Transfer Fees Tax

On buying any immovable property in Cyprus every transaction attracts a transfer fees tax for the title deeds which is payable to the Government via the Land Registry Department.

The actual payment is calculated by the price of the property and the number of purchasers.  

€0.00 - €85,430 @ 3%                  

€85,431 - €170,860 @ 5%                  

€170,861 -  @ 8%    

              

Purchasers of immovable property will be requested to pay transfer fees within 60 days of a notice to transfer the property. If the purchaser pays within the 60 days, they will be entitled to an extra 10% reduction on the transfer fees.

 

Purchasers of immovable property in Cyprus that paid NO VAT a 50% reduction on transfer fees will be provided.

The purchaser also has a choice of paying the transfer fees in 12 monthly installments.

Purchasers of immovable property in Cyprus that have paid VAT on the purchase price of their property will not incur any transfer fees. 

The provisions regarding the 50% reduction in the payment of transfer fees apply as well to resale properties.

Example - One owner

A property purchased at €250,000.00 exc. VAT

€85430. x 3% = €2562.90

€85430. x 5% = €4271.50

€79140. x 8% = €6331.20

Total: €13165.60

Divided by 50% = €6582.80

Example - Two owners

A property purchased at €250,000.00 exc. VAT

(each €125,000)

€85430. x 3% = €2562.90

€39570.. x 5% = €1978.50

Total: €4541.40 x 2 (owners) = €9082.80

Divided by 50% = €4541.40

C SURE PAPHOS PROPERTIES is a Registered Trading Name of Renos Pitros & Son LTD, a Licensed and Registered Real Estate Agency with  CREAA Reg No. 797 & CREAA License No. 120/E

C SURE Paphos Properties

Gladstone Road 18D

8046, Paphos

Email: csurepaphos@gmail.com 

Mobile: 00 357 97651456 (English) or 00 357 99629736 (Greek)

      

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