Transfer fee by the Department of Land and Surveys
The following table shows the fees payable in the case of a transfer of property:
| Value of Property (C£) |
Transfer Fee (%) |
Accumulated Tax |
| Up to 50.000 |
3 |
1.500 |
| 50.000 - 100.000 |
5 |
2.500 |
| Over 100.000 |
8 |
|
Family transfers
If an immovable property is transferred to a family company, the transfer fees are refundable in five years if:
- The immovable property remains in the company.
- No change was made in the company's shareholders.
If an immovable property is transferred from a family company to the shareholders or their relatives up to a third degree relation the following fees are payable:
- 8% on the value of the property if the transfer is made to the wife of a shareholder.
- 4% on the value of the property if the transfer is made to the child of a shareholder.
- 8% on the value of the property if the transfer is made to a relative of a shareholder.
Note
In the case of reorganisations of companies involving the transfer of immovable property the transfers concerned are not subject to fees.
