Legal & Financial - Transfer Fees

Transfer fees by the Department of Land and Surveys

The fees charged by the Department of Land and Surveys for transfers of immovable property are as follows:

Rates applying from 19 March 1999
Value CYP£	Rate %	Fee CYP £	Accumulated Fees CYP £
Up to 50.000	3	1,500	1,500
50.001 - 100.000	5	2,500	4,000
Over 100.000	8

 

 

In the case of property transferred to a family company, transfer fees are refundable after five years if the property remains with the company and the shareholders remain the same.

In the case of property transferred from a company whose shareholders are spouses and/or their children, to one of the two spouses, or their children or to a relative up to third degree of relation the transfer fees are calculated on the value of the property as follows:

• if the transfer is to a child 4%
• if the transfer is to a spouse 8%
• if the transfer is to a relative 8%
  

Also the following rates are applicable in the case of free transfers:

• between spouses 8%
• between third degree relatives 8%
• from parents to children 4%
• to trustees £5
  

Value in these cases is the one written on the title deed which refers to values of the year 1907.

In the case of companies’ reorganizations, transfers of immovable property are not subject to transfer fees by the Department of Land and Surveys.