The amount ranges from 60% - 80% of the value of the property with a repayment period ranging from 7 - 15 years. Easy terms of payments and long-term in-house finance schemes are also available.

Title Deeds
Transfer of ownership from Vendor to Purchaser is undertaken by a simple procedure through the Cyprus Land Registry Office, either by the buyer in person or by appointing a third party with Power of Attorney.
The transfer of ownership requires two permits, which are:
1. from the Council of Ministers and
2. from the Central Bank of Cyprus.
Both permits can be easily obtained from the Cypriot authorities.

Property Taxes, Fees and Rates. Real Estate Transfer Tax Fees
Real Estate transfer tax fees are necessary in order to transfer FREEHOLD ownership to the name of the purchaser. This can be done as soon as the relevant Government Authority has issued the Title Deed and the purchase has been completed. The Transferee is responsible for the tax payment. The rates are on a graduated scale.

(Should the purchase be made in joint names, provided the price is more than CYP 50,000, the effective value for calculation is halved).

Immovable Property Tax
The annual immovable property ownership tax is calculated on the value of the property as at 1st January 1980. Payable on a yearly basis. Certain immovable properties are exempt.

The calculation is £2.50 CYP (etc.) per thousand over £100,000 CYP.

Examples:
Property value at £150,000 CYP, less £100,000 exempt = £50,000 CYP at £2.50 CYP per thousand = 50 x £2.50 CYP = £125 CYP payable per annum.
Property value at £300,000 CYP less £100,000 exempt = £200,000 CYP at £3.50 CYP per thousand = 200 x £3.50 = £700 CYP payable per annum.

Capital Gains Tax
On disposal of the property, capital gains tax will be payable at the rate of 20% on the gain with the first CYP 10,000 being exempt for each person. There is also an indexation allow acne. On top of this allowance, regarding the transfer fees paid inflation per year and the cost of any additions made to the house. Gains from the disposal of a dwelling house are exempt up to CYP 50,000 in total if the owner resides in it for at least 5 years prior to disposal.

Stamp Duty
The purchaser is liable for the payment of the stamp duty at the rate 1.50 pounds per thousand up to the value 100,000 CY pounds and thereafter at the rate of 2.00 pounds per thousand. This should be paid within 30 days of signing the contract and the developer will, at the request of the purchaser, pay this and debit his account.

Real Estate Duty
Estate Duty tax has been abolished as from the 1st January 2000.

Local Authority Taxes and Rates
A rough guide is approximately CYP 50 - 150 per year depending on the size of the property. This tax is for refuse collection, street lighting, sewerage, etc. The basic utilities, electricity, water and telephone are payable individually and in accordance with the consumption based on a meter reading.

Duty Free Priveleges
There is no import duty on cars and for retired couples there is an additional concession of 2 duty free cars. Personal effects, household goods and furniture can be imported free of any taxes by immigrant retirees provided they are for personal use and not brand new, indicating prior usage.

Selling Your Property
In the event that the purchaser should wish to sell a property at some time in the future, the funds/profits from the sale can be repatriated easily to the value of the purchase price including any amounts spent on improvements and/or additions of the property. Profits can also be repatriated plus the interest earned.