Are you considering buying a property in Cyprus?

Then, you must know these new changes in regard to VAT regulations on properties purchased in Cyprus.

▪️5% VAT rate still applicable to new residences in Cyprus intended for use as primary residence. However, specific criteria laid down by applicable laws must be met for a residence to qualify for this favorable rate.

▪️The reduced VAT applies to the first 130 meters, but the total square meters of the property cannot exceed 190 square meters and surpass the value of €475,000.

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