Buying Property in Cyprus: A Full Guide for Non Residents

Foreign nationals can buy property in Cyprus, but the rules differ for EU and non-EU citizens. Non-EU buyers, including UK and US citizens, have to apply for a “Permit to Acquire Immovable Property,” which is processed fast if you have a clean criminal record, and the property cannot be officially transferred until the permit is approved. Non-residents are also limited to one house, one apartment, or two units for personal use. In 2026, new restrictions were added to prevent purchases near the Green Line, coastal strips, and sensitive areas like ports for security reasons.

The Cyprus real estate market has moved from an investment surge to a stable, high-demand phase, which has mainly been driven by its 2026 entry into the Schengen Area and its EU Presidency. These changes have made property more than just a lifestyle purchase, but a strategic mobility asset, as residency holders can now enjoy visa-free travel across 29 European nations. Transaction numbers are also expected to rise by 20% in 2026, while demand for Grade A offices and high-end rentals is growing as international companies relocate to the island. Buyers also benefit from the ending of stamp duty on property contracts.

• Visa-free travel: Permanent residents can visit 29 European countries for up to 90 days within any 180-day period, making travel and business trips much easier.
• Fast-Track permanent residency: Non-EU nationals who invest €300,000 plus VAT in a new-build property can secure Permanent Residency through the Cyprus Golden Visa.
• 0% Tax on Foreign Income: Under the 17-year Cyprus Non-Dom Tax regime, residents pay no tax on worldwide dividends, interest, or rental income.
• Lower entry costs: Stamp Duty and the Immovable Property Tax have been abolished, which reduces the upfront and ongoing costs of property ownership.
• Higher tax-free allowances: Personal income tax-free limit was increased to €22,000, and the first €5,000 of foreign pensions is fully exempt, but amounts above that will be taxed at 5%.
• No inheritance tax: Residents can transfer wealth to heirs tax-free, giving investors the benefit of long-term estate planning.
• Strong rental yields: Cities like Limassol and Larnaca see average rental returns of 6%–8%, which is influenced by international companies relocating headquarters to the island.

The Cyprus Golden Visa is another one of the few remaining programs that still allow non-EU residents to gain permanent residency by making a real estate investment, among other options. To qualify through the following property purchases and requirements: 

• Buy a Residential Property: Invest €300,000 excluding VAT in a residential property. At least €200,000 plus VAT must be paid before applying. Funds must be sourced abroad and deposited in a Cypriot bank before reaching the seller.
• Buy a Commercial Property: Invest at least €300,000, excluding VAT, in a commercial property, such as an office, shop, or hotel. These properties can be resold.
• Applicant must prove a secure annual income of at least €50,000. The income requirement increases by €15,000 for a spouse and €10,000 for each dependent child.

Step 01/ Find the perfect property and hire a lawyer

If you are looking to buy property through the Cyprus Golden Visa, working with a Cyprus Immigration Lawyer through a trusted agency like Global Citizen Solutions, who will help at every step of your property purchase, should be the first step. From there, you can begin the search for your perfect home in Cyprus. 

Step 02/ Reserve the property

Once you find the right property, pay a reservation fee of €2,000–€10,000 and sign a Reservation Agreement. This temporarily takes the property off the market for 2–4 weeks while your lawyer begins due diligence.

Step 03/ Legal due diligence

Your lawyer checks the Land Registry to confirm the property has a clean title, no mortgages or legal claims, and all required planning and building permits are in place. This step is especially important for new constructions.

Step 04/ Sign the contract and lodge it

After signing the contract and making the first major payment of around 30% for new builds, your lawyer lodges it with the Land Registry. This step, called Specific Performance, prevents the seller from reselling or mortgaging the property while the purchase is pending. Stamp duty has been abolished on new property contracts, so this will reduce your closing costs.

Step 05/ Non-EU approval (if required)

Non-EU buyers must apply for an Acquisition Permit (Form Comm. 145). This usually takes one to three months, depending on the district. You need a clean criminal record and proof of funds, but you can move in while waiting for approval.

Step 06/ Final payment and title transfer

Once the permit is approved and the remaining balance is paid, the seller provides tax clearance certificates. The Title Deed is then officially transferred at the Land Registry, either in person or via Power of Attorney. Land Transfer Fees are usually waived for new builds with VAT, while resale fees range from 3%–8%.

Yes, non-residents can get mortgages in Cyprus, but the process is more restrictive. Banks lend foreign nationals 50%-60% of the property value, which will require a 40%–50% down payment.  Interest rates across several banks range from 4.5% to 5.5%, and loan terms are 10–25 years, with the loan to be fully repaid between the ages of 65 and 70. Banks also check that your global monthly debt is no more than 30%–35% of your net income, and if your earnings are in a non-Euro currency, they may reduce your calculated income by 10%–20% to account for exchange rate risks.

Best banks for non-residents

• Eurobank Cyprus: Currently the most active lender for non-resident holiday home and investment loans.
• Hellenic Bank: It is known for having a reliable department for expats and international buyers.
• Bank of Cyprus: While they lead the market, they require non-EU nationals to have a clear path to residency or a link to the country  before approving high-value loans

01/ Larnaca

Larnaca is Cyprus’s fastest-growing property market, with neighborhoods like Mackenzie and Drosia seeing prices rise to  6%–8% per year. The growth is driven by the multibillion-euro redevelopment of the Port and Marina. It is considered the sweet spot for investors because entry prices are roughly 30% lower than in Limassol, yet the potential for profit is higher. 

02/ Limassol

Limassol has made its name as Cyprus’s “Tech Island,” and has the highest property prices, averaging around €5,030 per m² for apartments. But the attention has shifted to Zakaki, where former industrial areas are being turned into luxury housing. It is opening itself up as a good choice for investors looking for high-demand properties. 

03/ Paphos

Paphos is still the most popular area for buyers using the Cyprus permanent residency by investment program, mainly because it has many high-quality new-build villas. Universal and Kato Paphos are doing especially well in rentals, attracting both long-term expats and summer tourists, with returns of around 5%–6% per year. 

04/ Nicosia

Nicosia, as the capital, offers the most resilient year-round market because it is directed by local professionals, universities, and embassies rather than tourism. Neighborhoods like Engomi and Strovolos are standouts for providing consistent 5.5% yields. It is the safe bet for conservative investors who want to avoid the seasonal uncertainty  of coastal resorts 

05/ Famagusta

For investors focused on short-term holiday rentals, the Protaras region is the top performer, with occupancy rates averaging 59%–61%. Although it is seasonal, high summer rates can generate substantial returns. The market is also moving toward wellness-focused luxury villas, as buyers now prefer privacy and premium features.