Legal & Financial - Transfer of Ownership

Transfer of ownership from Vendor to Purchaser is undertaken through a procedure via the Cyprus Land Registry Office, either by the buyer in person or by appointing a third party with a Power of Attorney. Transfer of ownership requires a permit from the Council of Ministers.

Real Estate Transfer

Real Estate Transfer tax-fees are payable in the land registry upon transferring ownership of the property. The buyer is responsible for the tax payment. If the property is in joint names, then the purchase value is divided into two parts which results in reduced transfer fees.