It is important to say that selling property in Cyprus is safe. The selling process is very straight forward but inevitably, ‘things are a bit different in Cyprus’ and best left to the experts. The transfer procedure takes you through various departments that to the uninitiated may seem difficult, inefficient and confusing.
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Cyprus is building fabulous bridges to smooth the property transfers and the issuance of the Title Deeds. Raft of 'innovations' in the Cyprus property market is just starting and the shackles around the Title Deeds issue are falling away.
How is capital gains tax determined in Cyprus.
The CGT rate is set at 20% of the chargeable gain realized from the sale of a property as adjusted for inflation, certain lifetime exemptions and other allowable expenses.
This is another huge leap into the 21st Century for Cyprus.
The Performance of Buildings (Energy Certification of Buildings) Regulations come into force in January 2010 and specifies that all properties listed for sale must have a current energy performance certificate, the EPC.
When selling your property in Cyprus the final step is the actual transfer of the Title Deeds from the seller to the buyer. Transfer of immovable property means the passing of the title of immovable property from one person (the transferor) to another (the transferee) by the voluntary act of such persons.