Buying property has always been fairly easy in Cyprus. But now that it is a member of the European Union, the few restrictions that existed have been swept away, particularly those that limited the amount of property owned and the ability to rent out for profit.



The following is a brief precis of the current law, as checked and confirmed by a local property solicitor. However, you should make a point of checking the details with your own solicitor before proceeding with a purchase.

• Citizens of the European Union can buy land freely without any restrictions.
• Citizens of the E.U. who reside in Cyprus permanently can buy any kind of real property in Cyprus (i.e land, houses, villas, flats etc) without restrictions.
• Citizens of the E.U. who have valid temporary residence permits and who declare that they have the intention to live in Cyprus are allowed to buy any kind of real property in Cyprus like the above described category (paragraph.
• Corporations established in any country of the European Union can buy any kind of property in Cyprus provided their main activity takes place in Cyprus or Cyprus is the base for the corporation's business.
• If a citizen of the European Union does not belong to one of the previous categories and he wishes to buy a house, villa, flat etc, which he will not use as his main residence but as a secondary residence, he needs a permit from the District Administration before he becomes the registered owner of the property. Usually that permit is granted easily with the same conditions as in the past.
• Central Bank's permit is not required any more.
• A house can be bought in joint ownership, not only in the names of a husband and wife.
• It is easy for a citizen of the European Union to obtain a residence permint with an application to the Immmigration Department.
• A work permit can be given easily to citizens of the E.U. without any particular difficulties. If somebody is self-employed he can establish a company and subsequently he can be employed by the company as the company's employee. He makes a declaration to that effect to the Immigration Department without the involvement of the Labour Office as in the past.
• A person who becomes the owner of a property can rent out the property to anybody.