1. North Cyprus Law Firm - Advocates and Legal Advisers
2. North Cyprus Law Firm - Advocates and Legal Advisers
3. LEGAL UPDATES
4. TEMPORARY REDUCTION TO LAND REGISTRY TRANSFER FEES EXTENDED

TEMPORARY REDUCTION TO LAND REGISTRY TRANSFER FEES EXTENDED

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The Government has announced that the temporary reductions in respect of the Land Registry transfer fees have been extended until 31st December 2021.

During this time, the Land Registry transfer fees payable by purchasers on their first purchase of a residential property with a maximum internal area of 140m2 will be reduced from the normal rate of 3% to 1%.

On subsequent purchases, the Land Registry fees will be reduced from the usual rate of 6% to 3% for a property up to 300m2 in size and the Land Registry fees will be reduced from the usual rate of 6% to 4% for a property more than 300m2 in size.