Such permission is required both on purchase of freehold and on leases exceeding 33 years. Normally permission is granted, after written application, to bona fide alien individuals to acquire a flat or house or a piece of land for the erection of a house not exceeding two donums. Permission is usually granted for personal use and not for letting or commercial use.
Commercial use is dealt with on an entirely different basis and a different set of criteria apply.
Once permission is granted and the property registered in the name of the alien, there is no restriction on the alien selling the property or disposing of it by Will. Furthermore, no permission will be required for the legal heir to have the property transferred into his name. Under the Cyprus Law such Law contracts must be in writing. It is also advisable that contracts of sale be deposited in the relevant District Lands Office within two months after the signing of the contract so that the purchaser s right to pursue the remedy of specific performance in the event of breach can be protected. Leases exceeding 15 years can be registered and registration should be effected within 3 months of the signing of the lease.