Seminar's Overview
This seminar is about transactions related to real estate investments in Cyprus. In particular, in immovable property transactions, investors, buyers, sellers and other interested parties must be able to carry out relevant due diligence checks, decide on the terms under which they will transact, put safeguards in place and be contractually protected. Interested parties should also be able to assess the tax impact on their transactions and manage relevant taxation issues.
Seminar's Goals
By the end of the training, participants will be able to:
- Recognise the current provisions of the laws regarding the sale and rental of real estate
- Identify tax matters that relate to immovable property in Cyprus
- Interpret the main indicators regarding the progress of the sector
- Provide tax analysis on different scenarios relating to immovable property transactions
- Apply good practices during negotiations for buying, selling and renting real estate
- Set contractual safeguards in their transactions
- Identify and resolve direct and indirect tax matters that may arise during an immovable property transaction in Cyprus
- Participate in discussions on real estate in Cyprus with other professionals in the same sector
- Refute arguments regarding the Legislative Framework concerning real estate in Cyprus
- Evaluate risks that may be triggered while carrying out an immovable property transaction both at a legal and tax level.
Participants*
The seminar is addressed to investors and investment funds, real estate professionals, in-house legal advisors, as well as financial managers and other professionals working in the internal legal departments of organisations operating or investing in the real estate sector.
All participants must be employed during this period.
*The number of participants is restricted to 28.
Agenda
1. The real estate sector in Cyprus (1 h)
- The significance of the sector in the economy
- Key indicators of the sector and historical data
- Overview of the real estate sector by district
- Key trends and updates of the sector
2. Ownership of Real Estate in Cyprus (30 min)
Introduction
- Identification of properties
- Unique ID of a property
Property Title Deeds
- Structure of a title deed
- Search Certificates
Examples
- 'Clean' Title Deed
- Problematic title deeds
3. Buying and Selling of Immovable Property (1 h)
Contract Preparation Stage
- Important terms in contractual documents
- Pre-Contractual Arrangements
- Sales Contract
- Assignments
- Stamp Duty Application
- Acquisition of Immovable Property by aliens
- Legislation
- Procedure
Charges and Encumbrances
- Registration of Charges and Encumbrances
- Mortgages and Μemo
- Encumbrances and Rights
- Discharge of Charges
Transfer of Immovable Property
- Transfer of share of property
- Valuation of the Immovable Property by the Land Registry
- Clearance Certificates
- Land Registry returns
- Authorisations
4. Leasing of Immovable Property (1 h)
Agreement Preparation Stage
- Lease Agreement
- Sublease Agreement
- Long-Term Lease Agreement
- License to use
- Guarantees
Rent Control
- Statutory Tenancies - Criteria
- The Rent Control Law
- Jurisdiction
- Recovery of Possession
Rentals on the Free Market – outside of Rent Control
- The Contract Law
- Recovery of Possession
- Rent Increase
5. Direct Tax (1 h & 15 min)
- Rental income
- Capital Gains Tax or Income Tax
- Transfer fees
- Stamp Duty
- The Central Agency for the Equal Weight Sharing of Burdens (0,40% Levy)
- Capital Allowances
- Disposal of immovable property and Special Defence Contribution (Deemed Dividend Distribution)
6. VAT matters to consider in the real estate industry (2 h)
Introduction
- Taxable transactions
Important amendment in the VAT Legislation regarding the supply of buildings
- Application up to 10 November 2022
- Changes as of 10 November 2022
Rentals
- Analysis of the VAT legislation regarding the rental of immovable property
- Hiring of space Vs Rental
- Register for self-service establishments
Reduced VAT rate on the supply or construction of a new dwelling
- Analysis of legislation as of 15 June 2023
- Analysis of new legislation as of 16 June 2023 including the transitional measures
Services
Our services include:
- Handouts, including the hard copy presentation, examples, case studies, exercises, and additional notes if applicable.
- Stationery, such as pads, pens, and files.
- Drinks (coffee, tea, etc.), and finger food.
- A fully equipped training room with WiFi access.
- Certificate of completion.
Registration & Contact
If you wish to register for the seminar, please complete the registration form.
Once your registration is submitted, you will receive an email stating the participation fee, including any discounts, if applicable. Kindly note that the payment should be settled at least two days prior to the seminar’s date for your registration to be confirmed.
The programme has been approved by the HRDA. Enterprises participating with their employees who satisfy HRDA’s criteria, are entitled to subsidy. Please note that there are limited seats available, therefore enroll in this seminar as soon as possible.
If you do not receive our confirmation e-mail regarding your registration, your participation cannot be guaranteed.
Cost
€140 net investment after the HRDA subsidy: €140 for all eligible participants.
€280 + VAT (19%) for all participants who are not eligible for the HRDA subsidy.
*Last Date for 10% Early Bird Discount: 24/11/2026
Extra discounts may apply to the initial price, before the VAT and HRDA subsidy. Please view options below.
Note
We do not provide a soft copy of the presentation for face-to-face seminars. However, if you would like to request one, please contact us. We may be able to provide it, subject to approval. In this case, the cost of the soft copy will be €50 for participants who have already attended the relevant training, or €100 for those who have not.
HRDA Note
For HRDA approved trainings, all individuals who wish to attend our training courses should not only fill out our registration form, but also complete the registration process through the ERMIS platform in order to be approved by the HRDA. Please reach out to the HRDA Ermis officers on 22 390 300 for more details regarding this process. Kindly also note that each participant, regardless of whether they are claiming the HRDA subsidy or not, will need to complete their registration through ERMIS as a physical person and choose our training in order to be able to attend (either as an employee whose company is claiming the subsidy or as an individual who is not claiming the subsidy).
