Freehold

Compared to many other countries purchasing property in Cyprus by foreigners is relatively simple.

Non Cypriots are permitted to purchase (for their personal use) either:

* an apartment
* a house or a villa on a plot
* a plot of land

The maximum allowed area is 4,013 square meters (an equivalent of 43,195 square feet)

Offshore entities may also acquire property in Cyprus (for their business purposes and/or for their employees' residential needs. In certain circumstances a non-Cypriot may be given permission to own a property that exceeds these dimensions.

Permission to transfer the property bought to the non-Cypriot's name must be sought from the Cyprus Council of Ministers. However this is granted more or less as a matter of course to all bona fide purchasers.

In the meantime, purchasers may take possession of the property without restriction. The application to the Council of Ministers to acquire immovable property in Cyprus can be made within a reasonable time after signing the contract of sale.