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We've gathered every term a Cyprus investor needs to know — from the Land Registry and title deeds to reduced VAT on a first home and the Permanent Residency route. No jargon left undefined, so you can read a contract with confidence.
Basics
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Construction & Handover
6 termsA property bought before or during construction, directly from the developer. Off-plan prices typically run 15–30% below ready stock, with staged payment plans during construction and a Down Payment to reserve, often plus a Post-Handover component.
How a Cypriot apartment is handed over. A turnkey unit — the norm for new Cyprus developments, including Square One projects — is delivered fully finished: fitted kitchen, wardrobes, tiled bathrooms, flooring and provisions for air-conditioning, ready to occupy or let from day one. A white-frame (white-box) shell, handed over unfinished for the buyer to fit out, is common in some emerging markets but rare in the Cyprus primary market. Always confirm the exact specification and appliance list in the sale contract.
A finished unit, available for immediate occupancy or rental. Ready property costs more than off-plan but carries no construction risk. Handover is the moment the developer delivers the keys — usually after a Snagging inspection.
A detailed inspection of a new unit before you accept handover — checking finishes, fixtures, plumbing, and electrics. A professional Snagging Inspector flags defects for the developer to fix before you take the keys.
A warranty window after handover during which the developer must fix defects at no cost, as defined in the sale contract — typically covering the building fabric and core systems for a set period after delivery.
A developer that plans and builds an entire scheme to a single standard. In Cyprus, established builders such as Square One deliver whole residential communities and seafront towers in Limassol to a single specification, handed over fully finished on staged, interest-free payment plans.
Financial
4 termsYearly fees for maintaining shared facilities (lobby, pool, gym, gardens, security), charged per square metre of your unit and set by the building's management committee — covering the upkeep that keeps a managed residence running.
The initial payment to reserve an off-plan unit — usually 5–10% of the price. It locks in your unit and price, with the SPA typically signed within 7 days of the booking.
A construction-linked payment plan with no interest charged. A representative Cyprus structure is a 30–40% deposit staged through the build, interest-free, with the balance due on completion and handover — typically across a two- to three-year construction period. The exact split and milestones vary by developer and unit and are set out in the sale contract.
Cyprus is a light-tax jurisdiction for property owners. There is no annual national property tax, and no inheritance, gift or wealth tax, and stamp duty on property contracts was abolished in 2026. A new-build first home for owner-occupation is charged reduced VAT of 5% (on the first 130 m² up to €350,000) instead of the standard 19%. Capital gains on a Cyprus property are taxed at 20% on the gain, with lifetime exemptions, while qualifying non-domiciled residents pay 0% on dividends, interest and rental income for 17 years. Confirm current rates with a Cypriot tax adviser.
Residency
1 termA renewable residence permit available through a qualifying property purchase. Cyprus offers a fast-track permanent residence permit from €300,000 (plus VAT) in new property, supported by a secured annual income of at least €50,000 from abroad, with a spouse and dependent children able to qualify under the same investment. This is a residence permit, not citizenship — the Cyprus citizenship-by-investment programme was discontinued in 2020. Figures are market-sourced and subject to change. We handle the application end to end.
Market
1 termThe total return on an off-plan purchase, combining capital appreciation between launch and handover and the rental yield once the unit is let. Gross apartment yields in Cyprus run around 5–6% (Global Property Guide), reaching 6–7% for compact, central units and higher again for managed short-let on the Ayia Napa coast in peak season. We benchmark every projection against real comparable transactions. Figures are market-sourced and subject to change.
