What are the Taxes / Vat which I will be eligible to pay for when taking possession of title deeds?
A. A Valuation will be made by the land registry and based on that valuation, VAT will be payable at a rate of 5%. This valuation does not normally exceed the sales value of the property. You will also need to pay land registry duty which is payable by any one purchasing in the TRNC, and this will be 6% of the valuation. (Please note that these rates may possibly change in the future, and you should always check at time of signing a contract.
