Capital Gains Tax from sale of shares in property companies

The disposal of immovable property situated in Cyprus as well as the disposal of shares of a company that directly / indirectly (through layers of companies) owns immovable property situated in Cyprus are subject to Capital Gains Tax (CGT). An exemption applies where the value of the immovable property situated in Cyprus represents less than 50% of the value of the whole assets of the company.

Capital Gains Tax exemption

No Capital Gains Tax will be imposed on a future sale of immovable property situated in Cyprus if such property is purchased until the 31st December 2016. This exemption will be applicable regardless of the date any possible future sale takes place.