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How to Sell your Cyprus property

Ataleza Estates Ltd will help you sell or rent your property at any time you wish to do so.  Linked locally and internationally with other estate agents, listing on our website, newspaper advertising and property magazine ads are tools that will help us promote your property.

SELLING YOUR PROPERTY IN CYPRUS

In the event you would like to sell your Cyprus property sometime in the future, Cyprus Law permits the full amount paid for it in foreign exchange to be remitted abroad at the time of sale. This amount includes also any amount spent on improvements and/or additions to the property as well the as any proceeds from any increase in the value of the property. Profits can be repatriated to a rate up to 10,000 Cy Pounds per year, beginning the year after the sale.

CYPRUS CAPITAL GAINS TAX

Capital Gains Tax is levied at the rate of 20% on gains arising from the sale of immovable property.

Addition and renovation costs are deductible from the gains as are the inflation rate, interest paid on payments made for the acquisition of the property and appreciation of the value of the property. These deductions are granted once only, unless they have been exhausted by the first sale in which case any balance would be carried forward.