Real estate transfer fees are imposed by the Land Registry in order to transfer
‘freehold’ ownership to the name of the purchaser.
The transfer fees is due for payment when the transfer of the title deed in the
name of the purchaser takes place. The Purchaser is solely responsible for the payment
of the transfer fees.
The transfer fees rates are as follows:
- Value of property up to €85.430 then 3% transfer fee applies
- €85.431 to
€170.860 value then 5% transfer fee applies
- €170.861 and over the 8% transfer
The purchase value will be divided into two parts which results in reduced transfer
fees where the property is held in joint names e.g. husband and wife or two individuals.
Property Tax International specialise in the preparation and filing of Cypriot income
tax returns for non-resident property owners.
Worldwide Income Tax residents are more often than not required to be taxed on their
worldwide income including rental income from an overseas property investment. Cyprus
has a double tax treaty with substantial number of countries around the world.
Most double tax treaties provide relief for taxes paid in one country against tax
due on the same income in the taxpayer’s tax resident country.
Tax International strongly recommends you consult with the tax authority
in your home country regarding Double Tax Treaty’s and identify what income is covered
under such agreements.
While Property Tax International Limited makes every effort to ensure that the information
contained herein is accurate, we take no responsibility or liability for any inaccurate,
delayed or incomplete information, nor for any actions taken in reliance thereon.
The information provided above is intended as a guide only.