The land registry in Cyprus is one of the most secure and accurate in the world. Investors and/or buyers can rely on the information and the results of the searches. The transfer of ownership is concluded by a simple procedure at the District Land Registry. 

Transfer Fees 

Transfer of ownership from Vendor to Purchaser is undertaken by a simple procedure through the Cyprus Land Registry Office, either by the buyer in person or by appointing a third party with a Power of Attorney.
Transfer fees are necessary in order to transfer FREEHOLD ownership to the name of the purchaser. The transfer fees will be paid when the transfer of the title deed in the name of the purchaser will take place.

When purchaser acquire their Title Deed the transfer fees become payable. This is the most major expenses after the purchase price. It should be noted that the lodging of the contract with Land Registry secures and restricts the amount payable for transfer fees based on a value as at the date of the contract.

This avoids potentially very heavy transfer fees based on a value of the property determine much later than when the property was purchased.

The Purchaser is responsible for the tax payment. The rates are on a graduated scale.

 If the property is in joint names e.g. of a couple (husband and wife) or two individuals, then the purchase value is divided into two parts which results in reduced transfer fees.

The following example for property purchased for CYP 100.000 in the names of two persons, clearly illustrates this

Stamp Duty Fees 

The buyer is also liable for stamp duty.The following example for property purchased for CYP 150.000 clearly illustrates this.

Immovable Property Tax 

immovable property tax based on the value of the property at a rate of 0.2% between CYP100,000 and CYP200,000;0.3% up to CYP300,000. The first CYP100,000 is exempt.