Real Estate Law
Our lawyers have extensive experience in real estate transactions and deal with all matters relating to real estate. Our law firm acts for both sellers and buyers of immovable property. Further, we provide advice on all areas of renting and developing property in Cyprus. Our law firm provides all services relating to reviewing, drafting, amending and negotiating sale agreements, reservation agreements or tenancy agreements. Our clients include local and foreign individuals and companies and developers.
Our lawyers can manage the process of sale of immovable property from beginning until completion. The process usually starts with a lawyer conducting any necessary due diligence to establish whether there are any encumbrances over the property and whether required permits are in place. Once all required due diligence has been completed, our lawyers can draft or review the reservation agreement and/or the contract of sale. Through the use of a Power of Attorney, our lawyers can attend the Land Registry on behalf of the purchaser or seller and sign any relevant paperwork such as the contract of sale.
Our law firm can also manage the process of tax clearance for sellers who live abroad and are unable to manage the process themselves. Further, we handle any relevant procedures relating to local authorities, the Land Registry and tax authorities.
Investing in Cyprus
Cyprus is a very attractive destination for foreign investors for a number of reasons. The warm weather, the island’s strategic location between 3 continents, a stable economy and the recent discovery of natural gas are just a few of the reasons which render the island an excellent location for investment. Cyprus has been a member of the European Union since 2004 and a growing economy creates an ideal climate for investments.
Moreover, the government has implemented legislation which allows non EU citizens to obtain permanent residence in Cyprus under certain conditions, when buying a property here worth a minimum of €300.000. Our lawyers can advise in regards to the law relating to the permanent residency program, manage the due diligence process for the purchase of the immovable property and manage the application process to obtain the permanent residency.
Areas of work include:
- Drafting and/or reviewing sale agreements
- Drafting and/or reviewing reservation agreements
- Drafting and/or reviewing tenancy agreements
- Conducting all relevant due diligence before a purchase of property
- Managing the process of obtaining discharge from the tax authorities for properties in Cyprus
- Conducting searches with the Land Registry
- Acquisition of Property by foreign nationals
- Estate Planning and Administration
- Wills, Probate and Estate Administration