STOP PRESS – As of May 2009 this is not required for EU Citizens
When Cyprus joined the EC there was an announcement that the requirement to obtain a Permission from the Cyprus Council of Ministers would be removed in 2009.
The idea was to protect the Cyprus Property Market and Cyprus Residents from non resident investors. How the Cyprus Government might now wish that with the falling demand and the credit crunch that this decision had not been taken and that Cyprus Property Inc., had sold all it had when it had the chance.
This is a preview of
Permission to own property from the Cyprus Council of Ministers
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Law Offices of Andreas Coucounis & Co have published an interesting article in the Cyprus Mail about obtaining title deeds by way of specific performance.
Click here to read the article
But what does it mean for cyprus property buyers?
1. Firstly your contract must include the registered land owner if the developer or vendor is not the registered owner of the land. This means that your contract will include the name of the registered land owner, the vendor or developer of the building and the name of the buyer or buyers.
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Cyprus Immigration and Residency Permits
On the face of things under EU Directive 2004/38/EC, Residence permits are abolished for European Union citizens. However, Member States may require them to register with the competent authorities within a period of not less than three months as from the date of arrival. Update 8 February 2008 EU Citizens need to continue to apply or re-apply for a “yellow slip”. These can now be issued on the “spot”. Brown ARC’s are not issued anymore but they used to be the “Proof of Registration” that was referred to in the previous incarnation of the procedures. But if the “yellow slip” is being issued on the spot now then that was why it became superfluous.Proof of registration will be issued immediately on presentation of:
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