Your own property in Cyprus!

 

Dear Customer,

Searching for properties can be exiting on one hand, difficult and very demanding on the other. Based on our past experience and the market knowledge gained throughout the years with our local network available, we have the opportunity to identify and propose the most reliable and quality based companies available on properties and development sector.

Our company TECOMA SERVICES LIMITED and its exclusive property department TECOMA PROPERTIES aim to assist you choose your ideal property, selecting from an extensive range of villas, houses, apartments and offices for sale/rent, guiding you directly to the correct place, always according to your desire and expectation. Modern or classic style, new or old-fully renovated, located by the sea or hill/mountain, in city or countryside, luxury/expensive or nice simple and affordable, with swimming pool or fountains, with balcony or garden… Our extensive portfolio of property options is available for you at any time in any location on the island.

Furthermore, we are happy to provide information regarding regulations and related legalities. Indeed, buying property in Cyprus is not as complicated as in other countries. In co-operation with our trustful lawyers, we can assure that all your legal formalities will be made according to your personal interests and guide you through all necessary stages of your purchase. All our customers are rewarded with continuous professional customer care before, during and after the purchase, including property management, rental, lifestyle suggestions, investment proposals and mortgages.


Find properties available at our web site http://tecomaproperty.com/index.php?lang=en

REQUIREMENTS FOR PURCHASING PROPERTY IN CYPRUS (LEGALITIES)

FINANCING YOUR CYPRUS PROPERTY PURCHASE: Property financing options in Cyprus include:
Outright payments
Mortgages or loans
Our credit control executives can help you choose the financing option best suited to you.

SELECT & RESERVE YOUR CYPRUS PROPERTY: The first stage of purchasing an off-plan property entails payment of a reservation fee. A nominal deposit of €5,000 is required to reserve a property with a purchase value under €500,000 and a deposit of €10,000 is required to reserve a property with a purchase value greater than €500,000. Reservation fees are transferable to another property or family member for a period of one year.

LEGAL: We recommend that clients take independent legal advice from a local lawyer and are able to refer you to a number of reputable lawyers in Cyprus.

CYPRUS PROPERTY CONTRACT OF SALE: The Cypriot legal system is British based. All contracts of sale are private agreements between the vendor and purchaser and must by law, be in writing. To ensure that you understand everything, developer prepares all contracts of sale in English.

FILING YOUR CYPRUS PROPERTY CONTRACT OF SALE WITH THE LAND REGISTRY: Once you have signed your contract of sale, your lawyer should file this with the land registry within 60 days. This is termed “Specific Performance’ and ensures your beneficial rights to property ownership are legally protected. Once filed, your contract of sale cannot be withdrawn by anyone other than yourself, meaning that your property cannot be leased, sold, transferred or mortgaged without your consent.

CYPRUS PROPERTY STAMP DUTY: This is a one off payment borne by the purchaser and is payable to the land registry in the district of the property’s location. Your lawyer can effect the payment on your behalf, which is due within 30 days of signing the contract.
Property Value  Stamp Duty: Up to €170,860 = 0.15%, from €170,860 and above = 0.20% 

CYPRUS PROPERTY TRANSFER FEES: Upon transfer of the property and registration in the purchaser’s name, the District Land Registry Office will charge transfer fees. These are based on the market value of the property at the time of purchase and are calculated as follows: 
Value                                 Rate 
Up to €85.430,07                3% 
€85.431,08 - €170.860,14   5% 
Over €170.860,15               8% 
There is currently a transfer fee incentive scheme in place until 31st December 2012.

The changes apply to the first sale of a property, where the contract is dated and deposited at the Land Registry by the end of the year. Specifically:
For those who pay VAT on their house purchase, property transfer fees are waived.
For those who do not pay VAT on their purchase, property transfer fees are reduced by 50%.

NEWS
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MAIN OFFICE ADDRESS:

Feel free to contact with us

Arch. Makariou III 20, Eleneio Bulding,
Shop 3, 6017 Larnaca, Cyprus

P.O.Box: 40399, 6303 Larnaca, Cyprus

Tel:(357) 24 659706
Fax:(357) 24654502
24 hours contact: (357) 99 356998

e-mail: info@tecomaservices.com.cy
ABOUT OUR COMPANY


Tecoma Services Limited has been formed in 2009 and begun its official operations in June 2010.