Transfer fees in Cyprus

These are paid on transfers of immovable property and are calculated on the market value of the property as estimated by the Land Registry department.

Transfer fees paid on the transfer of property to a family company are refunded in five years provided the company still owns the property and there have not been any changes to its shareholders.

On the transfer of immovable property from a family company to its shareholders as well as on transfers by donation between spouses, spouses and children or relatives up to third degree of kindred, transfer fees are calculated on the value of the property as at 1 January 1980 at the following rates:

Transfer to spouse 0,4% Transfer to children 0,2% Transfer to relative 0,4%

Transfers of immovable property by a company to another company for the purpose of a company re-organisation are exempt from transfer fees.

For the calculation of transfer fees, please visit the relevant link at the Department of Land and Surveys  http://www.moi.gov.cy/moi/dls/dls.nsf/dmltransfer_en?openform

Transfer fees for the period 2/12/2011 - 31/12/2016

For the above period the following apply:

1. 1  Exemption from transfer fees if the transfer relates to a transaction that is subject to VAT

2. 2  In case a transaction is not subject to VAT, the legislation provides for an exemption of 50% of the transfer fees. This applies to transactions where transfer fees apply or are due and the transfer relates to plots of land, buildings or interests in land or indivisible interests that are sold for the first time from the date of issue of the relevant building permit and the relevant contract is prepared and submitted for the first time to the local District Land Registry during the period of application of the law