Council of Ministers application and guidelines, regarding purchasing property
Citizens of EU member states who are residents of the Republic are permitted to purchase any amount of real estate without any permit and without submitting form (COMM.145), as they are not aliens in terms of the law. All that is required is for a Certificate of Permanent Residence. This can be done by applying to the Migration Office of the Republic of Cyprus.
Citizens of EU members states who are NOT permanent residents of the Republic can acquire any amount of land, however they do need to obtain a permit for the acquisition of a secondary residence.
Citizens of Non-EU member states who are resident of the Republic are allowed to acquire only one property in Cyprus and have to apply for permission via the District Office in which the property is located and must submit form (COMM.145). In exceptional circumstances they may be permitted to acquire a second property.
Citizens of Non-EU member states who are NOT residents of the Republic of Cyprus, the above applies with the exception that they are not allowed to acquire a second property.
The following advice, documents and information may assist you.
Do the following when applying for Council of Ministers Approval:.
1. Obtain written confirmation from your bank or accountant stating that your financial status is sound; showing your annual income and capital.
2. Bank account statement.
3. Written confirmation from your employer stating your position in the company and your salary.
4. Documentation of your profession, i.e. copy of relevant certificates.
5. Proof of immovable property, shares, or bonds you own in another country