What are the rates of transfer fees in Cyprus, who pays and how they are calculated?
Transfer Fees Calculator
Transfer fees are payable by the purchaser for registering the acquired property on his/her name. Property transfer fees are calculated on the basis of the property’s market value on the date of purchase. This requires that the sale of the contract has been deposited at the Department of Lands and Surveys. If the contract of sale has not been deposited at the Department of Lands and Surveys your property’s transfer fees will be calculated on the assessed value of the property on the date the transfer takes place.
Transfer Fees
Property Value in € | % |
|---|---|
Up to 85,000 | 3 |
85,001 - 170,000 | 5 |
Over 170,001 | 8 |
Note: The Cyprus Parliament announced the abolishment or reduction of the property transfer fees on the following cases:
1. Total exemption from transfer fees, if the transfer relates to a transaction that is subject to VAT (e.g new build) (e.g. either standard or reduced rate of VAT).
2. In case a transaction is not subject to VAT (e.g resale property), the legislation provides an exemption of 50% on the amount of transfer fees. This exemption is taken into account by the calculator.
3. In case a property is registered as a sole property in a Company & the transaction involves the purchase of that company/property, then the buyer receives a total exemption from transfer fees.
The information in this section is intended as a guide only and every reasonable effort was made to ensure the accuracy and the timeliness of the information. In no circumstances shall Zyprus be legally bound by any information contained in this section, and shall accept no liability whatsoever in respect of loss caused by reliance on such information.