Immovable Property Tax

For more detailed information about Immovable Property Tax, please either scroll down on this page (quicker) or use the main menu on the left.

Tax Charge

Tax is imposed on the immovable property’s owner (individuals and/or legal persons) in Cyprus, at the 1 January of every year. The tax is calculated based on the market value of the immovable property as of 1 January 1980 and it is payable by the 30 September of the year.

Rates

Value of Property ₤Rate %Tax ₤Accumulated Tax ₤
1-100.0000 0 0
100.001-250.0002,5375375
250.001-500.0003,58751.250
Over 500.0004   

Land Registry Fees (Transfer Fees)

Value per Plot ₤ Rate % Fees ₤ Accumulated Fees ₤
0-50.000 3 1.500 1.500
50.000-100.000 5 2.500 4.000
Over 100.000 8    

Inheritance Tax

Inheritance tax has been abolished on 1 January 2000. The executor of the estate should submit the deceased’s statement of assets and liabilities to the tax authorities, within six month from the date of death.