What are the taxes and expenses to be paid during the purchase of immovable property from Cyprus?
In purchases of brand new homes ;
Stamp Fee: It is the tax paid to the tax office at the rate of 0.5% during the contract / contract phase for the stamp / contract to be officialized.
VAT: The tax paid by the customer for the Tax Office at the rate of 5% over the Contract / Contract Price. Paid before home delivery takes place.
Transformer Contribution + Infrastructure and Connections: Since the state does not carry out electricity, telephone, water and other infrastructure connections, these costs are divided equally to the customers. It is reported to customers as an average of between £ 1500 – £ 2500. Paid before home delivery.
Title deed transfer fee: If the customer pays the entire debt of the house and the title deeds of the house are ready after the house purchase permit is obtained by the lawyer / office / individual, 3% of the value is paid during the deed transfer, according to the result of the price evaluation of the house to be built by the TRNC Land Registry Office.
In second hand home purchases;
Only the title deed expenses (3% tax / title deed transfer fee according to the value of the house) or if the Notary will be made at the Notary, 5 / 0.5% stamp fee is paid in 1000 over the number on the contract
In land-land purchases;
Only the deed expenses (3% tax / title deed transfer fee based on the deed evaluation of the land or land) or if the Notary will also be made, 5 / 0.5% stamp fee is paid over the number on the contract and the Notary fee.
