Tax on immovable property in Cyprus will be abolished from January 2017.

In June of 2015 the Cyprus House of Representatives approved a 50% reduction in property transfer fees until the end of December 2016.

There is presently a suggestion by the government that the legislating body approve a permanent 50% reduction in transfer fees and there are good chances that it will pass.

No transfer fees are due when a property is donated from parents to children, between spouses or between siblings. However, there is a small processing fee of between ten and fifty Euros payable to the Lands Office at the time of transfer.