Real estate investment solutions Cyprus in 2024: You have contacted Cyprus Developers Alliance – an official provider of the Cyprus Investment Programme accredited with the Government of the Republic of Cyprus. The Alliance is primarily one of the most distinguished licensed operators of the Cyprus property market. The Alliance is a member of the Cyprus Chamber of Commerce, FIABCI and SKEK. If you have purchased a property in Cyprus for the purpose of holiday making there is no need to apply for a residence permit. The visa granted on the grounds of property ownership will allow you to stay in the Republic of Cyprus altogether 180 days a year, 90 days every six months. In case you plan to live in Cyprus on more or less permanent basis you should apply for a residence permit. Cyprus offers probably the best conditions in the European Union for this. Discover extra info at apartments for sale in Cyprus.
There is a search system available on every page of the web site. You can select the options that interest you (accommodation type, region, number of bedrooms, price range) and click on the option “Find”. You will be transferred to the general list of properties with brief descriptions of projects. Further, by clicking on the project number, you can see full information about it on a separate page. We will guide you through the purchase process if you answer a number of questions: What is the purpose of purchasing a property – permanent residence in Cyprus, holidaymaking or investment? What is the approximate budget allocated for your purchase?
The essence of contract deposition is that the public register processes and secures the status of your ownership. From now on only you can, in particular, mortgage yourproperty while the vendor will be unable to do it any longer as henceforth you hold the first right of claim. Simultaneously with deposition, a payment of a small Stamp Duty is made, that is described in Section “Taxes” in detail. Upon full payment of the property and on signing of a Delivery note, you will receive keys for your property and will become a beneficial owner possessing this property.
Here is an example. Suppose a developer has built an apartment house having obtained a credit from a bank to the amount of euro 500 thousand. A customer purchases one of the apartments amounting to euro 200 thousand from the developer. The bank calculates whatever share of the developer’s debt falls on this apartment as per the approved formula. Suppose this value comprises euro 40 thousand. The customer pays the apartment value in the following way – he/she transfers 160 thousand to the developer and 40 thousand to the bank. In response the bank prepares a document (that is called a waiver – assignment of claim) that implies that the bank does not have any claims related to this apartment. This document shall be issued prior or simultaneously with contract depositing.
In case you have purchased an apartment or a townhouse you will most likely not have to monitor the condition of your property when you are away from Cyprus. In the event that you have purchased a house and do not live in it on a permanent basis you will have to see to keeping your garden and probably fruit trees as well as swimming pool in an appropriate order. The Managing company of the Alliance at your request is ready to provide experienced and professional experts to you who will take care of your garden and swimming pool. We are also willing to provide you all the necessary assistance in case you wish afterwards to rent out or sell the property you have purchased.
What is Cyprus phenomenon? Why has this relatively small island become a favourite holiday and permanent residence place for a great number of foreigners from all over the world? Let us make a short list of Cyprus advantages. Wonderful climate and a healthy environment – We have lately asked one of our clients why he chose Cyprus in particular? His answer was brief – “because Cyprus is the only European country where one can bathe in the sea in November”. There are moreover 320 sunny days a year in Cyprus. At the same time there are mountains in Cyprus with snow cover in winter and with 4 ski lifts installed for skiers. Find extra details on cyprus-alliance.com.
