Title can be obtained by all members of a family together on the same title deed and also unmarried couples who have lived together for over 5 years and have evidence of a joint bank account and/or a child together are looked on favourably by the Council of Ministers.

Once you own property in Cyprus, your Advocate can arrange an appointment with the immigration authority and on provision of sound financial standing, pension forecast, bank details and a sales agreement of the property purchased, you can obtain a temporary residence permit. Temporary residence status can be from one to four years.  For a permanent permit, in addition to the above requirements, the applicant must establish evidence of a secured annual income of not less than CYP£5300 for a couple.  UK nationals are allowed to work in the country if they have a work permit.

It is wise for a property purchaser to arrange for his Advocate to draw up a will for him.  Inheritance tax is not imposed on property paid for by foreign funds, however if one dies without a Cypriot will in place, a will completed abroad would not legally cover property in Cyprus.  Therefore it would be difficult for the purchasers Advocate to carry out any wishes as to who should inherit, or indeed find the legal heirs.  Once the property registered in the name of the purchaser, there is no restriction on them selling the property or disposing of it by will.  Furthermore, no permission will be required for the legal heir to have the property transferred into his name.

Personal effects, household goods and furniture can be imported duty free by property owners provided they are over a year old and are for personal use.

Retired couples are allowed the concession of two duty free cars.  Purchasers who will not be retiring to live in Cyprus, are also eligible to purchase a duty free car, however in their absence it must be placed in a bonded Warehouse (which costs no more than £9 per month).

The transfer of ownership takes place by a simple process of registration at the Land Registry Office and the issuing of a title deed after completion and delivery.  This can be done either by the purchaser or by a Power of Attorney to the purchaser’s lawyer.

Before the registration of the completed property and the transfer of freehold ownership the purchaser must pay the transfer fees to the Land Registry Office.  Transfer fees are based on the market value of the purchased property which is calculated at the rate of 3% for the first £50,000, 8% from £50,000 - £100,000, and 8% for amounts over the first 100,000.  The Advocate can then affect registration into the purchaser’s name.