Legal Issues

Acquiring the Title Deeds

Acquiring the Title Deeds - Transfer of ownership from vendor to purchaser is accomplished by a simple procedure through the Cyprus Land Registry Office, either by the buyer in person or by appointed third party with a Power of Attorney.

In the case of a non-Cypriot, evidence of payment for the property with foreign exchange must be provided as a prerequisite for registration.

The contract of sale must be in writing, and it is advisable that such contracts be registered at the District Land Registry Office within sixty days from the contract date. This protects the buyer's rights to the property and provides additional safeguards. When issued, the title deed will be registered in the name of the buyer, and will be recorded in the Government archives. The Government archives are confidential and will not be published or made accessible under any circumstances.

At any time after the purchase, the buyer may sell or dispose of the property at will, provided that he/she has a valid contract. (Please see ‘Capital Gains Tax’ under ‘Taxes and Fees’ section)

Television and Broadcasting Stations - Currently, 6 TV stations occupy the Cyprus Broadcasting facilities which are free of charge. A TV license is not required in Cyprus. In addition, multiple radio stations are available both in Greek and English. Two independent English papers (Cyprus Weekly and Cyprus Lion) are available on the market. English newspapers are also obtainable with one day delay from the date of publication.

Telecommunication system - The telecommunication systems in Cyprus is one of the most advanced world wide as well as most competitive. ADSL and standard Internet connections are widely available throughout Cyprus.

Governmental Configuration - Cyprus is an independent sovereign Republic with a presidential system of government. The President exercises executive power through a Council of Ministers appointed by him. Ministers may be chosen from outside the House of Representatives. Cyprus is a member of the E.U, United Nations and U.N. Agencies. It is also a member of the Council of Europe, the Commonwealth, the Organisation for Security and Cooperation in Europe and many other international Organisations.

NOTE: The above information should be only used as a guideline and is likely to differ for each individual case. For more in-depth information, or for specific questions, please contact us via email directors@africanosproperties.com, or Telephone (00357) 24828161, or Fax (00357) 24828110.