Rules for UK nationals with MEU03 Buying Resale property

[JohnTB]

Louise, Nigel

My wife and I jointly own two properties in Cyprus and we are looking at a third for investment.

We are aware of the new third country rules for UK nationals since Brexit but not in too much detail.
Additionally for your information my wife has an Irish passport so is an EU citizen.

We have also considered investing with another UK national (MEU03 residency), to jointly buy but we're not sure of the rules for instance, can we legally buy another property as third country nationals post Brexit and additionally could we rent this property etc.
The property purchase would be cash also so no lenders would be involved.

Can you please advise the rules that we need to consider when buying a second or third property or if it's allowed under the third country national rules considering the following situations:-


1. My wife is an EU citizen, could she buy additional property in her name whilst jointly owning to other properties?

2. Could an EU citizen and a UK national with MEU03 residency and part ownership in two other properties (bought prior to Brexit), buy another property?

3. Could two UK nationals with MEU03 residency and one other joint property ownership each buy another property jointly?


Thanks in advance for your help with this matter, cheers

Regards
John B

[Pantheman]

Dear John,

I will try to answer your questions below:

1. My wife is an EU citizen, could she buy additional property in her name whilst jointly owning to other properties? An EU Citizen can own as much property as they like, no limit.

2. Could an EU citizen and a UK national with MEU03 residency and part ownership in two other properties (bought prior to Brexit), buy another property? Any non EU citizen (irrespective of their MEU3 status) cannot register more than 2 titles to their names. This would be 2 titles for a married couple. If you intend to register titles to your names then the answer is no.

3. Could two UK nationals with MEU03 residency and one other joint property ownership each buy another property jointly? As explained in 2 above. The MEU3 status does not play any role in this. You are either a 3rd country national or not.

A 3rd country national, I believe can purchase property on sale or assignment contracts, but will not be able to register the title deed when it has been produced. The max limit is 2 for 3rd country nationals.

Hope that helps

[JohnTB]

Pantheman, thanks for your reply.

I have two other questions you may be able to help with as follows:-

1. Can a married third country national who already jointly owns a property with their spouse, purchase a second property jointly with an EU citizen?

2. If yes to the above then could this property be rented out and would the third country national be able to register the property jointly with the EU citizen?

Thanks for your assistance,

Regards
JohnB