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Property Ownership / Transfer

There is no restriction for property ownership to EU citizens and permanent residents of the Republic.

There is a restriction however to overseas investors and non-EU citizens (individual or corporate) of one freehold ownership property of flat or house or building plot or and land up to 4.000 sq.m. This restriction will cease during 2009. The permission for purchase of property by non-Cypriots is granted by the District Officer of the Town where the property is located.

The Land Registry System of Cyprus maintains an accurate and effective registry of all immovable property/ land as well as a record of all transactions including the acceptance of submission of Property Purchase Agreements (see C4).

Cyprus International companies (IBCs) may acquire premises for their activities or for residence for their employees.