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The acquisition of real estate in Cyprus is in demand among foreign citizens who are absolutely not afraid of the high cost of housing. Prices, on the contrary, attract potential buyers who want to buy an apartment, apartment or house in a country where there is no crime, a favorable climate, beautiful nature, quality of life and excellent business development opportunities. But foreigners who buy studios, apartments, villas, apartments in residential complexes must, before concluding a transaction, study the specifics of the tax payment system.
Types of taxes
When buying property in Cyprus, foreign citizens are subject to local tax laws, according to which the following types of fees must be paid:
A one-time payment when the registration of property rights takes place.
Special stamp duty (payable once).
Property tax that the owner of a particular type of housing will have to pay every year. Continue reading