Cyprus Property Law & Buying a Property in Cyprus

Whatever your reasons for buying a property, this is probably the first time that you have bought a property in Cyprus. We have put this guide together to help you understand a little more about the process of buying in Cyprus.

This guide is aimed at providing some basic information about buying in Cyprus and tries to answer the majority of the common questions that we are asked. Although we hope that you will find it useful it is important to remember that it doesn’t cover all legal issues involved and certainly isn’t a step by step DIY guide to buying Cypriot property.

We’ve also put together handy Buying Property in Cyprus Checklist. 

While we hope this guide helps to somewhat demystify the process of purchasing Cypriot property, it is still recommended that you seek advice from a professional before proceeding – after all we do this every day and have been doing so for many years and therefore know all the tricks and pitfalls that you may come across

We also know the practical solutions to the problems that exist and understand how Cypriot law interacts with UK law, so can help to ensure you meet all of the strict requirements of both countries’ laws.

For specific advice on buying Cypriot property tailored to your needs, please get in touch with our friendly, expert Cypriot property lawyers based in the UK.

Call: 01438 840 258                                    Email: admin@judicaregroup.com

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What is included in our services for buying property in Cyprus

We always work on a fixed fee basis so you are able to budget effectively for your purchase from the outset. If your purchase raises substantial or unexpected problems which need to be resolved and require additional work, there may be additional charges. We would inform you before incurring this cost. However, our experience of Cypriot property enables us to anticipate most issues so that we can deal with many unexpected problems without any additional charge.

Our services include:

  • Legal advice on the terms of your offer to purchase
  • Searches at the Land Registry
  • Obtaining certificate from the Community of Owners (if appropriate)
  • Checking the legal status of the property and the seller’s right to sell
  • If appropriate checking the guarantee provided by the vendor
  • Arranging application to the council of ministers
  • Arranging the signature of the title deed
  • Arranging payment of the relevant taxes
  • Arranging registration of the property at the Land Registry
  • General hand holding and advice throughout the transaction

Why use Judicare for buying property in Cyprus?

Decades of combined property law experience. Plain English advice.

We work hand in hand with our trusted lawyers in Cyprus, so clients get the very best legal advice. 

At the same time, as UK-based solicitors, we are here to answer your questions and keep you informed every step of the way in plain English.

UK-regulated solicitors. Real peace of mind.

As a UK law firm, we are regulated by the Solicitors Regulation Authority (SRA). This means you can be confident we will adhere to the strict standards expected of UK solicitors.

Complete understanding of how UK and Cypriot laws interact

Working with our trusted partners in Cyprus, we are perfectly placed to advise on what happens when laws interact in more than one jurisdiction at the same time.

AIPP membership

When dealing with Cypriot law, working with a law firm with strong international property expertise is a good idea. This is one area where we excel.

We are a member of the Association of International Property Professionals (AIPP), which was set up to improve standards of professionalism in a largely unregulated overseas property market. As AIPP members, we have signed up to a Code of Conduct that assures we adhere to the highest standards of honesty and professional integrity.

Decades of collective experience dealing with Cypriot Law.

We have forged a strong bond with our trusted Cyprus lawyers over the past decade. This experience and knowledge create an in depth understanding of the majority of issues clients may need to consider, allowing us to find solutions quickly to the common problems clients can run into (and the not so common ones).

Drawing on our collective experience, we can help clients to plan effectively and make sure every aspect of a case goes ahead as smoothly as possible.

Call: 01438 840 258                        Email: admin@judicaregroup.com

 

Buying a Property in Cyprus Questions

Is the Legal system in Cyprus the same as in the UK?

The Legal System in Cyprus is generally based on the common law and the legislation is largely based on the British equivalent. However, Cyprus Legislation differs from the UK in the area of Immovable Property. The ultimate law of Cyprus, which is its Constitution safeguards the protection of ownership. Subject to the Cyprus Law, Cypriots as well as foreigners have the right to enjoy all rights relating to ownership of their property without any interference either from the State or from individuals.

Do I need a lawyer to help me buy in Cyprus?

The conveyancing process in Cyprus is fairly complicated and we always recommend any client seeking to buy or sell a property in Cyprus take the appropriate legal advice from a lawyer in Cyprus. There are numerous pitfalls when purchasing an immovable property or a parcel of Land in Cyprus, so having expert advice from the outset is highly recommended. 

Are the overall costs of buying property more in Cyprus than in the UK?

Yes, the total costs in addition to the purchase price are higher than you will be used to in the UK. It is therefore important to factor these into your budget from the beginning. 
You will need to budget for the following; The Cost of Buying a Property in Cyprus - Judicare (judicaregroup.com)
 

What is the conveyance process for buying a property in Cyprus?

The conveyancing process in Cyprus as we have mentioned above is fairly complicated. The buyer and the seller both need to go through various checks to identify the background of the respective property to be bought or sold. The system however, is designed to enable a potential buyer to be notified of any restrictions prior to the purchase of the respective property or land.

The negotiation process starts with the buyer’s independent lawyer reviewing and possibly amending the contract of sale in order to safeguard the interests of the buyer. The buyer’s lawyer will also carry out a number of searches to ascertain the status of and the background of the chosen property.

Once the Contract of Sale is agreed between both the Seller and the Buyer, both parties will sign the contract and four copies are made and duly stamped at the Land Registry Office. One of these copies is the stamped ‘original’ and will usually be kept by the buyer’s lawyer. 

The buyer’s lawyer will then deposit one of the copies of the contract of sale with the Land Registry for reasons of ‘Specific Performance’. This is a vital stage for the purchaser’s protection.

‘Specific Performance’ is a simple and effective legal instrument provided by the Land Registry in Cyprus through which the purchaser’s ownership rights are protected until the Title Deeds are issued and transferred to their name. Through this simple procedure, the contract, which is in the hands of the Land Registry, cannot be withdrawn by anyone and therefore the respective property cannot be leased, sold, transferred, or mortgaged. Therefore, this status can then only be altered by the purchaser.

The process is now slightly different for post-Brexit buyers. When entering into a contract of sale, clients will now need to apply to the Council of Ministers for a specific permission to allow the purchase to proceed. This application procedure is generally a formality and whilst the chances of your application being rejected is low, it makes sense to have a clause in the contract of sale which legally sets out what will happen if the permission is not granted by the Council of Ministers. 
 

How do title deeds work in Cyprus?

The buyer of the property will obtain title deeds in accordance with the terms agreed under the contract of sale. Usually this happens when the buyer has paid the full purchase price.

The transfer of the title deeds from the seller to the buyer takes place once an application is made to the Land Registry and once all the prescribed transfer fees have been paid.

However, it is necessary to mention that:

  • Title deeds may take up to 5 years to be issued for a new property
  • Even if the property does not have title deeds, the owners are safeguarded by depositing the agreement at the Land Registry
  • Re-sale can still be achieved even in the absence of title deeds