Buying a holiday home or permanently living in Cyprus

Buying a holiday home or permanently living in Cyprus

Many people buy a holiday home in Cyprus with a view to living there permanently or semi-permanently when they retire. The island has always been a popular location with British buyers, especially retirees, and almost 30,000 of them own homes there, a further 10,000 choosing to rent properties. However, estate agents are now seeing an increased demand from younger people with ...
Essential checks before you buy a property in Cyprus

Essential checks before you buy a property in Cyprus

There are a number of essential checks to be made before you buy a home in Cyprus. These should all be made by your lawyer, but you should be aware of them so that you can ask your lawyer the right questions at the right time. Make sure that the vendor is the legal owner of the property and that there are no outstanding debts relating to it, such as a mortgage. This is done ...
Taxes are an important consideration when buying in Cyprus

Taxes are an important consideration when buying in Cyprus

An important consideration when buying a home in Cyprus, whether you’re a resident or non-resident, is taxation, which includes income tax, immovable property tax, capital gains tax, inheritance tax and value added tax. If you live permanently in Cyprus, you will have to pay Cypriot income tax on your worldwide earnings. However, the good news is that tax rates are some o...
Annual Immovable Property Taxes and Fees in Cyprus

Annual Immovable Property Taxes and Fees in Cyprus

Immovable Property Ownership Tax  Until the end of 2016, the registered owner of the property, was liable to an annual Immovable Property Ownership tax calculated on the market value of the property as at 1st of January 1980 (paid by the 30th of September in the year). Immovable Property Tax was payable to the Inland Revenue Department of the Republic of Cyprus. Rates ar...
An Expat Guide To Financing Property Purchases  In Cyprus

An Expat Guide To Financing Property Purchases In Cyprus

In spite of being a foreign citizen, you should not face any trouble if you decide to apply for a mortgage with a Cypriot bank or financial institution. The interest rate as well as the terms and conditions are quite competitive compared to other countries. In 2014, the Central Bank of Cyprus dropped the rates of interest on loans to stimulate lending, consequently increasing t...
Paphos is a popular expat property destination

Paphos is a popular expat property destination

Cyprus has several locations that may be of interest to property buyers from overseas. However, some of them tend to be a lot more expensive than others, because of the quality of housing as well as their high demand. Paphos is a popular expat property destination The Culture Capital of the island, Paphos boasts a rich cultural heritage and numerous attractions like the A...
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