Cyprus Property by Agios - Life by the Sea

(a) PAYABLE BY THE PURCHASER
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:
Market Value as at 01/01/80 CYP	Rate CYP per 1000
Up to 100.000	Zero
100.001 - 250.000	2,5
250.001 - 500.000	3,5
500.001 and over	4.0
ESTATE DUTY This was abolished in 2000.