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Loan Agreements & Mortgage Instruments

Our law firm provides advice on a wide range of banking and securities transactions. Our clients include commercial banks as well as substantial corporate borrowers and issuers. Our banking and finance practice gathers highly trained and diligent advisors providing national and international clients with well-versed legal advice on a wide range of banking and securities related transactions. We have in-depth knowledge and experience in finance transactions, acquisition and leveraged finance, asset finance and leasing, corporate lending and loan markets, capital markets, project finance, real estate finance, restructuring and insolvency, securitisation and other areas of structured finance. READ MORE

Property Transfer Fees & Stamp Duties, in Cyprus

Transfer of the ownership right from the developer to the buyer is accompanied by property registration tax paid by the buyer to the state, a so-called Transfer Fee. Transfer Fee is calculated based on the contract value of the real estate using the following scheme: Transfer Fee calculation: Real Estate PriceCommission Feeunder EUR 85.4303%from EUR 85.431 to EUR 170.8605%over EUR 170.8618% Transfer fee is calculated in in the same way as in transactions on the secondary property market, i. READ MORE

Amendments to VAT Law

According to the Value Added Tax Laws of 2000-2015 buyers of residential property could obtain a reduction to VAT and pay a reduced rate of 5%. This was subject to certain conditions and only applied for the first 200 sqm covered area when the total covered area was not more than 275 sqm. The Value Added Tax (Amendment) Law of 2016 took effect on the 18th of November 2016 and amended the Value Added Tax Laws of 2000-2015. READ MORE