Compared to most European countries, the process of buying property in Cyprus is very simple. Non-Cypriot buyers are entitled to freehold ownership of a villa, apartment, or a piece of land to a maximum size of 4014m². Offshore entities may also acquire a building for their business, or for employee residence.
Once you have selected a property, a reservation fee is paid to hold the property while your appointed solicitor draws up the relevant paperwork and applies for your residency permit (if you intend to live on the island). 
While this is going on, the contract between the seller and the buyer will be drawn up, and the terms will be agreed on prior to signing. The contract should be signed as soon as possible, and once signed, a deposit should be paid, the size of which will be agreed between the buyer and seller. Once the final payment has been made to the seller, the house becomes yours.
As a non-Cypriot, you will also have to make an application to the Council of Ministers. The Council is the body responsible for granting approval for a non-Cypriot to transfer a property´s title deeds into their name. The process can take between 10 and 15 months, though during this time there are no restrictions on you signing the contract and moving into your home, as you are legal owner of the property according to contract law. The Council of Ministers procedure will be undertaken by your solicitor, and will require several pieces of information about you:
- A bank reference
- A character reference to show any criminal records you may have
- Purchase contract showing that the land size is within allowed limits, and that only one property is owned in Cyprus
- Documentation proving that the buyer has the required funds to live in Cyprus
- Copies of your passport
Any other required documentation will be requested via your solicitor
In Cyprus you will be required to pay stamp duty. This is paid at a rate of CY£1.5 per thousand up to a value of CY£100,000, and CY£2 per thousand above that. Upon payment, the contract will be officially recognised as valid and authentic.