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Follow Your Dream to Cyprus

M.P. HOMES REALTY – Follow Your Dream to Cyprus

At M.P. HOMES REALTY, we believe that a home is not just a place to live, but a canvas where dreams take shape and memories unfold.

Cyprus, with its timeless beauty and captivating landscapes, offers the perfect setting to find your ideal property — whether it’s a serene seaside villa, a contemporary city apartment, or a tranquil countryside retreat.

With professionalism, integrity, and deep local expertise, we are dedicated to guiding you through every step of this important journey, ensuring that your dream home becomes a reality.

Purchasing property in Cyprus offers numerous benefits, including a Mediterranean lifestyle, favorable tax conditions, and potential residency options. However, it’s essential to understand the legal framework governing such investments to ensure a smooth transaction.

Benefits of Buying Property in Cyprus

1. Permanent Residency: Non-EU citizens can obtain permanent residency by investing at least €300,000 in new residential property. This status permits indefinite stay in Cyprus and facilitates travel within the European Union.

   Cyprus Citizenship by Investment

2. Favorable Tax Environment: Cyprus offers attractive tax incentives, such as no inheritance tax and competitive property tax rates, making it appealing for property investors.

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3. High Rental Yields: The thriving tourism industry in Cyprus leads to strong demand for rental properties, providing investors with lucrative rental income opportunities.

   Cyprus Dream Homes

Legal Considerations

1. Eligibility:

   • EU Citizens: Can purchase property without restrictions.
     Lawyer
   • Non-EU Citizens: Must obtain permission from the Council of Ministers to acquire property. This process is generally straightforward but requires formal approval.
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2. Due Diligence: Engage a local lawyer to conduct thorough checks, including:

   • Title Deed Verification: Ensuring the property has a clear title without encumbrances.
     Estate of Cyprus
   • Property Inspection: Assessing the property’s condition to identify potential issues.
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3. Financial Obligations:

   • Stamp Duty: A tax on the purchase agreement, typically ranging from 0.15% to 0.20% of the property’s value.
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   • Transfer Fees: Payable to the Department of Lands and Surveys upon property transfer, calculated on a sliding scale based on the property’s value.
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4. New Regulations: As of late 2023, sellers are required to provide a Land Department certificate detailing any encumbrances on the property, issued within five days before contract signing. This measure enhances transparency and protects buyers.

   Estate of Cyprus

By comprehensively understanding these benefits and legal requirements, you can make informed decisions when investing in Cypriot real estate. It’s advisable to consult with legal and real estate professionals to navigate the process effectively.

Let Cyprus welcome you home — with M.P. HOMES REALTY by your side.
Follow Your Dream, together with Marios Paschali + 357 99 43 95 32