This is a Permit issued by the Council of Ministers in Cyprus, as stipulated in article 3 of the Acquisition of Immovable Property (Aliens) Law Cap. 109. According to the Law, third country nationals (i.e. non E.U citizens) are imposed with certain restrictions while purchasing immovable property in Cyprus.
Conversely, there are absolutely no restrictions on real estate acquisitions by E.U. citizens, therefore, nationals of E.U. Member States (either personally, or through legal entities registered and tax residents in Cyprus) can register as many properties as they wish on their name.
Within the context of a real estate transaction, obtaining the relevant Permit is a straightforward procedure and we may handle it on your behalf.
Please refer to us for further guidance at https://www.gclawfirm.eu/contact-us/