Taxes when Selling a property in Cyprus

Taxes when Selling a property in Cyprus

1. Capital Gains Tax (CGT)

Capital gains tax applies on the profit made on the sale of a property at the rate of 20%.

You can find our transfer fees calculator below:

https://cyprusproperties.com.cy/tools/capital-gains-tax-calculator

2. Tax on sale for the support of housing for Cypriot refugees

In November 2022, the Cypriot government announced the imposition of a 0.4% tax on the sale of Cyprus properties, payable for by the seller, to support housing of the Cypriot refugees who were dislocated after the Turkish invasion. The 0.4% tax extends to direct sales of property in Cyprus as well as the sale of shares in companies owning (whether directly or indirectly) property in Cyprus.

3. Expenses for the provision of necessary documents to the buyer

Typically, a seller of property will need to provide the buyer with the following:

• Land Registry Search (for Mortgages or other charges): range from €10 to €50,


• Copies of Architectural & Site Plans and previous contracts obtainable from Land Registry: €5 to €40,


• Lodging of a general power of attorney: €50,


• In addition, the law obliges sellers to present to the buyer an energy certificate of the property being sold. The cost of this ranges from €300 – €500.

4. Payment of debts, utilities and taxes

When selling a property any outstanding amounts for debts, utilities and taxes must be cleared. For example, a debt covered by a mortgage on the property amounts due to the developer of the property, any balance to the management committee for communal expenses, amounts due to the authorities for water, electricity, refuse collection etc.

4. Professional Services & Fees

The typical fees paid are those of an estate agent and a lawyer which both are agreed between the seller and the professional.