If you are thinking about an investment property in Cyprus, you should know that the two bedroom Cyprus apartments are the best for this purpose. You can rent them out and sell much easier than any other type of Cyprus villa or property. If you do have more money to invest, you can also look at t holiday villa with a private pool. It is great for renting and selling later, too.
If you find the right Cyprus property, you should normally make an offer. The deposits vary between 1 and 2 thousand Euros. If you are looking for finance on a Cyprus property investment, 20-30 percent is enough to put down at the completion, and the rest can be paid as a part of a finance agreement.
You should look at the requirements and regulations before you would proceed with purchasing Cyprus Villas. If you are from abroad, you will need to apply for a permit. This permit can be obtained from the Application to the Counsel of Minister, and submitted at the Land Registry at the district Officer. You can then proceed with preparing the documents, and you would need an experienced Cyprus lawyer to help you with everything. The payment and transfer of ownership can be done in a few hours, but you need to visit the office personally with the seller.
You also have to ask for a confirmation from the Central Bank before the sale could be completed. The proof of payment and agreement should be submitted to the Land Registry and that is when the sale is legally completed. If you used funds from outside Cyprus, you will need proof of the foreign exchange, too.
After the sale is done and the full price is paid up by you or the Bank, you should apply for a transfer for the registration of ownership, to get the Land Registry changed for your name.
When you apply for this document, you should have your ID and passport number with you and visit the District Lands office personally. The title deed will contain the approval of the Council Ministers, the confirmation of payment and foreign exchange from the Central Bank. Another important thing you have to check is the taxes. When you buy the Cyprus property, you should check that the taxes were paid up to date.
If you would like a professional Cyprus attorney to complete the purchase, you can give them a power of attorney, and they can deal with the seller on your behalf, as well as get some of the papers in place.
