Firstly, a preliminary contract is signed. This binds both the vendor and the purchase to buy and sell the property on terms and conditions that have been mutually agreed. This is subject to the purchaser being able to receive good title to the property and obtaining the necessary permits from the Cypriot government.At this stage, a deposit is lodged with a Lawyer or a Notary.The purchases lawyer will now carry out the searches at the District Land Registry to ensure that the vendor of the property is indeed, the owner and ensures that the purchaser obtains good title to the property.

Upon signing a contract, the Purchaser is liable to pay stamp duty which amounts to 0.115% of a purchase price up to CY 100.000, and then at a rate of 0.2% on any purchase price in excess of CY100.000.Land registry fees are payable when the owner ship of the property is transferred. This is on a sliding scale, ranging from 5% to 8% depending upon the value of the property.

Furthermore, it is not sufficient to merely check the zone of the property under consideration but one should also check the zone of the neighbourhood in general. This is so, since your plot may be within an agricultural area but a few feet away there may be another zone, say industrial or animal farming, which will create nuisance to your property.If an area is not subject to zoning, it is best to consult an expert or even pay a visit to the Planning Office and consult, unofficially, the officers on their views on the possible planning use of the area under consideration.

Try to check whether there is any road or other scheme which affects your property or the locality in general. It is advisable that you buy a recent Lands' and Surveys' plan (a whole sheet) for the property you intend to buy, since on these plans many proposed public projects such as roads etc are shown. It is best, if you suspect any schemes in the area you wish to invest, to see the District Inspector (at the District Officer's Office) and/or pay a visit to the local Planning Office.

The transfer of the title can be effective once the Council of Ministers' permission is obtained along with confirmation of receipt of the foreign funds. Upon transfer and registration in the purchasers name the district Land Registry Office will charge transfer fees which are based on the market value of the property at the time of purchase - as follows: Value up to CY50,000 - 3% CY50,001 - CY100,000 - 5% CY100,000+ - 8%