There are a variety of taxes and fees payable when owning property in Cyprus which buyers should be aware of:Stamp dutyA taxation which allows your contract to be stamped so that it can be deposited in the Cyprus Land Registration Office (Title Deeds Office). Once this occurs you will either receive a Specific Performance Number (if the property has no Title Deeds yet) or Title Deeds will be issued directly on your name if the property has Title Deeds. The rate is as follows: 2.5 euros for every 1000 euros if the value of the property does not exceed 170 860 euros... [read more]

On finding your ideal property and the payment terms are agreed on, the property may be reserved. This procedure takes the property of the market, fixes the price and allows for the sales procedure, mortgage application etc. to begin.The reservation deposit is usually from 4 000 euros upwards depending on the purchase price. Credit cards are most often used for the reservation but a bank transfer, cash or local cheque are also acceptable. This may be effected via your solicitor or by the developer if the property is new or off plan. Should you not have your own so... [read more]