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:
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:
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.