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In Limassol, Cyprus, the law relating to Will & Testament is primarily governed by the Wills and Succession Law, Cap. 195. This law is based on the principles of English law but has been modified and supplemented by local legislation. Anyone residing in Cyprus, regardless of nationality, is allowed to make a will. In Cyprus law, there is 'freedom of testamentary disposition', meaning individuals have the right to leave their property to anyone they wish. There is no forced inheritance rule, except for the legal spouse and minor children.
While writing a will may seem straightforward, various complexities and compliance requirements can often necessitate professional legal assistance. A lawyer specialized in Will & Testament can help you comprehend legal phrases, navigate potential tax issues, and ensure all of your assets are included. Especially if your will contains overseas property or it could potentially be contested, a lawyer’s advice is crucial. Moreover, lawyers can assist in cases of intestacy, where a person dies without leaving a valid will.
Basis of Cyprus succession laws, wills can be made by anyone who is at least 18 years of age and of sound mind. A person may dispose of all of their property by will apart from certain statutory portions that may be due to a surviving spouse and children. The law recognizes two types of wills: Official and Secret wills. The law also recognizes oral wills under very specific circumstances. One critical aspect of Cypriot law is that a will is not automatically revoked by marriage or divorce, unlike in many jurisdictions. Foreign nationals residing in Cyprus can specifically choose to have the laws of their home country apply to their will instead.
No, a will in Cyprus does not have to be notarized. However, it must be properly witnessed by two persons who are not beneficiaries under the will.
Yes, a will can be changed or revoked at any time before the person’s death as long as they are of sound mind.
Cyprus has no inheritance tax. It was abolished as of the 1st of January 2000.
If you die without a will, you are said to have died 'intestate'. In such cases, your assets will be distributed according to Cyprus Intestacy Rules.
Yes, as per the European Succession Regulation, foreign nationals can choose the law of their home country to govern their Will.
For further help, services, and information, you can approach the Cyprus Bar Association, the Cyprus Courts website, or the District Court where the deceased resided for assistance.
If you require legal assistance with your Will & Testament, the first step is to find a lawyer specializing in this field. They can help you understand the legal requirements and ensure your will is legally valid. Preparing a list of all your assets, as well as considering the beneficiaries, will greatly assist in this process.
