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Do You Pay Transfer Fees if You’ve Already Paid VAT on a Property in Cyprus?

When buying property in Cyprus, many purchasers assume that paying VAT on the purchase price means they won’t face any Land Registry transfer fees. This is only partly true.

How It Works

While no transfer fees apply on the portion of the purchase price that was subject to VAT, this exemption is limited. Transfer fees may still be payable on the difference between the VAT-inclusive purchase price and the market value of the property, as determined by the Land Registry on the date the separate title deed is transferred into your name.

In other words: if the Land Registry assesses the property at a higher value than the agreed purchase price, transfer fees will be calculated on that difference.

Purchaser’s Right to Object

If you believe the Land Registry’s valuation is excessive, you have the right to file an objection and request a review.

Why Legal Guidance Matters

These details can significantly affect the overall cost of your property purchase. Clear advice ensures there are no surprises when completing the transaction.

At Andreas Demetriades & Co LLC, we assist clients with all aspects of property transactions in Cyprus, including VAT, transfer fees, and Land Registry procedures.

Get in touch with our lawyers using the form below!