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House purchase
Posted: Tue 04 Aug 2020 3:39 pm
by scubac
Just a general enquiry for a friend.
Can an expat own two houses now?
Re: House purchase
Posted: Tue 04 Aug 2020 4:15 pm
by come_on_aylin
Confirmed by a solicitor here last week, currently 1 villa and up to 3 apartments for foreigners. You can now have a property per person, used to be one per family.
I've heard loads of rumours that the situation is going to change but nothing official yet.
Re: House purchase
Posted: Tue 04 Aug 2020 4:21 pm
by MnM
As long as only one persons name is on the Kocan yes? For example had i only put my name on our Kocan, Mandy could have got a second property, ie a Villa with her name on the Kocan. However, as i understand, with both our names on the Kocan, if we bought a second property, the Kocan would have to be in the name of a "Holding Company" or similar - yeah right, not doing that!!!
Re: House purchase
Posted: Tue 04 Aug 2020 8:10 pm
by come_on_aylin
MnM wrote: ↑Tue 04 Aug 2020 4:21 pm
As long as only one persons name is on the Kocan yes? For example had i only put my name on our Kocan, Mandy could have got a second property, ie a Villa with her name on the Kocan. However, as i understand, with both our names on the Kocan, if we bought a second property, the Kocan would have to be in the name of a "Holding Company" or similar - yeah right, not doing that!!!
Yes, that's what I meant. One name per kocan but it used to be that a non Cypriot husband and wife (and children) could only have one property between them.