What is required for the transfer of property and what are the payable fees?
The following documents are required to be submitted in order for property to be transferred to your name as a purchaser: • Written confirmation by the Central Bank that the purchase was with foreign funds, which was imported in to Cyprus. • The sale contract. • The Ministerial Councils permission for the purchased property. • The property’s title deeds, if available. • Confirmation that all taxes for the purchased property (sewerage, immovable property, town taxes etc) have been paid. Transfer fees are paid on the value that the Land Registry department determines that it is the Open Market Value of the property on the day of the original transaction/sales contract. Transfer rates are as follows: TRANSFER FEES Transfer fees are paid to the district Land Registry Office upon transfer of the property with the following scale VALUE OF Property (EUR) TRANFER FEES (%) Up to 85,430 3.0 From 85,431 – 170,860 5.0 From 170,861 and Over 8.0 A Power of Attorney can be issued to a third party to
