Non- Cypriot Citizens Requires Permission From The Council Of Ministers To Purchase Property In Cyprus

Category: Finance.

Solar heating is an economic alternative and its adoption is relatively inexpensive, having a payback period of approximately 5 years. This will cost around C1, 200 for the borehole and the pump, although it will depend on the depth of the borehole.

If you will have a garden, it is advisable to drill a borehole for watering as the water charges rise more than proportionately with consumption. The drilling of a borehole requires a Government permit first. Before the" craze" of village cottages started, there were some real bargains for this nature of property. There is an increasing tendency by the local and the foreign market( in particular the British market) to acquire old village houses which are subsequently improved/ converted into modern residences. Nowadays cottages of character and colour are relatively expensive and they may amount, together with the repair improvement bills, in excess of what a new villa of the same size would cost. It is strongly suggested that before concluding a deal, you obtain a firm estimate of the repairs/ improvements required using the services of a qualified Q. Bargains can still be found at the remote villages of Paphos and those of Limassol.

S. or an architect, whereas what has been said previously about other property acquisitions holds good for this nature of property as well. Non- Cypriot citizens requires permission from the Council of Ministers to purchase property in Cyprus. In particular, you must check who your neighbours are, since in tightly knit communities, such as the local villages, they have their own way of living and attitudes towards life. If this has not been yet obtained then the purchaser should now apply to the council for the permission. The final contract is only entered into when the searches have proved satisfactory. This normally takes between 8 and 14 months to be granted, and without this the Title Deeds of the property cannot be made available to the purchaser. When the building permit is issued works may begin.

Upon completion of the work your architect must submit drawings( as built) to the Appropriate Authority, if changes have been introduced, for the issue of a covering building permit. Try to avoid variations/ changes as these will give rise to claims on the part of the contractor which will mean a financial loss to you.

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