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SELECTION OF PROPERTY TO BUY OR RENT IN CYPRUS
Among the advantages of owning property in Cyprus is the ability to quickly obtain a residence permit on this beautiful island. For a minimum investment of 300,000 euros, you and your family will not only get a nice second home, but also a residence permit that will allow you to legally live, work and study in Cyprus.
Therefore, in this case, owning real estate now is an investment in your own future and the future of your family
Rent housing in Cyprus
Renting a house in Cyprus is a popular service, because many people choose Cyprus for tourist purposes, to live there, or to do business, without sufficient funds to buy – so they choose the more economical option of renting.
It is quite difficult to choose the best option without knowing the specifics of the local real estate market, without knowing the prices or the options offered for rent, so in this case there is a need to turn to professionals – namely YK Prykhodko and partners, who will help you find the most suitable option for You.
We provide the following services:
- We select options for residential premises both with and without furniture in different areas and cities according to the client’s order
- Full legal support
- Direct communication with the owner of the building and the opportunity to meet him personally
Regarding the cost of housing rent, it will differ depending on:
- Cities
- Dimensions of the living space
- Living condition
- Availability of household appliances and furnishing
- Location relative to the center of the settlement.
The term of housing selection can be up to 3 days, depending on your needs.
Cyprus is diverse – that’s why you can find real estate there on the coast, in the mountains, in the central area. Therefore, you need to select real estate based on the goal. For example, the central area of the big cities of Limassol, Larnaca, and Paphos will be the best place to live. For vacation or rental, the most profitable option is the coast. In general, the most popular are Paphos, Larnaca, Limassol, Ayia Napa and Nicosia.
Renting commercial real estate in Cyprus
In the process of creating your own business in Cyprus, there is a need to purchase or rent commercial real estate. The latter option is considered more profitable, as it implies lower costs, minimal risk of investment loss and the possibility of faster expansion when creating a network. The company, which provides its services for business owners, offers the rental of industrial premises in Cyprus, shops, offices and other types of commercial premises.
By using quality service, you get the following advantages:
- the opportunity to devote maximum time to business development and working out a business plan instead of looking for real estate;
- individual selection of the object for specific tasks;
- legal execution of all documents;
- fastest selection of real estate.
It is important to note that the rent of an office in Cyprus or any other premises is processed by agents. This allows you to start your own business in Europe even without the need to know the language. The cost of services is only 50 percent of the monthly rent of a store in Cyprus or any other commercial facility.
Buying a home in Cyprus
Pros:
- You can earn by renting out your property
- You can customize the property however you want
- Owning real estate provides a sense of stability because no one can take it away from you
Cons:
- This is a significant financial commitment
- If you later decide to sell your property, it can be a lengthy process that can take months or years
- You will have to deal with additional maintenance costs and taxes, as well as depreciation of the property over time
- On the one hand, the lease involves short-term or long-term residence for the number of months/years agreed in the lease agreement. Buying real estate, on the other hand, means that the place is yours forever (or until you sell it).
Purchase of commercial real estate
Purchase of commercial real estate in Cyprus is a question that interests not only businessmen, but also investors who want to earn a large stable passive income. Making a suitable purchase and selecting a suitable object is a difficult and time-consuming process that requires knowledge, time and effort.
The following types of commercial facilities are offered:
- warehouse buildings;
- offices;
- business centers;
- trading platforms;
- shops;
- complex buildings.
Before purchase, all these objects are checked for the presence of foreclosures, mortgages from the owner and a number of other undesirable factors. Thanks to this, buying commercial real estate is always a safe investment.
What taxes must be paid?
When buying real estate in Cyprus, in addition to the cost of the object, you need to take into account the funds needed to pay certain taxes and fees:
- Coat of arms collection.
- Title tax (acquisition of ownership)
- Annual tax,
- In some cases, VAT
Can foreigners buy real estate in Cyprus?
In short, yes, foreigners canto buy real estate in Cyprus. Moreover, it is easier to do here than in many European countries. EU citizens can buy real estate in Cyprus without restrictions.
Can non-EU citizens buy property in Cyprus?
Although it may take some time, the process of buying property in Cyprus is quite simple compared to other EU countries. A non-European foreigner is allowed to buy property in Cyprus without restrictions, as long as the buyer has no criminal record and meets the requirements.
We provide the following services
- Renting residential real estate in Cyprus
- Lease of commercial real estate in Cyprus
- Buying residential real estate in Cyprus
- Purchase of commercial real estate
- Land permit in Cyprus
Calculate the cost of services
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The corporate tax rate in Cyprus was raised to 15%. Doesn't this create problems for Ukrainian business?
On the contrary, it is a strategic advantage. The Tax Code of Ukraine provides for exemption from CFC taxation if the effective rate in the foreign jurisdiction is at least 13%. The 15% rate in Cyprus automatically allows legally exempting the profit of a Cyprus company from additional taxation in Ukraine.
How does the updated IP Box regime for IT companies work?
The Cyprus IP Box applies the Modified Nexus Approach, where the benefit depends on actual development costs. If a company develops software locally, 80% of qualifying profit is exempt from taxes. The 15% corporate tax applies only to the remaining 20% of profit, giving an effective tax rate of 3%.
Is it necessary to pay tax on undistributed profit and the annual company levy?
No. The Deemed Dividend Distribution (DDD) rule was completely abolished for profits generated from January 1, 2026. The annual fixed Annual Levy of €350 was also abolished starting in 2024.
Can I get Cyprus tax residency as a business founder?
Yes, the “60-day rule” applies to business founders. It allows you to obtain tax resident status by staying in Cyprus for only 60 days a year if you own or rent housing, have business ties to the country, and are not a tax resident of another state.
What is Notional Interest Deduction (NID) and who is it suitable for?
NID is a powerful incentive for capital-intensive businesses (e.g., industrial or investment holdings). It allows deducting notional interest on the amount of new equity capital introduced from the taxable base. The deduction amount equals the yield of 10-year government bonds of the country of investment plus 5%. This tool can reduce taxable profit by up to 80%.
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