Central Bank of Cyprus for Non-EU Residents
An application to the Central Bank of Cyprus is required for non-EU (European Union) residents; to verify your property purchase was paid for in foreign exchange money. Your lawyer in Cyprus will arrange this. The bank will provide you with a clearance certificate on submission of the following documents on form EC/NR/01:
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Contract of sale
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District officer's approval to property the property.
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Copy of the Council of Ministers approval to acquire the property
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Certificate from your Cyprus bank proving the importation of your funds to purchase your property via foreign exchange. Therefore, you must open a bank account in Cyprus before purchasing any property.
See Also: Cyprus Property Lawyer | Cyprus Estate Agents | Cyprus Transfer Fees | Cyprus Property VAT | Cyprus Stamp Duty | Council of Ministers Cyprus | Cyprus Property Tax | Capital Gains Tax Cyprus | Bank of Cyprus | Mortgages in Cyprus | Purchase Contract | Cyprus Land Registry | Chartered Surveyors | Making a Will | Property Title Deeds | Final Approval
