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Practise as a Real Estate Agent


Description

In order to practise as a real estate agent in the Republic of Cyprus, one needs to register at the Register of Real Estates Agents and obtain a licence from the Council of Real Estate Agents.

The term “Real Estate Agent” refers to a natural or legal person whose occupation is to act as an intermediary for a land transaction for a fee. In parallel, Real Estate transaction refers to every transaction for the conclusion of an agreement for the sale, purchase, exchange or leasing of immovable property for a period exceeding one month, including assigning the property with valuable consideration or through the transfer of company shares.

Hide details for Eligibility CriteriaEligibility Criteria

The licence to practise as a Real Estate Agent can be granted both to natural persons and to legal entities.

Every natural person is eligible to register to the Register of Real Estate Agents, provided that the Council of Real Estate Agents is satisfied that he/she:
(a) is a citizen of the Republic or of any other EU member state (or a spouse or a child of a citizen of the Republic of Cyprus that has his/hers habitual residence in the territory of the Republic of Cyprus);
(b) is not subject to bankruptcy or any other legal disability under the legislation or any judicial decision;
(c) has not been convicted of any offence involving dishonesty or moral indecency and in the case he/she has been convicted, has then been reinstated on the basis of the provisions of the pertinent legislation ("ο περί Αποκαταστάσεως Καταδικασθέντων Νόμος του 1981 (Ν.70/1981)");
(d) has obtained after a minimum three-year course, a recognised diploma, degree or title from a university or professional body in a subject related to the profession of a real estate agent and thereafter, has gained experience, in the Republic, by professionally practising as a real estate agent for at least twelve months under the status of a deputy real estate agent or holds a masters degree or title of at least one year studies in subjects related to real estate agents profession;
(e) has sufficient knowledge related to the real estate and town planning legislation of the Republic of Cyprus, necessary for the correct and responsible exercise of the profession of a real estate agent.

For the purposes of determining the last criterion, as described in subparagraph (e), the Council of Real Estate Agents has the responsibility to put the applicants through a written examination. The examination material can be found on the website of the Council of Real Estate Agents.



Show details for Application ProcedureApplication Procedure

Hide details for Obligations and SupervisionObligations and Supervision

Registered and licensed real estate agents are obliged to comply with the provisions of the Real Estate Agents Law of 2010, as periodically amended, and specifically among others, with the following:

  • mention the phrase “registered and licensed real estate agent”, followed by the registration number and the annual license number, in every document or advertisement used in the course of the profession;
  • maintain an office with suitable furnishing and equipment and to have exhibited in a conspicuous place the certificate of registration and the license, and reveal at the façade of the office the name, the words “registered and licensed real estate agent”, the registration number, and the business name if applicable;
  • notify the prospective buyer of the property of all the information relating to the physical condition of the property, the charges thereon, including any other restrictions on the property under any legislative, judicial, administrative or other governmental act or decision.

The Council may delegate to its officers or a committee the duty of ensuring that the registered and licensed real estate agents comply or apply the provisions of the relevant Law and Regulations.


Hide details for Other AssociationsOther Associations

Cyprus Real Estate Agents Association
P.O.Box 21455, 1509 Nicosia
Tel. : +357 22 889759
Fax. : +357 22 667593
Email: yianna@ccci.org.cy
Website: https://www.facebook.com/SKEKCyprus/


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Related Links

Council of Real Estate Agents
Real Estate Agents Registry
Cyprus Police –Criminal Record Certificate
Business Setup Procedures
 Online Applications for registration and licence renewal in the real estate agents register

Related Documents

Download the Acrobat fileTranslation - Application for issue of annual licence of natural person and real estate agent identity card.pdf
Download the Acrobat fileTranslation - Application for registration of a natural person in the real estate agents register.pdf
Download the Acrobat fileApplication for the Registration of a Natural Person in the Real Estate Agents Register (GR).pdf
Download the Acrobat fileApplication for the Issuance of Annual Licence to Natural Persons and Real Estate Agent ID (GR).pdf
Download the Acrobat fileReal Estate Agents Law 71(I) 2010 - 2017(1).pdf



Last Update on: 15/05/2020 01:41:34 PM


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