• IS NOW THE TIME TO BUY A Cyprus HOUSE?

    Assistance

    Cyprus: buying property

    Information on laws and taxes for British nationals who wish to buy property in Cyprus.

    Introduction

    Getting property in Cyprus has a number of prospective risks. The British High Commission recommends possible buyers to work out extreme care when buying a property if the title deeds are not readily available, as it indicates your property could be at risk.

    Mortgage liability

    It is common practice for developers to secure mortgages on land or property. If you sign a contract with a developer and there is currently a home loan, loan or claim on the property, then you are most likely to become responsible for that home loan needs to the contractor, designer or landowner state personal bankruptcy.

    You must ask your legal representative to check for home loans placed on the land through a Land Search Certificate which is obtained from the Land Computer registry. It needs to be noted that in order to obtain a Land Browse Certificate one requires a relevant authorisation from the Property’s owner. , if you are made mindful of a mortgage prior to signing a contract it is not likely that you will get the deeds in your name until the home loan is paid off.

    .

    Attorneys are not required to check for mortgages immediately, although good lawyers must do this as a matter of course. In 2011 the Republic of Cyprus Federal government presented a Particular Efficiency Law to provide an agreement of sale precedence over any pre-existing mortgage however we still highly advise that you check no home loans have been put on the land prior to purchase to ensure you do not face possible troubles at a later date.

    See Property For Sale in Cyprus Now

    Other problems most regularly raised by British nationals consist of:

    • attorneys acting for both vendors or contractors therefore not independent
    • constructing works happening without the appropriate preparation authorization or building authorization (eg electrical power or water).
    • fluctuations in currency and interest rates impacting mortgages.
    • payment plans or charges not being consisted of in the initial agreement.
    • trouble in obtaining certificates of last completion (deeds can not be provided without this).
    • problem in acquiring title deeds.
    • problem in getting redress after problems are recognized.
      With all property purchases, we strongly suggest that you seek your own independent legal advice.

    You ought to seek certified independent legal guidance on your rights and techniques of redress if you have actually acquired a property or land and are experiencing problems.

    The Foreign, Commonwealth & Advancement Workplace (FCDO) and the British High Commission are unable to offer legal recommendations or end up being involved with conflicts in between personal celebrations. We direct British nationals to organisations who may be able to help and we can raise systemic problems, problems which affect a number of clients, with regional authorities.

    You can check on the Association of International Property Professionals website to see if a business or legal consultant are members.

    Buying property in the north of Cyprus.

    The ownership of many residential or commercial properties is challenged in the north of Cyprus, with countless claims to ownership from individuals displaced in 1974. Purchase of these properties might have serious financial and legal implications. The European Court of Human Rights has actually ruled in a variety of cases that owners of property in northern Cyprus before 1974 continue to be considered the legal owners of that property.

    Purchasers could deal with legal proceedings in the courts of the Republic of Cyprus, in addition to attempts to implement judgments from these courts in other places in the EU, consisting of the UK. There has been at least one successful case to impose judgments in the UK, jeopardizing property owned in the UK.

    One key concern is property and the handling of pre-1974 Greek Cypriot title-owned property. Property owners and potential purchasers must likewise think about that a future settlement of the Cyprus issue could have severe effects for property they buy, consisting of the possible restitution of the property to its initial owner, in addition to settlement payments.

    • in the north of Cyprus that was owned by a Greek Cypriot nationwide prior to 1974 * ^ that was subsequently classified as exchange or ‘present’ land/property by the Turkish Cypriot “authorities”.

    Buyers need to guarantee they are totally aware of the rules in the north of Cyprus in respect of immigrants purchasing property, consisting of the requirement to acquire consent to the transfer of property. Even when purchasing pre-1974 Turkish title land, you might still be declined approval to buy the land/property and no factor for the rejection may be provided.

    On 20 October 2006, an amendment to the Republic of Cyprus criminal code associating with property entered impact. Under the change, buying, selling, leasing, promoting or mortgaging a property without the authorization of the owner (the person whose ownership is signed up with the Republic of Cyprus Land Computer registry, including Greek Cypriots displaced from northern Cyprus in 1974) is a criminal offence. The optimum prison sentence is 7 years.

