Hi,
I just saw a house at the agricultural land. I haven't yet checked the documents, but I see that the house is registered on the cadastre map and is in the Title. I will for sure get the documents checked before going any further.
However I see one issue right away and don't know if it can be solved at all before running any further checks and negotiations.
I'm not EU citizen and the plot is over 4600m2. It's currently owned by a British couple through a company, registered in Cyprus. But I don't like this option due to the company running costs. Is it possible to buy 1/2 shares by two persons (e.g. me and my wife and/or my of-age son)? The part of the plot is used as an access road to some other plots and I'm ok to give it away to their owners or municipality? Any other options to buy it and get the Title in my name?
Best regards,
Mark
Big plot
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Re: Big plot
Hi Mark
You and your wife can buy the property in joint name. Check out my article - Buying property in Cyprus and visiting post Brexit.
Regards,
You and your wife can buy the property in joint name. Check out my article - Buying property in Cyprus and visiting post Brexit.
Regards,
Nigel Howarth
Independent information & advice for Cyprus property buyers
Contact Nigel Howarth
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Re: Big plot
Hi Nigel,
Thanks for the link, I've read it and I'm totally puzzled now. My lawyer replied today that she is not aware of any other option except buying through the company. She told that only one permission can be issued for a family, and she is not aware of any cases where permission was granted for the plots over 4014sqm. Thus she is pretty sure it cannot be done with me and my wife, though she is less sure about me and my of-age son, who has his own family, but still is sceptical if it can be done that way. Do you know which document defines this 4014 sqm limit? I've read CAP.109 law, but it's not set there. I also talked briefly with another lawyer who said they can do it, but so far he didn't sound very persuasively. I already heard that kind of answers too often, which turned out to be completely opposite when you start asking more detailed questions. Can you recommend any lawyer preferably in Paphos to get a second opinion?
brgds
Mark
Thanks for the link, I've read it and I'm totally puzzled now. My lawyer replied today that she is not aware of any other option except buying through the company. She told that only one permission can be issued for a family, and she is not aware of any cases where permission was granted for the plots over 4014sqm. Thus she is pretty sure it cannot be done with me and my wife, though she is less sure about me and my of-age son, who has his own family, but still is sceptical if it can be done that way. Do you know which document defines this 4014 sqm limit? I've read CAP.109 law, but it's not set there. I also talked briefly with another lawyer who said they can do it, but so far he didn't sound very persuasively. I already heard that kind of answers too often, which turned out to be completely opposite when you start asking more detailed questions. Can you recommend any lawyer preferably in Paphos to get a second opinion?
brgds
Mark
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Re: Big plot
Hi Mark
If only one permission can be issued for a family then you're stumped. I believe the law is CAP 109.
I suggest you get a second opinion from the Zambartas law office in Paphos.
Regards,
If only one permission can be issued for a family then you're stumped. I believe the law is CAP 109.
I suggest you get a second opinion from the Zambartas law office in Paphos.
Regards,
Nigel Howarth
Independent information & advice for Cyprus property buyers
Contact Nigel Howarth
Read the latest Cyprus property news
Independent information & advice for Cyprus property buyers
Contact Nigel Howarth
Read the latest Cyprus property news
Re: Big plot
First and foremost, as an non eu citizen you cannot buy more than 4000m2 and this is really the max. That said if the house is not registered to the title you cannot buy it anyway. In addition non EU cannot buy agricultural land.MarkT wrote: ↑14 Jun 2022 18:59 Hi,
I just saw a house at the agricultural land. I haven't yet checked the documents, but I see that the house is registered on the cadastre map and is in the Title. I will for sure get the documents checked before going any further.
However I see one issue right away and don't know if it can be solved at all before running any further checks and negotiations.
I'm not EU citizen and the plot is over 4600m2. It's currently owned by a British couple through a company, registered in Cyprus. But I don't like this option due to the company running costs. Is it possible to buy 1/2 shares by two persons (e.g. me and my wife and/or my of-age son)? The part of the plot is used as an access road to some other plots and I'm ok to give it away to their owners or municipality? Any other options to buy it and get the Title in my name?
Best regards,
Mark
As non eu, you can register 2 title to the family only, not one.
Any lawyer that says he can do it, stay well clear. The reason the current owners have it under a company is for the very reasons I mentioned above. There is no way round this.
