Cyprus Property Transfer Fees

Cyprus Property Transfer Fees


Cyprus Property Transfer Fees

The District Land Registry Office will charge transfer fees when the transfer of the property and registration in the purchaser’s name happens. These fees are based on the market value of the property at the time of purchase and are calculated as follows:

Value Rate
Up to €85.000 3%
€85.001 – €170.000 5%
Over €170.000 8%

 

Example

Purchase price of property, in one name: €300.000

1st €85.000 at 3% = €2.550
Next €85.000 at 5% = €4.250
Remaining €130.000 at 8% = €10.400
€17.200
Less 50% €8.600
Total fees payable €8.600
  • 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 first 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.