Ordinarily, capital gains tax is set at 20%, however, there are some exemptions.
For example, if it is your first property in Cyprus and you have lived in the residence for over 5 years the first €85,430 is tax free.
For a single person the first €17.0086 is tax free and for a couple who jointly own the property the first €34,172 is tax free, otherwise any gain on the property is charged at 20%.
The Cyprus resale procedure is quite complex and an independent lawyer should always be appointed so you are fully protected and fully aware of all property and taxation laws.
Our resale department are one of the best in Cyprus. We will help and guide you through all resale procedures from start to finish and make sure that not only is your resale safe and secure but that all runs as smoothly as possible.