Cyprus Property Dreams
You do not part with a single penny for using our service
worldfemdom.org

Title deeds amnesty in Cyprus nears Deadline

The deadline is 7th October 2011 If you are one of the many still waiting for your ‘final certificate of approval’ for your title deeds, then a recent change in the law in Cyprus Property may help you. 

Many property investors in Cyprus have become frustrated over the years, due to the absence of their title deeds. Despite ever increasing publicity on the subject, it has been down to individual homeowners to fight through the red tape in order to achieve what rightfully should be theirs, in a process that has often taken years. This has led to a stagnation of the property market, with owners being unable to sell their property on. 
 
Although there are estimated to be around 100,000 buildings with minor planning irregularities, only some 1,800 amnesty applications have been made to date. 
 
The intention of the amended legislation is to enable owners to legalise minor building regulations, which will secure the required certificate of approval and update the title deeds of the property. Furthermore the new planning law means that property-owners can also lodge an application to force the developer, if applicable, to take steps to obtain all necessary certificates for the development, leading to the issue of title deeds. 
 
Although there are estimated to be around 100,000 buildings with minor planning irregularities, only some 1,800 amnesty applications have been made to date. 
 
 
 
In these cases, they can apply to their District Office for certified copies of their Planning/Building permits and approved drawings. They will need the number of the Planning/Building permit, a copy of their contract and proof of their identity (an ID card or passport). 
 
The certified copies will cost €27 but they will get the actual documents relating to their property. It should then be easy for most people to see if their property was built in accordance with the permit. In Paphos, the District Office has promised to issue the documents on the same day. 
 
Those who are unable to obtain the number of their Planning/Building permit should speak with the planning officer responsible for their area who should be able to advise and provide them with a certified copy of the documents. 
 
However, a ‘form of intent’ to go through the planning amnesty process has to be submitted to the authorities by 7th October 2011 
 
The planning amnesty in respect of ownership of ‘title deeds’ was long overdue for Cyprus. But, as a further boost to the island’s residential property market, the Cyprus Finance Minister, Kikis Kazamias, has also announced that VAT payable on new homes by first time buyers will be reduced from 15% to 5%, applicable on properties measuring up to 275 square metres, with additional square meter allowances for covered parking, engine/boiler rooms, storerooms and covered verandas.
We offer you free and factual advice from personal experiences,
we have property bargains and the latest news about the island
and its developing future with new marina's and other infrastructure projects creating high demand for property. Sign up now for Cypruspropertydreams.com Newsletter
Add Your Email here For
The FREE Buyers Guide
* = required field

powered by MailChimp!
Buyers Guide Everything you need to know about buying property in Cyprus. Click the button to get your free copy.
Request a Callback Prefer to discuss your requirements? Click the button, add your details to the form and we will call you. We are very friendly people and there is zero obligation!
Subscribe to our Newsletter To receive regular property updates by email click the button and add your email address in the form.
Property Search
Location
Category
From (€)
To (€)
Bedrooms
Ref

Add this

Share |
RSS Feed

Currency Convertor

About us

Our Unique Service

 

First, each member of our team originates from the UK so there are no communication barriers.

Second, each of us has bought property in Cyprus and understands the the processes from first-hand experience. This has enabled us to help many other people buy property in Cyprus with confidence.

Testimonial

Testimonials


John Munroe
I have just returned from a week in Cyprus that concluded with the purchase of my dream villa and would like to take the opportunity to thank the Living-Cyprus team for a most professional service both prior to and during my visit. All...

» Read More