Your Cyprus Properties Guide!

Legal issues & Costs regarding Cyprus property

BUYING PROPERTY IN CYPRUS - The logistics of property purchase by foreigners are relatively simple & easy. Transfer of ownership is accomplished by a simple procedure through the Land Registry Office, either by the buyer or by appointed third party with a Power of Attorney.

TAXES & FEES - Upon transfer of the property to purchaser’s name Transfer Fees are due, which are based on the market value of the property at the time of purchase (Up to £50.000 - 3%, £50.001-100,000 – 5%, over £100.001 – 8%). The annual ownership tax is approximately £60-120 (depending on value) per year, and the Capital Gains Tax is 20% on profit (first £10,000 exempt). 

LEGAL SAFEGUARDS FOR FOREIGN INVESTORS - Contrary to the risks inherent in the purchase of property in some countries, Cyprus has never been involved in the nationalization of any sector of the economy, nor in the expropriation of property owned by foreigners.

TAX PRIVILEGES - Personal effects, household goods, furniture & cars can be imported duty free by immigrant retirees.

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