11/03/2026
1. How many properties can a foreigner buy in Cyprus?
If you are not an EU citizen, according to Cypriot law you can purchase one residential property — an apartment, a house, or a plot of land for residential construction.
EU citizens can purchase an unlimited number of properties in Cyprus.
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2. What taxes and fees apply when buying property in Cyprus?
The first one is VAT (Value Added Tax).
If you buy a new property from a developer, the standard VAT rate is 19%.
However, if you purchase the property for your primary residence, you may qualify for a reduced VAT rate of 5%.
The second payment is Transfer Fees.
This is a government fee paid when the Title Deed is transferred into your name.
If VAT has already been paid on the property, Transfer Fees do not apply.
For resale properties, Transfer Fees are charged, but currently there is a 50% reduction. The effective rates for resale properties are:
• 1.5% — up to €85,000
• 2.5% — from €85,001 to €170,000
• 4% — above €170,000
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3. What additional costs should you expect?
Besides the property price, it is recommended to budget approximately 10% in additional costs.
These usually include legal fees, government and registration fees, bank transfer costs, and document preparation.
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4. Is there an annual property tax in Cyprus?
The good news is that the national annual property tax in Cyprus has been abolished.
Property owners only pay small municipal fees, such as garbage collection, sewerage, and other local services.
These typically range from a few dozen to a few hundred euros per year.
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5. Do you need to file a tax declaration if you own property in Cyprus?
You only need to submit a tax declaration if you receive income from the property, for example if you rent it out or sell it with a profit.
If you simply own the property and do not receive any income, in most cases you are not required to file a tax declaration.
