Do non-residents pay Cyprus CGT when selling?

Yes — the tax attaches to the property's location, not the seller's residence. Non-residents selling Cyprus property are within scope, with the same allowances available.

Is profit on assigning an off-plan contract taxed?

Plan on yes — gains from disposing of rights over Cyprus immovable property fall within the CGT net. Get the computation modelled before listing an assignment.

How does the main-residence allowance work?

Up to €85,430 of gain is exempt where the property served as your main residence for at least five years, subject to conditions including area limits. It is a lifetime allowance — usable once.

What records should I keep from purchase?

Sale agreement, all payment receipts, legal and professional invoices, transfer and stamping evidence, and every renovation invoice. Indexed cost plus documented expenses is what shrinks the taxable gain.

Capital Gains Tax on Cyprus Property: What You Keep When You Sell

Cyprus taxes gains on local immovable property at 20% — but with lifetime allowances, indexed acquisition costs and deductible expenses, the effective rate on a well-documented sale is routinely far lower. The difference between headline and effective is paperwork you keep from day one.

20%

CGT rate on Cyprus property gains

€17,086

lifetime personal allowance

€85,430

main-residence allowance (5+ yrs)

01Scope: what the 20% touches

CGT applies to gains from disposing of immovable property situated in Cyprus — and, by anti-avoidance extension, shares in companies whose value derives from such property. It applies regardless of your residency: a non-resident selling a Limassol apartment is within scope. Assigning an off-plan contract at a profit sits in the same net, which is why exit planning belongs at purchase.

02Allowances that do real work

Individuals carry lifetime exemptions applied against gains: €17,086 general; €85,430 where the property was your main residence for at least five years (conditions apply); a farmer's agricultural-land band in between. These are per person — jointly owned property lets each co-owner apply their own allowance. Used deliberately, the main-residence band alone shelters a substantial slice of a typical apartment gain.

03Computing the gain: keep everything

The taxable gain is sale price minus indexed acquisition cost (inflation adjustment from purchase date) minus documented capital expenditure and transaction costs — professional fees, transfer costs, proven improvements.

Every invoice you keep from purchase and renovation is a future tax deduction; every one you lose is 20% donated.

Assemble the file at purchase, not at sale.

04Interaction with the rest of your position

No inheritance tax exists in Cyprus and transfers by death fall outside CGT — relevant to estate planning covered in our wills guide. Corporate ownership changes the analysis (share sales, SDC, non-dom status) rather than removing it. Cross-border sellers should also confirm home-country treatment and treaty relief. tax.com.cy computes exposure both ways before you commit to a structure.