The location of Cyprus in the eastern Mediterranean at the crossroads of Europe, Asia, the Middle East and Africa, in combination with its EU membership, the excellent infrastructure coupled with reliable communication with all parts of the world, the relatively low cost of living, its excellent climate and the friendliness and hospitality of its people, are just some of the reasons which have made Cyprus attractive to foreign investors.
In order to reduce the potential risk, investors are advised to obtain professional advice. We are able to provide advice and assistance in all areas and matters relating to property transactions. In particular:
- Legal advice and guidance throughout the purchase and sale process.
- Conducting due diligence on property. It is imperative that such a search is carried out. For example, for new built properties, this is required to ensure that the land on which the property is being built or will be built is owned by the seller and that any registered encumbrances or charges (mortgages) registered against the land are brought to the attention of the purchaser.
- Negotiating the contract of sale on behalf of clients and where required amending or drafting a new agreement.
- Providing advice on payment of stamp duty on the contact of sale.
- Depositing the contract of sale at District Land Registry. If the transfer will not take place simultaneously with the payment of the purchase price, the contract of sale should be deposited at District Land Registry within a strict time limit so as to safeguard the purchaser’s priority rights to the property.
- Providing advice on the acquisition and the leasing of property in Cyprus by foreigners and non residents.
- Advice, drafting and negotiating leases.
We are also able to provide advice and assistance when property law disputes arise, such as:
- Landlord and tenant
- Neighbour disputes such as boundary, rights to access, rights to light, nuisance
- Professional negligence cases
If you have purchased a property in Cyprus and are encountering difficulties, we will be happy to provide advice and guidance on your legal rights and methods of redress.