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Cyprus – Property Financing

Mortgages for Foreign Nationals in Cyprus

Local banks and other lenders do issue mortgages to foreign nationals in Cyprus. However, the process can be more challenging as foreign nationals may not have a credit history in Cyprus and may not have the same documentation requirements as Cypriot citizens or permanent residents.

Local Lenders

Some local lenders that provide mortgages to foreign nationals in Cyprus include:

  • Bank of Cyprus: This bank offers mortgages to foreign nationals, but typically requires a higher down payment and may have stricter documentation requirements.
  • Hellenic Bank: This bank also offers mortgages to foreign nationals, but may have similar requirements as Bank of Cyprus.
  • Cyprus Popular Bank: This bank offers mortgages to foreign nationals, but may have similar requirements as Bank of Cyprus and Hellenic Bank.

Deposit Requirements

The amount of deposit required when buying a property in Cyprus can vary depending on the lender, but typically ranges from 20-30% of the purchase price. Some lenders may require a higher deposit for foreign nationals.


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Outstanding Debts on the Property

New property owners in Cyprus are responsible for outstanding debts on the property, such as unpaid property taxes or utility bills. However, it is important to conduct a proper due diligence before purchasing a property to ensure there are no outstanding debts or liens on the property that could become the responsibility of the new owner.

It is important to note that laws and regulations for foreign nationals buying property in Cyprus can vary. It is advisable to consult with a lawyer or real estate agent familiar with the laws and regulations before making a purchase.


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