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Buy Abroad News

08 Dec 11

Cyprus Government Waives Transfer Tax

The Cyprus government has for a limited period (6 months) until May2012 waived the cost of transfer tax to get the Title Deeds into the buyer’s name

For property with VAT (mainly new build) there will be no additional fee to transfer the legal ownership into the purchasers name provided that the sales contract is registered at the Land registry office in the amnesty period - saving up to 8 % of the value of the transaction

Doug Landers from GreenView Estates commented "obviously any help with the ailing property market is welcome, but it all honesty I cant see it making a huge difference to sales figures for 2012"

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