Providing legal and procedural advice in real estate related matters and transactions, both in Cyprus and internationally is one of our key practices. Cyprus has established itself as one of the premier real estate investment destinations in the Mediterranean and the EU due to the multiple business and lifestyle advantages on offer. Real estate transactions have been consistently and considerably rising for the past years as a result of considerable economic growth, new government incentives as well as increased activity in tourism, trade and manufacturing.

Headquartered in Limassol, the real estate hub of Cyprus, Patrikios Pavlou & Associates LLC is well positioned to advise its clients and has extensive and in-depth knowledge in advising and assisting both individual and corporate clients in real estate transactions whether those are made for investment purposes, relocation to Cyprus, commercial activities, establishing a corporate base or a new home. The firm’s real estate clients range from real estate funds to overseas investors across all sectors including commercial property, residential, hotels, retail and industrial. Building on our strong litigation experience, the firm can also advise on disputes and litigation in relation to residential and commercial properties.

 

Our real estate advisory services include:

Legal advice and general assistance for any kind of real estate transactions, including acquisitions, swaps and leases of immovable property. Provision of assistance on all land registry and local authority procedures, as well as local tax clearance procedures concerning properties situated in Cyprus. Preparation of the necessary agreements and other documentation and forms. Advising on direct and indirect acquisitions, disposal of assets, all types of leases and rental agreements involving both residential and commercial properties.

Implementation of property holding structures, advising on corporate restructurings and re-organisations involving major real estate assets, advising on international real estate holdings by Cyprus or other international entities as well as asset protection through the establishment of trusts.

Provision of legal advice and assistance to major construction and development companies operating on the real estate field in Cyprus. Preparation and reviewing on all major real estate contracts including consultancy, sale, tenancy, service and management agreements.

Advising on tax implications arising from real estate transactions and holding of real estate in Cyprus as well as matters relating to the payment of capital gains tax and VAT (Value Added Tax) on property both under acquisition and under lease.

Advising entities and individuals purporting to invest in real estate and immovable property situated in Cyprus on all tax implications, required documentation, benefits and all legal matters.

As a licenced Cyprus Investment Programme Provider (registry registration No. 325) under the Committee of Supervision and Control for the Cyprus Investment Programme, we are authorised to advise and assist international investors on all aspects of the Cyprus Investment Programme that may include investments in real estate located in Cyprus.

Our firm, through its network of associates, aims to provide a holistic one-stop shop for international corporations and entities wishing to relocate or establish a reliable business base in Cyprus, ranging from advice on initial real estate acquisitions or leases as well as general advice on workspace matters both private and shared flexible workspaces. Our professionals can offer comprehensive advice, including advice on tax matters for the establishment of real and fully-fledged offices Cyprus and the creation of substance.

General advice and assistance on debt-to-asset restructuring and other debt to asset swap arising from financing restructurings from major banking institutions and other organisations.

Legal advice on major financing transactions that require provision of security on Cyprus real estate, legal protection of Cyprus real estate assets, general legal advice on mortgages and all aspects of real estate security in Cyprus as well as legal assistance with formalities and perfection requirements.

As one of the leading litigation law firms in Cyprus, our team provides practical, commercially minded advice on all types of property litigation and real estate disputes. Our team is capable of advising on the best forum to resolve the dispute quickly and proportionally whether that be through litigation, arbitration or alternative dispute resolution.

Sample of Major Cases Handled

  • Advising one of the major banking institutions in Cyprus in relation to all loan restructurings performed by them pursuant to an amendment of the Cyprus tax legislation, effective as from 31 December 2015, according to which certain loan restructurings are temporarily exempt from tax, where such restructurings include the transfer of immovable property to the creditor/financial institution in exchange for the repayment of debt. We acted as the legal advisor to the bank to a debt of more than EUR 9 million.
  • Advising a number of high-net-worth individuals from Russia, Asia and other non-EU countries on the purchase of premium commercial and residential properties which qualify for the Cyprus Citizenship by Investment Programme.
  • We are currently advising one of the leading property developers in the Eastern Mediterranean on the development, planning and licencing stage on their latest two landmark projects, which will include two of the tallest buildings in the Mediterranean region; these are considered to be among the largest private real estate investments.
  • Advising certain private individuals from Australia on the complete procedure regarding the reconditioning of listed buildings in the Limassol old town to turn them into a niche residential development. This is an important project as it deals with listed properties that are bound by specific legislation for their heritage protection and require expert legal advice in order to maximise investment opportunities.
  • Extensively advised a major European investment bank on securing their rights on certain immovable assets, which were mortgaged to the bank as part of a USD 35 million financing to a leading international online forex broker based in Cyprus. An important project due to the cross-border complexity of securing certain properties situated in Cyprus and the technical difficulties in obtaining licencing from the Cyprus Land Registry to be a mortgagee.
  • We regularly advise on all property-related matters, both local and international individuals and corporate clients seeking to invest in commercial, residential and/or plots of land throughout Cyprus. Our firm has practical hands-on expertise in handling real estate transactions and land registry formalities and procedures. Our clients range from those requiring simple conveyancing to complex financing deals that will involve at least one local or international financial institution.
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Senior & Managing Partner
Partner - Head of Corporate Finance
Partner - Corporate Finance, Tax, Private Client
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