Inheritance tax and inheritance law in Cyprus

Taxation Researcher | September 20, 2021

Estate duty has been abolished since 2000.

Transfer Fee

Transfer fees are imposed on the transfer of real estate in Cyprus. The transfer tax is levied at progressive rates. The transfer tax is based on the purchase price or market value of the property, as determined by the Land Registry department. If the property is in joint names, the property value is halved, leading to lower transfer fees.

TRANSFER TAX

PROPERTY VALUE, € TAX RATE
Up to €85,000 3%
€85,000 - €170,000 5%
Over €170,000 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