According to the Stamp Duty Law (19/1963), stamp duties are paid in Cyprus, only if: (a) the contemplated asset is situated in the Republic of Cyprus; or (b) the contemplated matters / or things will take place in Cyprus, irrespective of the place where the relevant document was initially drafted.
The maximum amount payable as Stamp Duty is €20,000.
A document can be stamped: (a) within 30 days, if signed in Cyprus; or (b) within 30 days from its receipt in Cyprus, if signed abroad. Failure of stamping within these timeframes is possible, however, certain penalties apply.
For Contracts which do not have a fixed value, the stamp duty is calculated on the value of the contract and based on the terms of the contract per se.
Contact us for the estimation of your Stamp Duties and the settlement of such on your behalf, at https://www.gclawfirm.eu/contact-us/