Panaretos Contractors & Developers

Permanent Residence
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Buying Process

Whether you are deciding to purchase for investment, relocate to Cyprus or are looking to acquire Permanent Residency through the purchase of real estate, careful and considerate planning is essential to ensure that you choose the right property for the right reasons.

  • Property Reservation

    After selecting a property you should sign a reservation agreement. The final price will be agreed along with and other conditions of purchase. All agreements are included on the reservation agreement. A deposit will then be required to withdraw the property from the market.

  • Opening bank account

    The buyer is recommended to open an account in a Cyprus bank for making payments to the seller (Developer).

  • Preparation of the contract of sale

    The contract of sale will be prepared by a lawyer with experience in property matters. The lawyer will act on behalf of the buyer and will study the property from the legal point of view. He will carry out his own searches on the property to ensure that the property is free from mortgages and encumbrances before proceeding with the contract.

  • Contract of Sale

    The purchaser and the buyer sign a contract of sale. Upon signing the contract the lawyer applies to the Council of Ministers to obtain a permit to purchase the property.

  • Registration of contract of sale in the Land Registry

    Once both have signed the contract of sale, it must be stamped and deposited at the Land Registry Office within 180 days. This secures the buyer’s ownership rights until a separate title deed is issued.

  • Completion

    We will keep you informed with the progress of the property until completion. Approximately one month before your property is completed we will send you a notice. Once we receive the final payment for the property we will arrange the delivery. If you have purchased a completed property with us, delivery will be arranged as soon as the full payment is received in our account.

  • Issue of separate title deeds

    Once an individual property or development is completed, the Land Registry Office issues separate title deeds and transfers the title deed for each unit within a development to the purchaser(s). This process normally occurs within 2-3 years from the completion of a project.

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Contact Us

Should you have any questions about our services, please don’t hesitate to contact us by email or use the contact form below. We will do our best to respond to your inquiry as soon as possible. Please use English language to write your request.

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