Acquisition Permit
by Chris Michael
Updated: July 16, 2024
An acquisition permit in Cyprus is a formal authorization required for specific individuals, particularly non-EU citizens, to acquire property. This permit ensures compliance with local laws and regulations and is an obligatory step in the property acquisition process for foreigners.
You can get permission by submitting Form Comm. 145 (PDF, EN) to the District Officer where the property is situated. DevelopersCyprus can assist you in preparing and submitting the application.
The property acquisition permit in Cyprus is officially known as the Council of Ministers Approval.
You need a signed contract of sale to apply for Approval.
Rules for third-country nationals
- Before buying real estate in Cyprus, you need approval from the Council of Ministers. Getting the approval is straightforward; DevelopersCyprus or your lawyer will help you with it using Form. Comm. 145.
- This real estate cannot be larger than necessary; if it is, the Council of Ministers can impose conditions. A TCN can get a house, a professional roof, or land not exceeding 4014 sq m and no more.
- The Council of Ministers will usually approve good faith applications.
- You need a clean criminal record and proof of means to support yourself decently in the Republic.
Relevant legislation
The relevant Cypriot law is The Immovable Property Acquisition (Aliens) Law, Cap. 109.
