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VAT ON PROPERTIES

When a physical person buys property for residency purposes: They will pay 19% VAT on the Property. They will pay 5% VAT if it is their first residency (rules apply). Usually, VAT on resales transaction is not applicable but transfer fees do apply. Cyprus VAT legislation stipulates a standard VAT rate of 19% on the acquisition of newly constructed re...

Rental income taxes

Corporate Taxation Cyprus companies are subject to a 12.5% tax on net profits. A 2.25% defence tax is applicable but is not required for short-term rentals. Taxation for Individuals (a) Income Tax Rates Annual Income (€) Tax Rate (%) 0 - 19,500 0% 19,501 - 28,000 20% ...

Are you looking for the perfect holiday destination for you and your family?

Look no further than Paphos, where you can find beautiful villas and apartments for rent. Whether you’re traveling alone, with a group of friends, or with your family, Paphos has something for everyone. Before you begin the search, here are our top tips to ensure that you’ve chosen the right rental option for you. It’s important to define your expectations. ...

Selling Your Home: Strategy and Tools to Make the Process Smoother - Professional Advice to Consider.

Selling your home can be a difficult process. It’s important to have the right strategy, tools and guidance can help to make the process a lot smoother. Here are some points to consider. 1. Negotiate It is essential to get the price of your home right. Research, comparing prices, and offering a relative property price are necessary steps to ensure that you achieve the b...

Maximizing Returns Through Professional Asset Management

Asset management is an important part of the successful operation of any business, and Blue Sky Houses is here to help you make the most out of your assets. Asset management provides your business with the ability to understand how you are using your resources, and how to best allocate them to achieve the most successful return. Blue Sky Houses has the expertise to help you pr...

Discover the Benefits of Working with a Reputable Real Estate Agency in Paphos, Cyprus.

Working with a trusted and experienced real estate agency is essential for successful buying, selling, investing, leasing, or property management services. From locating the ideal property to accurately assessing its value and communicating effectively with buyers and sellers, a creditable real estate agency will ensure that all your real estate needs are managed smoothly and e...

Is Now the Perfect Time to Invest in Cyprus's Rental Market for Generating Income?

With its stunning coastline, beautiful beaches and lush countryside, it's no surprise that the rental market in Paphos, Cyprus has been steadily growing in the last few years, making it one of the most desirable places to rent a property in the Mediterranean region. The Real Estate sector in Paphos saw remarkable performance during the fourth quarter of 2022. 5,883 transaction...

Unlock the Secret to a Successful Rental Property: Find a Great Landlord!

When looking for a long-term property to rent, it is important to consider all of the factors that can make your rental property a success. One of those and a most crucial factor of rental success, is having a great landlord. Not only does the landlord provide a home for you, but they also provide a sense of security and stability. A good landlord can make renting a home a pos...

Why use a property agent when buying in Cyprus?

Anyone who has ever purchased a home, knows of the many pitfalls that await a potential purchaser. These problems can easily multiply when you buy abroad, leading to increased costs and potential long-term issues with your property. All this can be avoided by using a highly reputable property agent for the entire process and, whilst it may cost a little more than completing th...

Top House-Hunting mistakes - What to look for when buying a house in Cyprus

Think of buying a property in Cyprus without the help of a property agent as trying to discover hidden secrets locked deep within a beautiful jewel. Explaining the analogy, the jewel is that ‘must have’ beautiful property that you’ve fallen in love with at first sight and which will be the envy of your friends and family, whilst the hidden secrets locked withi...

24, Gladstonos Street, Poullet Court Office 4-5, 8046 Paphos, Cyprus - Tel: +357 26 938900

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