Kotinos Property Consultants

Transfer Fees

The purchaser will be liable to pay the following transfer fees for the property acquired, when this is registered in his/her name at the Land Registry Office. The fees are charged on the property's market value at the date of purchase.

Property Value in €	%
Up to 85,000	3
85,001 - 170,000	5
Over 170,000	8

(The rates above apply per person)

In more details

For property purchased for €200,000 in one name, the fees payable are €9,200.

For property in the name of one person

Up to €85,000	@ 3%	= €2,550
from €85,001 to €170,000	@ 5%	= €4,250
The remaining €30,000	@ 8%	= €2,400
Total fees payable		= €9,200

For property purchased for €200,000 in the names of two persons, the fees payable are €6,600.

For property in the names of two persons

First €85,000	@ 3%	= €2,550 (Husband's share)
Second €85,000	@ 3%	= €2,550 (Wife's share)
The remainder of First €15,000	@ 5%	= €750 (Husband's share)
The remainder of Second €15,000	@ 5%	= €750 (Husband's share)
Total Fees payable		= €6,600

Important Note:

Exemption from transfer fees if the transfer relates to a transaction that is subject to VAT. VAT is charged at the standard rate of 19% where a reduced rate of VAT (5%) has been introduced for properties purchased by permanent residents of Cyprus, provided that the property will be used as the main residence of the purchaser for a minimum of 10 years.
In case a transaction is not subject to VAT, the legislation provides for an exemption of 50% of the transfer fees. This applies to transactions where transfer fees apply or are due and the transfer relates to plots of land, buildings or interests in land or indivisible interests that are sold for the ?rst time from the date of issue of the relevant building permit and the relevant contract is prepared and submitted for the first time to the local District Land Registry during the period of application of the law.

In more details

Important Note:

PERMANENT RESIDENCY

INVESTMENT PROGRAM - POSTPONED

THE BUYING PROCESS

Stamp Duty - TAXATION