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Provision of Real Estate Services by Legal Persons


Description

In order for legal persons to provide real estate services in the Republic of Cyprus, they need to register at the Register of Real Estates Agents and obtain a licence from the Council of the 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 legal person is eligible to register to the Register of Real Estate Agents, if the Council of Real Estate Agents is satisfied that it:

  • has been incorporated in the Republic of Cyprus or any other EU member state;
  • maintains its registered office or place of business in the Republic of Cyprus;
  • is not subject to proceedings for its liquidation or dissolution; and
  • all of the company's directors and shareholders are registered and licensed real estate agents in the Republic of Cyprus (see Practise as a Real Estate Agent).


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

Cyrpus 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
Practice as a Real Estate Agent
Business Setup Procedures
Application for issuance of Certificates of Companies by the Registrar of Companies
 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 legal entity for the year.pdf
Download the Acrobat fileTranslation - Application for registration of a legal entity in the real estate agents register.pdf
Download the Acrobat fileApplication for the Registration of a Legal Entity in the Real Estate Agents Register (GR).pdf
Download the Acrobat fileApplication for the Issuance of Annual Licence to Legal Entity (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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