Transfer
fees
Calculated on the open market value as at the date
of the transactions as follows:
Value
of Property
CYP
Rate
% on property value
Up
to 50.000
3,0
50.001
- 100.000
5,0
Over
100.000
8,0
If
the property is in joint names then the value is split
with each party paying their portion as calculated
above.
Stamp
Duty
Calculated as follows:
Value
of Property
CYP
Duty
CYP per 1000
Up
to 100.000
1,5
Over
100.000
2,0
An unstamped document is still valid, but when presented
to a court or any Government department the stamp duty
plus a fine will be payable. To avoid this documents
should be stamped within 30 days of their being signed.
Mortgage
Fees
1% of the amount secured plus the relevant stamps.
(b)
PAYABLE BY THE SELLER
Capital
Gains Tax
20% on the difference between the Selling Price and
Purchase Price and after appreciation and other allowances
have been deducted from this difference.
(c)
PAYABLE BY THE REGISTERED OWNER
Annual
Immovable Property Tax
Calculated as follows:
