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Frequently asked questions
How to buy commercial property in Limassol?
Here are the simplified steps to purchase a commercial property in Limassol:
- Decide how much you can spend on the property and extra costs like taxes and transfer fees.
- Find a property that meets your budget and requirements, considering location, size, and what the place offers.
- Contact our real estate agent to express your interest.
- Arrange a viewing of the property and ask any relevant questions.
- Make an offer to the seller. We can assist in negotiating a better price.
- Once the offer is accepted, hire a lawyer to handle the legal process. We can help you to find a reliable property lawyer in Limassol.
- Check everything with your lawyer to avoid issues later. Look into the property's history, paperwork, and possible problems.
- Pay a deposit to secure the property and sign a pre-contract (Reservation agreement).
- Proceed with signing the contract and paying part of the remaining balance.
- If you are a non-EU citizen, obtain permission from the Council of Ministers through your lawyer.
- Stamp the contract of sale and register it with the Limassol Land Registry Office. Pay the remaining part of the purchase price.
- If the property has title deeds, before paying the remaining balance, you must get a Land Registry appointment, pay the transfer fees, and transfer the title deed.
- If the commercial property is new, 19% VAT is applicable, and there are no transfer fees.
We can assist you at any step of the process.