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Acquisition Permit

An acquisition permit in Cyprus is a formal authorization required for specific individuals, particularly non-EU citizens, to acquire property. This permit is necessary to ensure compliance with local laws and regulations. It's a crucial step in the property acquisition process for foreigners. You can get the permission by submitting Form Comm. 145 to the District Officer in whose district the property is situated.

Why it is important

Acquisition permits in Cyprus are essential for non-EU citizens looking to buy property. The permit process involves verifying the buyer's eligibility and the legality of the transaction. It can affect the timeframe of property purchases for foreigners. Understanding the requirements for acquisition permits is key to a smooth transaction. The permit ensures that foreign property ownership adheres to Cypriot regulations. The relevant Cypriot law is The Immovable Property Acquisition (Aliens) Law, Cap. 109.