For all your property needs, we offer Trust, Integrity, Honesty.
FSB Properties Ltd
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FSB Properties Ltd
Registered and Licensed Real Estate Company. Reg. No. 1145, Lic. No. 572/E
Member of ETEK Registration No. A201999
https://www.fsbproperties.com
Re: Big plot
Hi, thanks a lot for the additional comments. I've got it, will check with the accountants then how much is it going to be the annual cost for dormant company just holding the property. Now more just out of curiosity already, may I ask few more questions.
I still have not been able to find exact wording of this regulation and all sources formulate it in the same way without quoting original text, which, imho, allows different interpretations. Does it mean that non-EU citizen cannot buy even a small share in the plot over 4000sqm? Or does it mean that his share cannot be over 4000sqm? Or maybe I miss some other regulation and non-EU citizen cannot buy any shares and are allowed to buy only the whole object? My idea was that I'll buy 1/2 share of the plot (about 2300 sqm) and the house (it's registered and have 2 separate apartments so 1/2 shares can be defined in reality). The remaining share will be bought buy my son, who is formally independent and no longer a part of my family.
They told me that they had an idea to convert it into a kind of ecofarm tourist venture, and thus it was reasonable to have it registered under the company name from all points of view. But these are just their words, probably you are right that it couldn't have been done differently anyway.
Re: Big plot
Actually the max size for a house or business is 2676m2. Although I seems to remember reading somewhere that under speial conditions upto 4000m2 could be agreed with the council of minister. Of course you also need council of ministers permission to purchase anyway.MarkT wrote: ↑16 Jun 2022 11:24 Hi, thanks a lot for the additional comments. I've got it, will check with the accountants then how much is it going to be the annual cost for dormant company just holding the property. Now more just out of curiosity already, may I ask few more questions.
I still have not been able to find exact wording of this regulation and all sources formulate it in the same way without quoting original text, which, imho, allows different interpretations. Does it mean that non-EU citizen cannot buy even a small share in the plot over 4000sqm? Or does it mean that his share cannot be over 4000sqm? Or maybe I miss some other regulation and non-EU citizen cannot buy any shares and are allowed to buy only the whole object? My idea was that I'll buy 1/2 share of the plot (about 2300 sqm) and the house (it's registered and have 2 separate apartments so 1/2 shares can be defined in reality). The remaining share will be bought buy my son, who is formally independent and no longer a part of my family.
They told me that they had an idea to convert it into a kind of ecofarm tourist venture, and thus it was reasonable to have it registered under the company name from all points of view. But these are just their words, probably you are right that it couldn't have been done differently anyway.
This link http://www.cylaw.org/nomoi/enop/non-ind/0_109/full.html
Sec 3 - 1A specifies
Όταν η κτήση ακίνητης ιδιοκτησίας υπερβαίνει την απολύτως αναγκαία έκταση για την ανέγερση υποστατικού για κατοικία ή επαγγελματική στέγη και σε πάσα περίπτωση υπερβαίνει την έκταση των δύο σκαλών, η άδεια που χορηγείται από το Υπουργικό Συμβούλιο θα υπόκειται επίσης σε τέτοιους όρους, περιορισμούς, προϋποθέσεις και κριτήρια τα οποία ήθελαν καθοριστεί με Κανονισμούς που εκδίδονται από το Υπουργικό Συμβούλιο και εγκρίνονται από τη Βουλή των Αντιπροσώπων.
The portion in red reads 2 donums = 2676m2.
To build a house or building you need residential land, it is logical, so agricultural land is not building land and therefore does not come under this law, as it implies buildings hence residential land.
From experience any title transferred to non EU and Cypriots must be recorded in the title, I would be somewhat surprised if in your case it is. Unless you want to send a copy of the title to check it.
Hope that helps.
For all your property needs, we offer Trust, Integrity, Honesty.
FSB Properties Ltd
Registered and Licensed Real Estate Company. Reg. No. 1145, Lic. No. 572/E
Member of ETEK Registration No. A201999
https://www.fsbproperties.com
FSB Properties Ltd
Registered and Licensed Real Estate Company. Reg. No. 1145, Lic. No. 572/E
Member of ETEK Registration No. A201999
https://www.fsbproperties.com
Re: Big plot
Two donums in the quoted text is not an absolute limit, it just specifies that for bigger plots special conditions must be set by the council of ministers.
