Wednesday, 30 April 2014

Foreign spouses can each buy a property

Foreign husbands and wives may now buy one property each in the TRNC, under a new law enacted by the government, Cyprus Today reveals.
The measure came into force following a decision by the Cabinet and is part of a raft of property-related moves aimed by ministers at 'facilitating' life in the country for expats - which could even include the scrapping of the current requirement for a home buyer to obtain Permission to Purchase (PTP).
Previously married couples were viewed as a single entity under the laws governing foreign property puchases, but the change now gives an individual right to each spouse to buy on a plot of up to one donum.