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Promachonas Estate Agency Ltd, a Registered & Licensed Estate Agent with Registration No. 658 and License No. 17/E.

 Cyprus property transfer fees 2015

The Department of Land and Surveys charges transfer fees to the purchaser of the immovable property.

*** In an attempt to regenerate the Cyprus real estate market, sales contracts completed between the 2nd of December 2011 and 31st of December 2017, which are subject to VAT will be exempt from property transfer fees. Properties that are not subject to VAT will be entitled for a 50% reduction from the below listed transfer fees (terms & conditions apply) ***

 

The fees are calculated as follows:

 

 

Current Market Value (€)

Rate (%)

Fee (€)

Accumulated fee (€)

First 85.000

3% - (Now 1.5%)

 

2,550 - (Now 1,275)

 

2,550 - (Now 1,275)

 

From 85.001 to 170.000

5% - (Now 2.5%)

 

4,250 - (Now 2,125)

 

6,800 - (Now 3,400)

 

Over 170.000

8% - (Now 4%)

 

 

 

 

 

 

 


 

If a property is transferred to a company run by a family, the transfer fees will be eligible for a refund after five years if the immovable property remains with that company and if the shareholders stay the same.

 

If a property is transferred from a company where the shareholders are spouses or their children, or a relative up to third level of relation, the transfer fees are calculated on the value of the property as follows:

 

• If the transfer of the property is to a spouse, the fees are calculated at 8%

• If the transfer of the property is to a child, the fees are calculated at 4%

• If the transfer of the property is to a relative, the fees are calculated at 8%

 

The following rates are also applicable in the case of gift/free transfers based on the value of the property as of 1 January 1980:

 

• From a parent to his/her children – 0,2%

• Between spouses – 0,4%

• Between third degree relatives – 0,4%

• To trustees - €5

 

Mortgage registration fees are 1% of the current market value.

 

If a company is being reorganized the transfer of the immovable property/ies are not subject to transfer fees or mortgage registration fees.

 

Calculate your property transfer fees online by visiting the Cyprus Department of Lands and Surveys - Transfer Fees Calculator