Buying a property in Cyprus from UK
Buying a property in Cyprus from UK
• Are UK Nationals entitled to purchase property in Cyprus post-Brexit?
Just as prior to Brexit, UK Nationals are able to purchase property in Cyprus whether for relocation, investment or as a holiday home.
• Is there any difference in the purchase process post-Brexit?
The only difference is that now UK Nationals are required to apply for and obtain the Council of Ministers’ approval to purchase Property in Cyprus. It is a straightforward process handled by the Purchaser’s legal representative.
• How many properties can they purchase?
UK Nationals, just as any other Non-EU Nationals, are now entitled to purchase up to two Properties in Cyprus per family.
However, if they wish to purchase more than two Properties, they can always set up a Cypriot Company and purchase these Properties through a Cypriot Company.
• Are there any restrictions on the Property they can purchase?
Non-EU nationals are granted the Council of Ministers’ Permit to acquire an apartment, house or a plot of land not exceeding three donums (approximately 4,014 square meters) for the erection of only one house. As of May 2013, the Ministry of Interior allows ownership of up to two Properties which can be two residences or one residence and one commercial premises with a floor area of up to 100 sq. metres.
• If UK Nationals wish to come to Cyprus to view properties, would they need a visa to come to Cyprus?
UK Nationals are still able to visit Cyprus post-Brexit but their passports will be stamped at entry/exit border checks with a 90-day limitation period, which is the period of time that they can legally remain in Cyprus. This means that UK Nationals can legally enter and stay in Cyprus with a 90 days’ maximum limit in any 180-day period.
• Is it possible for UK Nationals to stay in Cyprus for more than 90 days? What Residency options are available for UK nationals wishing to stay in Cyprus for more than 90 days? In the event that UK Nationals wish to extend their stay in Cyprus for more than 90 days, they can apply for a Temporary residence Permit - the so called "pink slip” - which allows non-EU passport holders to extend their stay in Cyprus for more than 90 days. It will also enable tourists and visitors to extend their stay. Applicants need to apply before their visas expire.
Under this Permit a person is allowed to live in Cyprus for one year as a visitor, without the right to work. Spouses and children below the age of 18 can also get a Temporary residence Permit as dependents.
