Purchasing property in Cyprus involves much more than simply choosing an apartment, house, or investment asset. It is a comprehensive process that requires legal due diligence, communication with banks and government authorities, and careful management of every stage of the transaction.

The team at OCM Real Consulting supports clients from the initial inquiry through to key handover and title deed registration, ensuring security, transparency, and confidence throughout the entire process.

How the Property Purchase Process Works:
1. Property Selection
We begin by understanding your goals, budget, and long-term plans before identifying properties that meet your requirements.
This may include:
• Residential property for personal use;
• Investment property;
• Property qualifying for Cyprus Permanent Residency;
• Commercial real estate.
2. Property Reservation
During the reservation stage, our legal team actively participates in the preparation and review of the reservation agreement, ensuring the protection of the client's interests, transparency of the transaction terms, and the minimization of potential legal risks from the very beginning of the property acquisition process.
This allows the buyer to:
• Remove the property from the market;
• Secure the agreed purchase price;
• Obtain sufficient time for legal due diligence.
The reservation period typically lasts up to 30 days.
3. Legal Due Diligence
At this stage, a comprehensive legal review of the property is conducted.
The review includes:
• Verification of ownership rights;
• Examination of existing charges, mortgages, or encumbrances;
• Review of planning and building permits;
• Compliance with applicable legislation;
• Verification of the property's eligibility for title transfer.
Our objective is to ensure that the property is legally secure and suitable for acquisition.
4. Preparation of the Sale and Purchase Agreement
Once the legal review is completed, the Sale and Purchase Agreement is prepared.
We carefully review and monitor:
• Payment terms;
• Property handover timelines;
• Protection of the buyer's interests;
• Registration procedures;
• Additional obligations of both parties.
Before signing, we provide a detailed explanation of all contractual terms and conditions.
5. Contract Signing and Payments
Following agreement on all terms, the purchaser signs the contract and proceeds with the scheduled payments.
Where necessary, the transaction may be completed through a Power of Attorney without the buyer being physically present in Cyprus.
6. Contract Registration
The executed contract is registered with the Cyprus Land Registry.
This provides additional legal protection and safeguards the buyer's rights until the title deed is issued.
7. Preparation of Government Applications
Where applicable, we assist with the preparation and submission of:
• Reduced VAT rate applications;
• Applications for permission to acquire property by non-EU nationals;
• Other documentation related to the property acquisition process.
8. Property Handover
Upon completion of all contractual obligations and final settlement, the buyer receives the keys to the property.
9. Title Deed Transfer
Following completion of all legal procedures, the Cyprus Land Registry registers ownership in the buyer's name and issues the Title Deed.
Purchasing Property with Mortgage Financing
Where a property is purchased with mortgage financing, additional stages are involved, including:
• Preliminary mortgage eligibility assessment;
• Preparation of the banking documentation package;
• Communication with financial institutions;
• Mortgage application support;
• Negotiation of financing terms.
We assess approval prospects in advance and help clients avoid common reasons for mortgage rejection.
Off-Plan Property Purchases:
When purchasing property under construction, we additionally monitor:
• Developer permits and approvals;
• Construction schedules;
• Payment milestones;
• Bank guarantees;
• Project completion timelines.

VAT on Property Purchases in Cyprus
The purchase of new property in Cyprus is generally subject to VAT.
The standard VAT rate is 19%.
In certain cases, buyers may qualify for a reduced VAT rate of 5% when purchasing a property intended as their primary and permanent residence.
As the regulations governing reduced VAT rates are subject to change, we recommend obtaining professional advice before signing any agreement.
The specialists at OCM Real Consulting will assess your eligibility, prepare the required documentation, and assist throughout the application process.

Why Clients Choose OCM Real Consulting
Comprehensive end-to-end transaction management
Legal protection and due diligence at every stage
Collaboration with trusted professionals and partners
Assistance with mortgage financing and bank account opening
Support in Russian, English, and Greek
Personal guidance until the successful completion of the transaction
We do not simply help clients purchase property in Cyprus.
We help them do so safely, professionally, and with a complete understanding of every stage of the process.

Service Fee
From 1% of the property purchase price.