Cyprus Mortgage
A mortgage in Cyprus is a popular option for those who buy in Cyprus and the Cyprus mortgage market currently offers non-residents a variety of options from Cyprus banks or foreign banks. When financing your buy in Cyprus, obtain up-to-date Cyprus mortgage information from your legal advisor. If you buy in Northern Cyprus, mortgages are less common.
A mortgage in Cyprus is generally readily available and is linked to the Euribor interest rate. Cyprus mortgages are usually for up to 70% of the property's value and for a maximum of 30 years or up to the age of 65 (whichever comes earlier). It is important to consult your solicitor for the very latest information on Cyprus mortgages as well as up-to-date advice on current financing options available when you buy in Cyprus.
Cyprus Tax
Property investment in Cyprus involves a straightforward purchase process, although you should employ the services of an independent Cyprus lawyer. Expert legal advice will ensure you understand the law in Cyprus for property investment and provide up-to-date Cyprus tax information. The law in Cyprus requires the payment of several taxes when you invest in Cyprus, including transfer tax and stamp duty.
You will find no restrictions on ownership when you buy in Cyprus, although investors in Cyprus real estate must pay annual property taxes. Again, it's important to take expert advice on this aspect of law in Cyprus.
