Category: Real Estate News

This New Business Facilitation Unit is solely dedicated to assist foreign companies and will provide:

• Assistance to relocate to the island, operate and expand existing business activities in Cyprus.
• Provide guidance with the establishment and licensing of businesses,
• Process and issue residence and employment permits.

Another exciting development is the inclusion of skilled third country nationals and support staff.

• Employee work permits that fall under this revised policy will be issued in 30 days and can last up to 3 years!
• This new strategy even includes family reunification rights for those that qualify.

Fast Track Business Registration Scheme

A Digital Nomad Visa

New Tax Incentives

Positive Proposals regarding naturalization

New Provisions for third country nationals

Homeowners wishing to sell or rent their home usually have a list of tasks they need to complete in order to finalize the transaction.
Some tasks are related to finance, like ensuring you gain a lucrative return on your investment and others have to do with home upgrades. Perhaps a lick of paint, or a carpet steam clean before you invite renters and buyers into your home. There is, however, one other legal consideration, besides the contract of sale or lease that every homeowner in Cyprus must consider before they attempt to sell or rent their home.

Every homeowner in Cyprus needs a Property Energy Performing Certificate.
A Property Energy Performance Certificate (EPC) is a certificate that classifies buildings according to the energy that their home consumes. While you may think this is something you don’t really care about as a homeowner in Cyprus, it’s important to note that Property Energy Performance Certificates became compulsory on 1st January 2010. It affects all long-term rental properties and properties for sale that were constructed before 10th January 2007.

If you do not have a Property Energy Performance Certificate (EPC), you can be penalized up to € 30,000.
The only exemptions are tenants that entered into a rental agreement before 1st January 2010 and are still in the same property, or properties with a covered area of less than 50m2.

Its important to note that an EPC must be issued by a certified and qualified expert who lives in Cyprus. The Cost of a Property Energy Performance Certificate in Cyprus is estimated at around €2.50/m2 – however, the price can vary depending on the technician, which is why we recommend you contact Chestertons to ensure you obtain an approved and professional engineer.

While many may feel this is an added hindrance and annoying additional paperwork – we need to consider how fundamental energy is for our lives and for the proper functioning of our homes.

Chestertons takes energy consumption seriously.
We are increasingly committed to finding measures that allow the reduction of greenhouse gases. In the European Union alone, the energy consumption of buildings represents over 40% of the total energy consumption.

Its not just about complying with the law; it is about building awareness to conserve our beautiful planet and live in a better world.
Making just a few changes, like using low energy light bulbs (LED) or hanging thicker curtains, can make a vast difference to your home’s energy rating.

Check out all Chestertons’ recommendations and find out everything you need to know by clicking on our EPC guidelines and contact us, so we can guide you through the process.