Real Estate sector in Cyprus is booming due to the large interest from international buyers. Therefore, the professional advice and assistance to buyers and sellers is necessary.
Our team is ready to consult you on the following areas:
If you are a buyer:
- Legal advice in respect of any property transaction in Cyprus
- Drafting of Contract of Sale
- Negotiation of the terms and conditions of Contract of Sale
- Due diligence report on property
- Application to the District Office to obtain the necessary permit to acquire property
- Land registry services including Stamp Duty
- Tax advice on immovable property taxes
If you are a seller:
- Expert advice on Capital Gains Tax planning
- Drafting of Contract of Sale
- Capital Gains Tax declaration
- We will handle all your bills that will have to be paid in order to clear the property, (Municipality taxes, Sewerage, Property taxes etc)
- Land registry services
Frequently Asked Questions
What does immovable property law cover in Cyprus?
Immovable property law in Cyprus governs buying, selling, owning, and transferring real estate, including residential and commercial properties. Legal support is essential to ensure compliance with Cypriot law, proper registration, and protection of the parties’ interests.
Why is legal assistance important when buying property in Cyprus?
Legal assistance helps buyers navigate the transaction safely by conducting due diligence on the property, reviewing ownership status, drafting and negotiating the Contract of Sale, and ensuring that all legal and tax obligations are properly handled.
What legal services are provided to property buyers?
For buyers, legal services typically include legal advice on the transaction, drafting and negotiating the Contract of Sale, preparing a due diligence report, applying for the necessary permission to acquire property, handling stamp duty, land registry matters, and advising on applicable property taxes.
Do non-Cypriot buyers need special permission to acquire property?
Yes. In certain cases, non-Cypriot buyers are required to obtain a permit from the District Office to acquire immovable property in Cyprus. Legal advisors assist with preparing and submitting the relevant application.
What legal services are available for property sellers?
For sellers, legal services include drafting the Contract of Sale, advising on Capital Gains Tax planning, preparing and submitting the Capital Gains Tax declaration, and handling land registry procedures related to the transfer of ownership.
Can you assist with outstanding property-related charges before a sale?
Yes. Legal support may include coordinating the settlement of all outstanding charges related to the property, such as municipality taxes, sewerage fees, and other property-related bills, to ensure the property can be transferred without encumbrances.
Are land registry services part of immovable property law assistance?
Yes. Land registry services are a key part of immovable property transactions and include handling stamp duty, lodging contracts, and coordinating with the Land Registry for registration or transfer of title deeds.
Can you provide tax advice related to immovable property transactions?
Yes. Legal advice often includes guidance on immovable property taxes, such as transfer fees and Capital Gains Tax, helping both buyers and sellers understand and plan their tax obligations in Cyprus.
Disclaimer: Information provided on the website may change. Please contact our manager to get the latest updates, full support, and consultation.