Cyprus offers over 300 days of sunshine a year, stunning beaches, low crime rates, and an attractive lifestyle. It also has favorable tax benefits for residents and investors, making it an ideal location for both living and investment.

Yes. Both EU and non-EU citizens are allowed to purchase property in Cyprus. EU citizens have no restrictions, while non-EU buyers can typically purchase one property per person (apartment, house, or plot of land). Additional approvals may be required for non-EU citizens, but the process is straightforward and commonly granted.

No. As of 2017, the government abolished annual immovable property tax. However, you may still need to pay minimal annual fees to the local municipality for services such as garbage collection and sewage — these are usually between €85 and €300 per year depending on the size and location of the property.

Property transfer fees are paid to the Land Registry when the title deed is transferred to your name — only if the property was purchased without VAT. The fee ranges from 3% to 8%, depending on the value of the property. Discounts are available for joint ownership and certain conditions. If you purchase a new property with VAT, no transfer fees apply.

Yes. The standard VAT rate in Cyprus is 19% for new properties. However, if you’re buying a home as your primary residence and meet certain criteria (such as living in it for at least 10 years), you may be eligible for a reduced VAT rate of 5%. This is subject to government approval and application.

It’s not mandatory, but it’s strongly recommended. A qualified real estate lawyer will carry out due diligence, verify the title deed, prepare contracts, handle communication with developers or sellers, and ensure all legal documents are in place. This helps protect your interests and makes the process smoother and safer.