Inheritance tax and inheritance law in Cyprus

October 10, 2016

Estate duty has been abolished since 2000.

Transfer Fee

Transfer fees are imposed on the transfer of real estate between family members. The tax is levied on the value at the written deed at varying rates, depending on the relationship between the donor and the beneficiary.


DONATION TAX

RELATIONSHIP TAX RATE
Up to €85,000 4%
€85,000 - €170,000 8%
Over €170,000 8%

In case of property transferred from a family company, the transfer tax is levied on the value at the written deed at varying rates, depending on the relationship between the donor and the beneficiary.

TRANSFER TAX

RELATIONSHIP TAX RATE
Transfer to a spouse 8%
Transfer to a child 4%
Transfer to a relative up to third degree 8%

In case of free transfers of property, the transfer tax is levied on the value at the written deed at varying rates, depending on the relationship between the donor and the beneficiary.

TRANSFER TAX

RELATIONSHIP TAX RATE
Between parents to children 0%
Between spouses 0.10%
Between relatives up to third degree 0.10%
To trustees €50

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