Here is the document which specifies the three donums limit - http://www.cylaw.org/KDP/data/1997_1_78.pdf
Νοείται οτι η χορήγηση αδείας δυνάμει του παρόντος Κανονισμού είναι δυνατή μόνο για-
(α) Απόκτηση διαμερίσματος ή κατοικίας/έπαυλης, που είναι ήδη κτισμένη ή είναι υπό ανέγερση. Η έκταση του ακινήτου που αποκτάται θα είναι περιορισμένη και δε θα υπερβαίνει τις τρεις σκάλες και με τον όρο ότι δε θα είναι δυνατή η ανέγερση οποιασδήποτε πρόσθετης οικοδομής, πέραν της υφισταμένης επί του συγκεκριμένου τεμαχίου γης·
(β) απόκτηση οικοπέδου ή τεμαχίου γης περιορισμένης έκτασης, το οποίο δε θα υπερβαίνει τις τρεις σκάλες, με τον απαράβατο όρο ότι θα κτισθεί μόνο μια κατοικία ή οικοδομή, εντός εύλογου χρονικού διαστήματος από την ημέρα της έγκρισης της αίτησης για χορήγηση της αναγκαίας προς τούτο άδειας, και η οποία θα χρησιμοποιείται αποκλειστικά για ιδιοκατοίκηση·
(γ) απόκτηση γης, για ανέγερση γραφείων ή υποστατικών ή αγορά ήδη κτισμένου υποστατικού ή υπό ανέγερση υποστατικού για σκοπούς επαγγελματικής ή εμπορικής στέγης. Σε περίπτωση . αγοράς γης θα καθορίζεται επακριβώς στην άδεια η ολική έκταση της περιγραφόμενης ακίνητης ιδιοκτησίας, ανάλογα με τις ανάγκες του αιτητή, ώστε να μην επιτρέπεται η απόκτηση απεριόριστης έκτασης γης, για τυχόν μελλοντικές ανάγκες.
However I still don't see a reason why bigger plot cannot be shared between several foreigners.
Here is the document which specifies the three donums limit - http://www.cylaw.org/KDP/data/1997_1_78.pdf
Νοείται οτι η χορήγηση αδείας δυνάμει του παρόντος Κανονισμού είναι δυνατή μόνο για-
(α) Απόκτηση διαμερίσματος ή κατοικίας/έπαυλης, που είναι ήδη κτισμένη ή είναι υπό ανέγερση. Η έκταση του ακινήτου που αποκτάται θα είναι περιορισμένη και δε θα υπερβαίνει τις τρεις σκάλες και με τον όρο ότι δε θα είναι δυνατή η ανέγερση οποιασδήποτε πρόσθετης οικοδομής, πέραν της υφισταμένης επί του συγκεκριμένου τεμαχίου γης·
(β) απόκτηση οικοπέδου ή τεμαχίου γης περιορισμένης έκτασης, το οποίο δε θα υπερβαίνει τις τρεις σκάλες, με τον απαράβατο όρο ότι θα κτισθεί μόνο μια κατοικία ή οικοδομή, εντός εύλογου χρονικού διαστήματος από την ημέρα της έγκρισης της αίτησης για χορήγηση της αναγκαίας προς τούτο άδειας, και η οποία θα χρησιμοποιείται αποκλειστικά για ιδιοκατοίκηση·
(γ) απόκτηση γης, για ανέγερση γραφείων ή υποστατικών ή αγορά ήδη κτισμένου υποστατικού ή υπό ανέγερση υποστατικού για σκοπούς επαγγελματικής ή εμπορικής στέγης. Σε περίπτωση . αγοράς γης θα καθορίζεται επακριβώς στην άδεια η ολική έκταση της περιγραφόμενης ακίνητης ιδιοκτησίας, ανάλογα με τις ανάγκες του αιτητή, ώστε να μην επιτρέπεται η απόκτηση απεριόριστης έκτασης γης, για τυχόν μελλοντικές ανάγκες.
However I still don't see a reason why bigger plot cannot be shared between several foreigners.
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Re: Big plot
Nigel Howarth
Independent information & advice for Cyprus property buyers
Contact Nigel Howarth
Read the latest Cyprus property news
Independent information & advice for Cyprus property buyers
Contact Nigel Howarth
Read the latest Cyprus property news