Any additional expense to the price of property can make a considerable difference as to its affordability. Buyers must therefore take special care to confirm whether the property they are considering purchasing is subject to Value Added Tax (VAT) and if so, whether the purchase price quoted includes the VAT. What type of Immovable Property…
Property Transfer fees are imposed by the Department of Land and Surveys in order to transfer ownership of preoperty to the name of the purchaser. The transfer fees are due for payment when the transfer of the title deed in the name of the purchaser takes place. The Purchaser is solely responsible for the payment…
As of the 01.05.2009 the restrictions placed on the acquisition of property by EU citizens have been lifted. Since Cyprus’ accession to the European Union on 1st May 2004, property laws have been revised to conform to the provisions of the acquis communitaire. However, in order to protect the property market, Cyprus negotiated a 5 year…