Hadjimatheou Brother Developers - Property Developers in Cyprus
You are here: THE LEGAL SYSTEM
The legal system in Cyprus is mainly based on the British legal system. Purchasing property in Cyprus is very secure, with regard to title deeds.

STAMP DUTY

Stamp duty is due at the time of signing the sale agreement. Stamp duty comes at the rate of €2.56 per €1,708.60 up to €170.860 and thereafter at the rate of €3.42 per €1,708.60. The sale Agreement must be stamped within 30 days from the day it was signed otherwise a fine will be imposed.

TAXES & FEES

Upon transfer of the of the property and registration in the Purchasers same the District Land Registry Office will charge Transfer Fees, which are charged as follows: Value up to €85,430.07 / 3%, €170.860 / 5%, over €170.860 / 8%.

VAT The current prevailing rate is 15%.

PERMISION TO BUY PROPERTY

Permission to buy property must be issued from the Council of Ministers by written aplication, which must be submitted buy the non-Cypriot buyer after the Sale Agreement is signed and stamped within 30 days and should be deposited at he Land Registry Office withing 60 days of signing.


 

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