Purchasing property in Cyprus – An overview

Considering the fact that the once solid real estate market in America is in serious decline, individuals are looking for other markets to invest in. The amazing island of Cyprus is famous for its natural aura, delicious local dishes, and hospitality. At times just coming to Cyprus for a couple of days of the year is not sufficient and there are several individuals who would dream of buying a home in Cyprus. The lone factor that stopping them is that they are under the wrong conception that unless they’re the citizens of Cyprus they cannot buy a property there. For people who are not residents or citizens of Cyprus, but are keen on making property investments in Paphos, Nicosia, Larnaka, Protaras, Ayia Napa, Limassol, and any other place of Cyprus like Cyprus Villages, need to fulfill certain requirements. EU residents normally belong to two classes: those who reside in EU but do not hold a permanent citizenship of Cyprus and those who are citizens of EU and hold a permanent citizenship of Cyprus.

People who want to purchase property in Cyprus or who want to trade their Cyprus property can feel comfortable in investing cash since it’s not a very hard nut to crack. While in other nations you would have to go through a lot of troubles and intricacies for either purchasing or trading property, the process is relatively simpler in Cyprus. The property you purchase in Cyprus is based upon your situation and corresponding to its EU agreement. Recently, Cyprus has lifted a couple of the earlier restrictions on EU residents.

EU member state residents can buy any amount of property and land in Cyprus.

People who are not citizens of EU can buy a house, villa, or an apartment which is erected on a locale not more than 4.014 square meters.
An organization with a majority of shareholders and directors who are Cypriots or Europeans can purchase any amount of property in Cyprus.
Property in Cyprus is also obtainable for individuals living in foreign nations and who wish to take on land for their employees.

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