Updated
GL-C-07
Glossary · Cyprus PR
Contract deposit in Cyprus - registering your purchase
Filing the sale contract with the DLS so it appears in the register
01 / In 30 seconds
The short answer
- What it is
- Filing the sale contract with the DLS so it appears in the register
- Deadline
- The law allows 6 months from signing; we file within 1-2 weeks
- Cost
- €50 per contract
- Why it matters for PR
- Without a deposited contract you cannot apply for PR
02 / In plain words
What Contract deposit in Cyprus means
A contract deposit (form N.270) is the filing of the sale contract with the DLS office of the district where the property is. After that the contract shows in the search certificate, and any later buyer or bank can see it.
The deposit gives the buyer priority: under the specific performance law a deposited contract protects against new mortgages and sales and lets the buyer demand transfer of the property. The law allows 6 months from signing, but we file within 1-2 weeks - before the deposit there is no such protection.
For Cyprus PR the deposit is mandatory: the application needs a contract in the name of the applicant or spouse filed with the DLS. You can apply once €300,000 is paid and the contract is deposited.
A simple example
A client signs on Monday. On Friday the lawyer files the contract at the Limassol office on form N.270 and pays €50. With the deposit stamp and receipts for €300,000 the client applies for PR.
Why deposit the contract
- Priority over new mortgages
- Protection from a second sale
- Applying for PR
- The right to demand transfer
- Direct title issue if the developer delays
03 / What it covers
How the deposit works
What is filed
- Sale contract
- Form N.270
- Receipt for €50
What is needed
- Buyer's tax number
- Power of attorney for the lawyer
- Signed contract
What it gives
- Buyer priority
- Protection from new mortgages
- Entry in the certificate
Where
- District office
- Where the property is
- Through a lawyer
04 / How it works
How a contract is deposited
Signing
A certificate no older than 5 working days is attached.
Preparation
Tax number, power of attorney, form N.270.
Filing
The lawyer files the contract at the district office, €50.
Stamp
The contract receives a deposit stamp.
PR application
With the stamp and €300,000 paid.
05 / Key facts
What matters
01Fee
€50
Per contract. Paid by the buyer on filing.
02Deadline
6 months by law
We file within 1-2 weeks. A signed contract not deposited after 14 days is a red flag in our process.
03What it gives
Priority
Protects against new mortgages and sales under Law 81(I)/2011 and gives the right to demand transfer.
04For PR
Mandatory
The Migration Department accepts an application only with a contract filed with the DLS.
Common mistakes
Waiting until the deadline
We file within 1-2 weeks. Before the deposit the seller could mortgage or resell the property.
Arriving without a tax number
Without a Cyprus tax number the contract cannot be deposited. We get it in advance.
Waiting for the title instead of depositing
PR needs a deposited contract; the title may take years.
06 / Expert advice
How to prepare in advance
Get a Cyprus tax number and give your lawyer a power of attorney before signing. Then the lawyer can file the contract with the DLS within days of signing.
What we do for you. We deposit the contract within 1-2 weeks of signing and make sure the stamp is in place before your PR application.
Igor VentsHead of real estate, Title Deed and property checks
07 / Questions
Frequently asked questions
Filing the sale contract with the DLS so it appears in the register.
€50 per contract.
6 months from signing. We file within 1-2 weeks.
Priority over new mortgages and sales and the right to demand transfer.
No. You need a contract filed with the DLS.
No, the lawyer files under a power of attorney.
Cyprus PR glossary
- Cyprus PR programme →
- Cyprus PR
- ARC (Cyprus alien registration)
- Form MIP2
- Cyprus residence card
- Cyprus PR criteria
- Cyprus Migration Department
- Secure annual income
- Dependent students 18-25
- Cyprus PR monitoring
- Title deed in Cyprus
- DLS search certificate
- Encumbrance in Cyprus
- Separate title deed in Cyprus
- Developer mortgage in Cyprus
- Reservation agreement in Cyprus
- Direct title issue to the buyer
- Cyprus transfer fees
- Foreign buyer permit (Cap. 109)
- Planning permit
- Building permit
- Certificate of final approval
- Division permit
- First sale from a developer
- Resale property in Cyprus
- 18-month new building rule
- Commercial property for Cyprus PR
- Short-term rental licence
- VAT on Cyprus property
- Reduced 5% VAT on housing
- Cyprus tax identification code
- Cyprus stamp duty
- Cyprus capital gains tax
- Special defence contribution
- Cyprus non-dom status
- GESY health contribution
- Cyprus tax residency
- Cyprus income tax
- €300,000 investment for Cyprus PR
- Investment in a Cyprus company
- Investment in a Cyprus fund
- Cyprus PR government fees
- Source of funds for Cyprus PR
- Cyprus bank account
- Family members in Cyprus PR
- Apostille for Cyprus
- Certifying officer in Cyprus
- Citizen Service Centre (KEP)
- Sworn translator in Cyprus
- Police clearance for Cyprus
- Plan A health insurance
- Power of attorney for Cyprus
- Income affidavit
- Non-employment declaration
- Medical tests for Cyprus PR
- Cyprus citizenship by residence
- All terms →
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