Apartment for investment agency Limassol, Cyprus today: Mission of our projects is to meet the needs of our clients, offer a response to a wider set of goals and objectives of the clients, implement our own thoughts and ideas in architecture, conceptual content, create new products in the previously unrepresented segments of real estate in Cyprus. Since then, we under the brand of CDA Group have built and successfully implemented large residential and commercial projects in Limassol and Nicosia. Most of our projects were/are sold before construction works start. This indicates their high liquidity and demand. The Alliance is a club of selected developers, the most modern and advanced companies. Alliance members are united by an untainted business reputation and high European standards of construction and customer service. Find more info at https://cyprus-alliance.com/property-for-sale.
Execution of Property Sales Transaction – Property acquisition in Cyprus as well as in any other country is a certain legal procedure that shall be observed by all the parties concerned. You will be able to find detailed information on legal aspects of the transaction on the page Legal Issues. In case you wish to make use of a mortgage credit, a Cyprus bank becomes a participant of the process. You will have to prepare a set of documents and draft them appropriately. We will offer you assistance in this. Information on mortgage is available on the page Mortgage & Credit. Information on taxes and duties arising due to property acquisition in Cyprus is available оn pages VAT and Other taxes.
Once the Government issues a Title Deed for the purchased property and transfers it in your name you become a registered immovable property owner. Cyprus Title Deed ensures absolute right of ownership for immovable property. No one will ever be able to interfere with it under any circumstances. For example hypothetically assuming that you or your heirs will someday receive an official letter from the city hall or municipality notifying you that a road is intended to be constructed across your plot of land and you are offered to refuse the property and to obtain a compensation you will have an alternative: either to give your consent or to reject. In case you choose the latter there are no legal ways (and there happen to be no other in Cyprus!) to force you to give up the 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.
The immigration legislation is currently extremely liberal. Provided that you are purchasing property exceeding €300,000 you can obtain a permanent lifelong residence permit in the EU. Term of obtaining residence permit – 2 months maximum. Significant reserves of natural gas have been found and confirmed in the Mediterranean offshore in economic area of the Republic of Cyprus. Its production on an industrial scale is planned for 2022-2023. The revenue of the production considering the small size of Cyprus will make it a truly prosperous country and will lead to an increase in property prices. Read additional information on cyprus-alliance.com.