Cyprus is a wonderful place to invest in properties. It has a wonderful location in Europe and enjoys sunny weather for long periods of time during the year. The country has some fantastic schemes for residency and citizenship and this is the reason buyers from all over the world try to invest here. To get the best property purchase options in the country, a law firm Cyprus with property lawyers in its payroll is your best bet.
Should you buy property in Cyprus?
Cyprus is a great place to buy properties. It is a country that attracts tourists throughout the year and the property market is, thus, always abuzz with investors. As mentioned above, the location and the climate of Cyprus make it a wonderful place to stay. Someone could even invest in a property for renting it out and they are bound to make significant income. The property purchase regulations in the country are also favorable and make it easy for someone to invest here.
Foreigners buying property in Cyprus
Someone who is a permanent resident of Cyprus and a European Union citizen will have no issues purchasing property in Cyprus – there are no restrictions so to speak of. However, if someone is not a permanent Cypriot resident, irrespective of whether they are EU citizens or not, there are certain formalities and regulations that they need to adhere to.
A law firm that specializes in properties can act as the intermediary when a foreign resident wishes to invest in property in Cyprus. All paperwork will be handled by the law firm and it will also liaise with the relevant departments to make the purchase convenient.
Once the initial work is done and a sale & purchase document has been obtained, the formalities will be completed. The formalities include the payment of stamp duties, the legalization of the sales agreement with the Inland Revenue Department and the registration of the sales agreement with the Land Registry Department. Once all this is done, the buyer will be the official owner of the property and will hold legal rights over it.
Foreign buyers can also opt to purchase a second property when they have sold the first property. Purchase of a second property while still in ownership of the first property is allowed if the owner has spent considerable time residing or working in Cyprus. A law firm can advise on this matter.
The importance of advisory
Buying a property means someone makes a significant investment and their interests can be safeguarded by a law firm Cyprus. A top law firm will oversee all the aspects of buying a property – checking whether the seller has the rights to the property or not and also going through the finances and the credit rating of the seller. If the rate of the property needs to be negotiated, this can also be undertaken by the law firm. Some of the law firms even negotiate with the banks for the best rates should someone require their purchase to be financed.
Then there is the usual job of concluding the sale & purchase document and the other processes that have been detailed above (foreign buyers). All in all, the law firm will handle the entire process from beginning to end and will only conclude their job once the buyer has legal rights over the property that was purchased.
Settling property disputes
Many properties go through disputes. The disputes could range from ownership, breached contracts, delays in payment and issues with the procurement of the title deeds and so on.
Wherever properties are rented out, there could be disputes between the landlord and the tenant, between neighbors and from trespassing and more.
In all such cases, there is no better alternative than hiring one of the top property lawyers in Cyprus. These lawyers have years of experience handling such disputes and they will always have the best interests of their clients in mind. The top lawyers work in completely ethical manner and see to it that their client benefits in the way they expected to.
Whether you are interested in purchasing a new property or settling a dispute related to your existing property, it is never a good idea to go about the job independently. You may end up wasting time and resources. A top property law firm in Cyprus can be hired easily and they can handle all your property-related matter with their experience. Your job gets done and you don’t need to sweat over it for sure.To get the best deal related to a property, you should consider a top law firm Cyprus ( http://www.kaimakliotislaw.com ) with property lawyers ( http://www.kaimakliotislaw.com ) on its payroll.