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Government Bilateral Agreements
Bilateral agreements between Cyprus Government and Iranian Government have been recently signed in order to open the horizons of new ...
Foreign companies can be active in Cyprus
New legislation has been recently enacted providing that a foreign registered company can move their registered offices and the place of ...
Legislations
Recommendation A
Based on the endeavors of the Cyprus Government to offer correct and high standards services to the investors, they have prepare and they ...
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Other Fees and Expenses
Stamp Duty
The buyer pays all Stamp Duty Fees at the rate of Euros 1.50 per thousand of the value up to Euros 100,000. Over this amount the Fees are Euros 2.00 per thousand. The documents should be stamped within 30 days after their signing in order to avoid the payment of a fine, which could be a substantial amount of money.
Transfering Fees
The transfer fees are calculated as follows: Property value (Euros) Transfer fees Accumulated Transfer Fee (Euros) 0-50,000 ...
Utility Bills
Electricity, water and telephone connections are costing approximate EUROS 100= each and the bills are payable monthly or quarterly. The bills are not high comparing to other countries but they are always depended on the consumption. For off plan properties, the said bills are payable after completion.
Legal Fees
The legal fees are of the approximate percentage of 2% to 2.5% of the purchase price all inclusive. This includes the legal fees of the approximate percentage of 1.25% plus the VAT 15% plus the real expenses of the amount of 0.75% which includes stamp duty on contracts and power of attorneys, postage and administration and 0.5% for a mortgage arrangement fee. The fees are ...
Wills
The drafting of a will including the VAT and the real expenses are of the amount of EUROS 260= per will.
Miscellaneous
Other expenses include the furniture packages, white goods packages, landscaping of the gardens for the buyers that purchase villas etc.
