If you want to buy real estate in Larnaca, there are plenty of properties to choose from. You can rely on our real estate lawyers in Larnaca, Cyprus, for support in all the stages of the acquisition, as presented below.
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Can I buy a property in Cyprus if I am a foreigner?
Yes, you can. If you are a non-EU citizen, however, you must first obtain permission from the District Administration in Larnaca, for example, if you want to acquire the property there.
How do I obtain the real estate purchase permission in Larnaca?
You need to submit the application form COMM 145 along with the following documents:
- a survey of the land;
- a copy of the title deed;
- a copy of the planning or partitioning permit, depending on the development stage of the property;
- the floor plan, in the case of houses or apartments;
- a copy of the contract;
- proof of the applicant’s financial self-sufficiency;
- passport copy of the buyer;
- copy of the residence and work permit of the applicant (if applicable).
IMPORTANT! In the case of foreign married citizens, the passports of both spouses and the marriage certificate must be submitted. Also, foreign documents must be translated into Greek or English.
We invite you to watch our video below:
How long does it take to obtain the purchase permission from the Larnaca District Administration?
It takes 2 to 3 weeks for the permission to be issued.
What are the services you provide?
Here are the main solutions our dedicated lawyers can provide you:
- we can complete various checks;
- we will also handle the real estate due diligence process;
- we can draft the sale-purchase agreement and its registration with the Larnaca Land Office;
- we can also handle the property delivery process.
In addition to these standard services, our lawyers in Cyprus can also help you find tenants and draft the rental agreement if that is why you intend to buy the property.
What are the types of properties I can buy in Larnaca, Cyprus?
You can acquire both land plots and apartments or houses, provided you meet the following criteria:
- in the case of land: you can buy plots of up to 4,000 sqm on which you can build a house;
- in the case of apartments/houses: you can buy one or two units in the stage of development of up to 100 square metres, or 250 square metres, if you the destination of one unit is that of an office.
What are the steps to buy a property in Larnaca, Cyprus?
Buying a property in Larnaca implies completing several steps:
- sign a pre-sale agreement with the seller;
- make an advance payment to retain the property;
- make a notary appointment where the sale-purchase document will be signed and the transfer of the property will be completed.
Our Cypriot lawyers can help you skip one or more of these steps through a power of attorney, which grants them the right to represent you. This will prove quite useful if you are a foreign citizen or even if you live in another city than Larnaca and want to save time.
Do I need to make an advance payment on the chosen property?
Yes, it is necessary to make an advance payment. Usually, the amount ranges from 5,000 euros to 10,000 euros, depending on the value of the property.
Can I buy a property in Cyprus through a mortgage if I am a foreign national?
Only if you are a permanent resident of Cyprus.
Can I obtain residency in Cyprus if I buy a property?
Yes, you can. As a matter of fact, Cyprus has a special program for foreign citizens, which requires the acquisition of a property with a minimum value of 300,000 euros (VAT excluded) and a minimum annual income from abroad of at least 50,000 euros.
How long does it take to complete the real estate purchase procedure in Cyprus?
Between 2 and 3 months.
Our lawyers are at the service of clients with assistance in other matters as well, including marriage registration in Cyprus.
Feel free to contact our real estate lawyers in Larnaca and discover how we can help you.