Open a Company in the Construction Sector in Cyprus
Open a Company in the Construction Sector in CyprusUpdated on Monday 30th March 2020
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In May, the President of Cyprus declared that after the previous crushing crisis of the recent years, the construction and land-development industry displays a strong increase. This was mainly due to certain incentives offered in this country by the government.
Our lawyers in Cyprus can offer more information on what these incentives consist of, as well as assistance related to starting a business in Cyprus in the construction sector.
Increase in the number of building permits in Cyprus
According to the information made public by the Statistical Service of Cyprus, a 36.2% increase was registered in the building permits which were issued between January and May of 2017.
The total value of these permits rose by more than 28% and the entire area by 36.5%. Also, the dwelling unit numbers registered an increase of more than 40%.
The building permit number which was authorized by the municipal authorities and the district administrative bodies during May of this year was 507, compared with 410 of March and 440 in May of 2016.
The entire value of these permits is more than EUR 108 million. Most of these permits were issued in Nicosia, followed by Limassol, Larnaca and two other cities in Cyprus. Our Cypriot lawyers can provide assistance in receiving such building permits in the country.
How to apply for a building permit in Nicosia, Cyprus
In order to build a development in Nicosia, Cyprus, a building permit from the Municipality of Nicosia is required. This type of permit takes 100 days to obtain and it costs EUR 3,983. Our lawyers in Cyprus can offer more information on this type of permit.
The application for such a permit should contain:
• Architectural plans signed by the property owner and the responsible architect or civil engineer;
• Topographical plans signed the responsible architect or civil engineer;
• Deed title or bank certificate connected to mortgaged property;
• Town planning permit as supplied by the Town Planning Department;
• Certificate of incorporation of the company;
• Certificate of registered office address, for legal entities;
• Other documents: our attorneys in Cyprus can offer further details on what these other documents consist of.