What is stamp duty?
Stamp duty is a government tax payable on legal documents, including property purchase contracts. In Cyprus, this tax applies during the contract registration phase and is mandatory for the transaction to be legally valid.
How is stamp duty calculated in 2025?
For property purchases, stamp duty is calculated on the purchase price as follows:
- 0.15% on the first €170,000
- 0.20% on any amount above €170,000
For example, if you buy a property for €250,000, the stamp duty would be calculated as 0.15% of €170,000 (€255) plus 0.20% of €80,000 (€160), totaling €415.
When do you pay stamp duty?
The payment is made to the Cyprus Tax Department during the contract registration process, typically handled by your lawyer. Ensure this is done promptly to avoid delays in completing your purchase.