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This page is updated with answers
to questions we get on a regular basis, based on feedback
we get from our customers.
If you don't find an answer, contact us and we shall endeavour
to provide the answers. |
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1. How safe is buying property in Cyprus and what protection do I have as a purchaser? |
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The contract when signed is lodged with the land registry. Under Cypriot Law the title deeds (under specific performance) will be owned solely by the purchaser including any building works completed to date. This in line with the stage payments made ensure that the purchasers will hold land and building works to the value of the payments made at all times and this may not be taken away. This gives total security for the purchaser until completion of the property and the issuing of the title deeds. |
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2. When resident in Cyprus do you still have to pay N. I. Contributions in UK to get your pension? |
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Uk pensions are easily transferable to Cyprus. For individuals, CYP 2,000 of pension income from abroad is recieved tax free p.a., and thereafter income tax is applied at a very low rate of 5% to amounts above this. Additionally, Cyprus has double taxation agreement in place with many countries including the UK, to prevent double taxation of income. We can refer you to a tax advisor in Cyprus to answer any individual questions you may have. |
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3. Can I work legally in Cyprus? |
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Since May 2004 Cyprus has been an EU member and all working conditions will adhere to EU laws. |
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4. When you sell property in Cyprus can you bring all the money out, or are there restrictions? |
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There are restrictions, however you can transfer money from Cyprus to the UK as long as there is a certificate of taxes from the government verifying you don’t owe any taxes - e.g. on sale of your villa. |
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5. Annual property tax, please explain as many people are confused to the amounts. |
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There is no such thing as ‘annual property tax’ however the annual costs associated with owning a villa are as follows:
Local authority, Electricity tax and water tax.
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6. How long generally to build a house? Do you complete your developments all at once? |
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Houses are built in stages, DND endeavor to complete developments within a 12 month timeframe. Please bear in mind that local conditions sometimes extends the time taken to deliver your property. |
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7. Can you supply a complete furniture package, if so, how much? |
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Yes, we have several different packages, are provided in grades of bronze, silver and gold, please use our "Contact" page if you would like us to send you further details. |
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8. Do you have a list of optional extras with cost i.e. solar panels, air-con units, jaccuzzis, etc. |
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Yes we do - our Project Manager will be only too pleased to help you choose from our wide range of existing "extras", or to help source that "something special" just for you - please use our "Contact" page to ask us about your requirements. |
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