Taxes and Legal Expenses
Transfer fee, stamp duty, VAT, and annual property tax: we have gathered all the tax and fee items you will encounter when buying or selling real estate in Northern Cyprus in one place.
Frequently Asked Questions
How much is the title deed transfer fee in Northern Cyprus?+
Lower rates generally apply for the first property purchase, while higher rates apply for subsequent purchases; please confirm the current rate with your lawyer.
Is there VAT on new properties?+
Yes, VAT is generally applicable to new off-plan or newly built properties.
When is stamp duty paid?+
It must be paid within a specified period after the sales agreement is signed.
Is annual property tax mandatory?+
Yes, property owners are required to declare and pay annual property tax.
Do tax rates change every year?+
They can be updated periodically, so it is important to verify current rates prior to purchasing.