    The amendment to the law likewise specifies that any attempt to undertake such a deal is a criminal offense and could result in a prison sentence of as much as 5 years. This law is not retrospective, so will not criminalise transactions that occurred before 20 October 2006.

    Documents relating to the purchase of property in the north of Cyprus will be presumed by the Cypriot authorities to relate to the unlawful transfer of Greek Cypriot property and may be subject to confiscation when crossing the Green Line. Anyone found in possession of these documents may be asked to make a declaration to the Cypriot authorities and could face criminal proceedings under the 20 October amendment.

    Any queries regarding the scope of this law must be made to the Republic of Cyprus High Commission in London or to the Ministry of Foreign affairs for the Republic of Cyprus:.

    RoC High Commission London.
    13, St James’s Square.
    London SW1Y 4LB.

    Telephone: +44 (0) 207 3214 100.

    Email: cyprusinuk@mfa.gov.uk.

    RoC Ministry of Foreign Affairs.
    Presidential Palace Avenue.
    1447 Nicosia.

    Telephone: +357 22651000.

    Fax: +357 22661881.

    Responsibility Officer: +357 99 660129 (for emergency assistance and strictly after office hours: 07:30– 16:00 (Monday – Friday).

    Email: info@mfa.gov.cy.

    Property owned before 1974.

    If you are a British national and owned a property in the north of Cyprus before 1974 (or the heir of someone meeting those requirements), please get in touch with the British High Commission by email, marking your message to the attention of the Property Officer. If you wish to attempt to recover your property, they will be able to check your file and advise on what steps to take.

    The British High Commission is not able to help dual nationals in the country of their other citizenship. If you are a double British/Cypriot nationwide you should approach your local authorities in regard of claims for pre-1974 title deeds.

    Buying property or land in the Sovereign Base Areas (SBAs).

    Individuals considering the purchase of stationary property (such as land) in the SBAs need to be aware that the permission of the Administrator of the Sovereign Base Locations is needed under area 3 of the Immovable Property Acquisition (Control) Regulation 1972 for a non-Cypriot or for a non-Cypriot corporation to acquire unmovable property in the SBAs.

    The requirement for permission exists whether property is currently owned by a Cypriot or a Cypriot corporation or by a non-Cypriot who has previously obtained authorization. Failure to get the authorization of the Administrator implies that the acquisition and registration of the immovable property in question is null and void. The Administrator will provide consent just in the most extraordinary scenarios.

    You must likewise know that it is an offence for individuals aside from “recognised residents” to reside in the SBAs for more than 28 days in any period of 12 months, other than in accordance with an authorization issued under that Regulation. Once again, you may make an application for a certificate of recognised house or a permit, but the Administration only rarely consents to giving these.

    More info.

    A few of the problems that property buyers experience are very similar throughout Cyprus. The British High Commission is unable to get involved in specific property problems or legal disputes, but supports community associations that are devoted to solving the issues of property purchasers.

    Associations.

    If the company, or legal advisor, you have worked with belongs to AIPP and you are dissatisfied with the services supplied, you can write to the AIPP who have a disciplinary procedure.

    Legal advice.

    British residents impacted by property issues need to take independent legal advice from regional lawyers.

    Regional cops.

    If you believe that you have gone through a property crime, you need to make a statement to the local police. Remember to get a copy of the statement and ask for the incident number. Please note, there may be a time limitation between the time of the supposed crime and the time within which you make your grievance.

    Cyprus Ombudsman (also known as Commissioner of Administration and Security of Human Rights).

    The Cyprus Ombudsman acts in the service of citizens, including foreign nationals, in order to defend their rights and flexibility versus actions from any Cypriot administration. The Ombudsman has the power to challenge all bodies (subject to some restrictions) and authorities of the central federal government and regional administrations in addition to anyone serving as representatives or collaborators of any of these administrations in the fulfilment or execution of public objectives or services. Contact details are on their website.

    It is very important to keep in mind that the Ombudsman might not step in under the following situations:.

