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Property transfer fees

 
The fees charged by the Department of Land and Surveys to the acquirer for transfers of immovable property are based on the market value of the property as follows:
Market value  Rate Fee Cumulative fee
%
Up to 85.000 3 2.550   2.550
85.001 to 170.000 5 4.250   6.800
170.001 and above 8    

For sale-purchase contracts conducted and submitted to the Land and Surveys Department between 2 December 2011 and 31 December 2016, no transfer fees will be payable when the immovable property to be transferred is subject to VAT. In the case, that the immovable property transferred is not subject to VAT, then it will be eligible for a 50% exemption from the above transfer fees.
*
In the case of property transferred to a family company, transfer fees are refundable after five years if the property remains with the company and the shareholders remain the same.
Mortgage registration fees are 1% of the current market value.
Notes
*Subject to conditions
 For further details on these issues, please do not hesitate to contact us.
 

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16, Annis Komninis, P.O.Box 21480,    1060, Nicosia, Cyprus info@aggeorghiou.com.cy
Tel:+357-22769100  
Fax:+357-22769101

 

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