After Brexit, the process for British citizens considering moving to Cyprus has become more arduous and complex. The process faced by British citizens and their family is currently the same as for other non-EU citizens.
Eventhough, the process is more complex, despite the Brexit impediment, there still remain viable for those who, still want to take the chance and start a new life in Cyprus.
Third-country nationals have the right to reside in the Republic if their spouse is a citizen of a Member State of the European Union. In the event of dissolution of the marriage, the spouse who is a third-country national loses their right of residence in the Republic.
Our office participated in the case D. Z. v. Blue Air C-584/18 of the Court of Justice of the European Union. Mr Constantinos Papantoniou who took over the case is analysing the main points of the decision.
The Land Registry in Cyprus is of great advantage since a buyer of immovable property can have his title as the unique owner of the land.
Foreigners are allowed to buy one real estate object for personal use (a flat or a plot of land for construction, or one house, and its entire area should not exceed 4012 square metres).
If a non-EU resident is about to buy a house needs to grand permission from the Council of Ministers.
Usually, the buyer agrees to make a pledge, pay an initial amount of money to the seller and the property is withdrawn from sale for up to 1 or 2 months.
The Council of Ministers grants permission to purchase this real estate object. After receiving confirmation of the Land Registry Office, you sign a contract. In order to make the contract, you may use legal services provided by our company. Legal services will constitute approximately 1% of the real estate price.
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The Private Company limited by shares is the most popular business form in Cyprus. Foreign investors majority choose to set up this business form and it can be established by EU or non-EU citizens/companies.
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