    • whenever the public administration has actually not been included.
    • in the event of disputes or disagreements in between people.
    • after one year from the moment when the citizen had knowledge of the events of his problem.
    • in case of confidential problems, without specific claims presenting bad faith or any claims that might harm genuine rights of third parties.
    • in the event of non-conformity with the contents of the judicial judgment.
    • grievances versus attorneys.

    Problems against lawyers practicing in the Republic of Cyprus should be resolved to:.

    The Cyprus Bar Association.
    Florinis 11, off.101, 1st Flooring,.
    1065, Nicosia P.O.Box. 21446,.
    1508, Nicosia– Cyprus.

    Telephone: +357 22873300 Fax: +35722873013.

    Email: cybar3@cytanet.com.cy.

    Site: www.cyprusbarassociation.org.

    Grievances against legal representatives practising in the north of Cyprus may be made in writing to the pertinent local ‘Bar Association’. There is a separate ‘Bar Association’ for each district.

    Initial investigations into grievances take place within the appropriate district however they are then passed onto the overall organisation, the ‘Cyprus Turkish Bar Association’.

    Contact details of local ‘bar associations’:.

    • Nicosia: contact individual: Arzu İzveren, email: barolarbirligi@hotmail.com phone: 0090392227 73 39.
    • Kyrenia: contact individual: Gürcan Bayramoğlu, e-mail: gurcanbayramoglu@hotmail.com phone: 0090392816 06 22.
    • Famagusta: contact individual: Mine Vehit, e-mail: mine-vehit@hotmail.com phone: 0090392366 16 88.
    • Morphou: contact person: Mehtun Muslu, email: mmehtun@yahoo.com phone: 0090392714 69 93.

    Grievances against the legal system in the Republic of Cyprus

    Grievances versus the legal system should be made to the Attorney General’s Workplace:.

    Mr George L. Savvides.
    Attorney General.
    Law Office of the Republic of Cyprus.
    1403 Nicosia.
    Cyprus

    European Commissioner.

    There is a European Commissioner for Justice, Consumers and Gender Equality. Their address is:.

    Directorate-General for Justice and Consumers.
    European Commission.
    1049 Brussels.
    Belgium.

    You can find out more about EU consumer rights on their website.

    Assist in the UK.

    We have published suggestions(Link) on which UK authorities to get in touch with if you think you have actually been a victim of property fraud.

    When you made your purchase you might want to get in touch with the UK European Consumer Centre, if you were living in the UK. This is part of the European Customer Centres Network (ECC-Net) that has actually been established by the European Commission in co-operation with member states to assist consumers with cross-border disagreements. The UK European Consumer Centre gives info and guidance on issues with buying across borders and can arbitrate when issues occur if they think it may assist.

    Address:.

    UK European Consumer Centre.
    Chartered Trading Standards Institute.
    1 Sylvan Court.
    Sylvan Way.
    Southfields Business Park.
    Basildon.
    Essex SS15 6TH.

    Telephone: +44 (0) 1268 886 690.

    Fax: +44( 0 )1268 582 225.

    Email address: eccnet-uk@ec.europa.eu.

    Disclaimer.

    While we hope that this details works, please understand that it is not planned to be the only assistance for potential purchasers to follow when thinking about buying. In addition, we make no representation regarding the quality or precision of the information which is available at the web addresses listed in this guide, nor can we accept any duty for the material that is hosted on them. We highly suggest that potential buyers of property in Cyprus look for independent legal and financial advice at all stages of their purchase.

    The European Court of Person Rights has ruled in a number of cases that owners of property in northern Cyprus before 1974 continue to be related to as the legal owners of that property.

    One essential issue is property and the handling of pre-1974 Greek Cypriot title-owned property. Property owners and potential purchasers must likewise consider that a future settlement of the Cyprus issue might have major effects for property they acquire, including the possible restitution of the property to its original owner, in addition to payment payments. Under the modification, buying, selling, renting, mortgaging a property or promoting without the authorization of the owner (the person whose ownership is signed up with the Republic of Cyprus Land Registry, including Greek Cypriots displaced from northern Cyprus in 1974) is a criminal offence. We strongly recommend that prospective purchasers of property in Cyprus look for independent legal and financial guidance at all phases of their purchase.

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