HomeNews MenuLatest News & UpdatesIs your lawyer working for you?

Is your lawyer working for you?

People buying property in Cyprus often make the fundamental mistake of not taking independent legal advice.

Many choose to use the ‘free’ legal services offered by the developer. Others use a lawyer who’s been introduced or recommended to them by the developer or the real estate agent acting on the developer’s behalf (unaware that estate agent is in partnership with the developer and has financial interests in the development being sold).

There is an extremely high probability that any lawyer recommended by a property developer or one of their agents, may be the developers own lawyer. Obviously, such a lawyer cannot provide independent legal advice because he cannot have the interests of buyers at heart.

My number one piece of advice to anyone buying property in Cyprus is to ensure they take independent legal advice; steer well clear of using the developer’s lawyer or their ‘free’ legal services.

The British High Commission in Nicosia has recently revised its list of lawyers who are able to offer advice in English and has kindly allowed me to publish it.

You will find the High Commission’s list in my Download area of my website (along with other useful information provided by the High Commission).

RELATED ARTICLES

Essential Due Diligence

While buying property in Cyprus holds many opportunities, it also comes with risks. Carrying out due diligence before signing a sale agreement is essential to safeguard your investment, avoid legal complications, and ensure peace of mind.

Top Stories

Property Transfer Fees

Transfer fees are charged by the Department of Lands and Surveys (DLS) when the full legal ownership of a property is transferred to the purchaser. (In some cases this process can take many years, causing angst & frustration for buyers.)

EUR - Euro Member Countries
GBP
1.1676
RUB
0.0103
CNY
0.1292
CHF
1.0580

Capital Gains Tax

Capital Gains Tax (CGT) is generally 20% on the taxable gain from selling immovable property - and it can also apply to certain disposals of shares in companies holding real estate on the island, subject to applicable exemptions and deductions.

Elsewhere in Cyprus Property News