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Cyprus Property Commercial Secrets

Jan 24, 2008
Going through a company like Headlands has several advantages: you will get to see a wide range of properties in Cyprus that suit your requirements;you have the benefit of our many years experience, as well as a fully staffed office to support you in the UK; it will eliminate any possible misunderstandings ;it helps takes away the stress and strain associated with house purchasing in Cyprus.

By law, a non-Cypriot in Cyprus is entitled to a residence permit but is not required to hold a permanent residence permit the latter being easy to obtain once certain requirements are fulfilled. You need to submit an application and provide proof that you and your family are self supporting. The following documents must accompany your application: A copy of the sale/rental agreement Copies of pension/retirement income Any other document(s) relevant to income Three photos and passport(s) The application for permanent residence may be submitted to the local immigration office in the area of residence.

The relatively low cost of living in Cyprus has an added appeal for the potential buyer, offering a full and inexpensive lifestyle. Recent statistics pointed to Cyprus as one of the most inexpensive countries in Europe. The local markets flaunt a wealth of colourful fresh fruit and vegetables, meat and fish, and Cyprus' modern supermarkets are fully stocked with a large range of local and imported goods. The local population is Greek speaking. Cyprus was once a British colony resulting in over 80% of the population speaking English. Street signs, direction signs, and shop signs are written in English. Knowledge of German, French, Russian is increasing with the Island tourist trade.

With the increasing complexity of the property market and the constant introduction of new concepts and measures new for the island (although not so in the European countries) it is advisable that the potential purchaser seeks professional advice prior to concluding a deal in order for hardships and disappointments to be avoided. This advice is specially useful to the foreign purchaser who has to encounter the problem of different laws and local attitudes. For this reason this firm has prepared the following tips which may be useful to the local property purchaser.

In case you require air condition ing/central heating, we suggest that the advice of a qualified electrical and mechanical engineer be sought. Fees for this consultant are around 4% for the design and 2% for supervision (on the cost of the works).Insist on all drawings being ready before inviting tenders.It is recommended that a building permit be secured first before works commence, although works such as excavations etc may begin prior to the issue of the building permit. In this case, your architect must consult with the Appropriate Authority to see whether there are any major objections to the drawings.
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