Property investments solutions Limassol, Cyprus with CDA group: Alliance members include large (working all over the island) and medium-sized (specializing in one region) developers. In addition to large and medium-sized players in Cyprus, there are also small developers – family companies, initially focused on the domestic market. They do a great job, both in design and quality, however in foreign markets nothing is known about them. For such companies, opening representation in other countries, participation in foreign exhibitions and events, arranging advertising campaigns and so on is too complex, both financially and organizationally. We would happily like to note that some family-owned developers have already been accepted into the Alliance and we are open to further work in this direction. Discover extra details at apartments for sale in Limassol.

Execution of Property Sales Transaction – Property acquisition in Cyprus as well as in any other country is a certain legal procedure that shall be observed by all the parties concerned. You will be able to find detailed information on legal aspects of the transaction on the page Legal Issues. In case you wish to make use of a mortgage credit, a Cyprus bank becomes a participant of the process. You will have to prepare a set of documents and draft them appropriately. We will offer you assistance in this. Information on mortgage is available on the page Mortgage & Credit. Information on taxes and duties arising due to property acquisition in Cyprus is available оn pages VAT and Other taxes.

The essence of contract deposition is that the public register processes and secures the status of your ownership. From now on only you can, in particular, mortgage yourproperty while the vendor will be unable to do it any longer as henceforth you hold the first right of claim. Simultaneously with deposition, a payment of a small Stamp Duty is made, that is described in Section “Taxes” in detail. Upon full payment of the property and on signing of a Delivery note, you will receive keys for your property and will become a beneficial owner possessing this property.

Developer’s participation in the procedure of property sale has ceased to be mandatory. The customer who wishes to sell property and a new customer can make a sales transaction independently. For this purpose the deposited initial contract is assigned to a new customer. The old and the new customer as well as their lawyers take part in the procedure without the developer’s participation. And finally it should be said that the Government of Cyprus has undertaken to transfer the circulation of documents associated with execution of Title Deeds into electronic format. Business process automation will dramatically decrease the time frame of Title Deeds issue.

To obtain a mortgage one is required to have life insurance (for the amount and period of the mortgage credit). The purchased property shall be insured as well. The normal period within which a bank makes a decision on issuing a credit comprises 1-2 months upon receipt of all the required documents. Generally accepted standard practice in Cyprus assumes 12-month warranty period for your immovable property provided from the time of property delivery that is from the time when you receive a key of your apartment, townhouse or house.

High standard of living – Cyprus has been a member of the European Union since 2004. Since 2008 Cyprus has been in the Euro Zone. According to GDP per head Cyprus has caught up with Italy. Average lifetime is 78 years by men and 81 years by women. Cyprus has modern and effective Healthcare system. Perhaps in Cyprus there is one of the best systems of secondary education in the entire Mediterranean. One can choose both English and Greek and even Russian schools. There are private English schools providing complete cycle of primary and secondary education in all the major cities of Cyprus. Discover extra details on CDA group.