Property Ownership
 
The process of purchasing property in Cyprus by foreigners is very easy.  Now with Cyprus being part of the EU, Non-Cypriot buyers can purchase more than one FREEHOLD property compared with before when there was a limit of only one.
 
NON EU BUYER BENEFITS 

For every €171,000 cash invested in property we can obtain for two persons a 12 month residency and work permit. This is renewable each year until five years at which time we can apply for permanent residency. 

Mortgage Finance
 
All commercial banks in Cyprus are authorised by the Central Bank of Cyprus to offer mortgage facilities to assist in the purchase of property. The amount ranges from 60% - 80% of the value of the property with a repayment period ranging up to 20 years .
 
The Title Deed
 
The Cyprus Land Registry is responsible for the transfer of ownership from Vendor to Purchaser. This can be done either by the buyer in person or by appointing a third party with Power of Attorney.
 
Tax Advantages
 
Retirees drawing a pension are exempt from all withholding taxes at source, and may be taxed at the nominal rate of about 4% or less depending on income. Additionally, Cyprus has Double Taxation treaties with many European and other countries, safeguarding its residents from paying tax in both countries. Cyprus is unique when it comes to the taxation aspects of living on the island. This gives the option to the citizens of those countries to take advantage of the very low rate in Cyprus.
 
Double Taxation Agreements
 
Cyprus has double-taxation agreements with Austria, Bulgaria, Canada the People\'s Republic of China, the Czech Republic, Denmark, Egypt, France, Germany, Greece, Hungary, India, Ireland, Italy, Kuwait, Malta, Norway, Poland, Romania, Russia, (Armenia, Belarus, Kurdistan, Moldova, Tajikistan, Turkmenistan and Ukraine) Slovakia, South Africa, Sweden, Syria, the United Kingdom, the United States, Yugoslavia (Serbia and Montenegro).
 
A credit is usually allowed against the tax levied by the country of the taxpayer\'s residence for taxes levied in the other country.