Eligibility of self‑employed individuals: The Schemes are open to any natural person who is registered as self‑employed with the Social Insurance Registry and carries out their activities in areas controlled by the Republic of Cyprus.
Discounts available
- For three or more (3+) participants from the same company, a 10% discount is available on the total cost, before the VAT and HRDA subsidy. This discount only applies for participants who enroll in the same seminar, on the same day. This discount can only be combined with the early bird discount and the HRDA subsidy, when applicable.
- For individuals/legal entities who/which register in more than three (3+) seminars during the same semester (January-June & July-December), a 10% discount is available on the total cost, before the VAT and HRDA subsidy. This discount only applies for individuals/legal entities who/which enroll in more than three (3+) seminars during the same semester, on the same day. This discount can only be combined with the early bird discount and the HRDA subsidy, when applicable.
- There is a 10% discount for alumni members. This discount should be applied before the VAT and HRDA subsidy and can only be combined with the early bird discount and the HRDA subsidy, when applicable. For more information on our alumni scheme, click here.
- There is a 10% early bird discount on selected seminars for participants who enroll in a training course until a specific date which is stated above. This discount should be applied before the VAT and HRDA subsidy and can only be combined with the HRDA subsidy, when applicable.
- HRDA subsidy for all HRDA approved seminars.
- Please note that while participants may qualify for multiple discounts, a maximum of two discounts, up to a total of 20%, can be applied per registration.
Contact
For any queries, please contact KPMG Academy on +357 22 207 460 or at academy@kpmg.com.cy
CPD
This seminar may contribute to Continuing Professional Development requirements. At the end of the seminar participants will be given a certificate of attendance confirming the total number of training hours (6,45 CPD).
Trainers
Georgiou Panayiota
Board Member, KPMG Law in Cyprus, Theodorides, Georgiou, Iacovou & Co LLC
Panayiota is a member of the Board of Directors of KPMG Law in Cyprus and has been with KPMG in Cyprus for more than 13 years. She holds an LL.B (Hons) and an LL.M in Commercial Law from the University of Cardiff in Wales. She was also admitted to the Cyprus Bar Association in 2008.
As a business lawyer, Panayiota has significant experience on local and cross border assignments in M&A, commercial, corporate finance, restructuring and insolvency law. She is a certified insolvency practitioner, a qualification which enables her to understand how distressed companies evolve and advise key stakeholders. In combination with her acute understanding of how corporations work, this allows her to carry out complex group reduction and legal entity rationalisation exercises, irrespective of insolvency. She also has long-standing experience on managing and coordinating M&A projects from the early stages until completion and monitoring of post-closing obligations. She is an accredited compliance professional and organises assignments pertaining to the application of regulatory and compliance requirements.
Panayiota is a member of the Association for European Restructuring and Insolvency Specialists, as well as of the International Association of Restructuring, Insolvency and Bankruptcy Professionals. She also served as a special advising member to the Insolvency Committee of the Institute of Certified Public Accountants of Cyprus (ICPAC) on legal matters.
Katerina Papanicolaou Charalambous
Board Member, Direct Tax Services, KPMG in Cyprus
Katerina graduated with a bachelor’s degree (Hons) in Economics from the University of East Anglia in the UK. She is a Fellow Member of the Association of Chartered Certified Accountants (FCCA) and an ADIT graduate. Additionally, she is a member of the Institute of Certified Public Accountants of Cyprus (ICPAC), a member of ICPAC’s Tax Compliance Committee and a certified “Trainer of Vocational Training” by the HRDA.
Katerina joined KPMG in Cyprus in 1995, where she worked in the Audit department prior to moving to Tax Services. Her portfolio of clients consists of companies listed in the Cyprus Stock Exchange as well as medium and large companies, both local and international.
Katerina possesses experience in the Banking, Investment, Real Estate, Insurance and Retail sectors. She is experienced in direct tax compliance services and actively participates in assisting clients during their tax examination by the Tax department in Cyprus, for identifying and settling their tax liabilities.
Michael Grekas
Board Member, Indirect Tax Services, KPMG in Cyprus
Michael is a Board Member at KPMG Cyprus, leading the Indirect Tax function and the Tax Technology development team. He specialises in Cypriot and EU VAT legislation, EU VAT reforms and European Court of Justice (ECJ) decisions, advising multinational and local organisations on complex VAT matters.
Michael has driven multiple VAT automation and digital transformation initiatives, including VAT coding design and implementation that enhance compliance and reporting efficiency. He also serves as Chairperson of the VAT Committee of ICPAC (Institute of Certified Public Accountants of Cyprus), contributing to the development of VAT policy and professional practice in Cyprus.
Michael has been the instructor in various KPMG training courses, presenter for various KPMG seminars and author of indirect tax articles. In 2015, Michael was certified by the HRDA as a “Trainer of Vocational Training”.
Yiannis Roussos
Senior Manager. Lead Valuation Specialist, Audit Services, KPMG in Cyprus
Yiannis is a Senior Manager in Audit Services, specializing in the real estate and construction sectors.
A dual-qualified Chartered Valuation Surveyor and Chartered Quantity Surveyor, he brings a diverse, cross-functional expertise from both the private and public sectors.
His valuation experience includes valuation and asset management practices in both private and public sectors, planning and feasibility studies, as well as legal enforcement and proceedings. He also possesses extensive real estate in banking expertise, specialising in the full lifecycle of distressed assets — from debt-to-asset swaps and onboarding to property management and monetization – as well as banking valuation practices, REO strategies, and collateral policies.
In construction, Yiannis has extensive experience in construction economics, including pre- and post-contract management, project management, feasibility and final account estimates, as well as comprehensive project oversight from inception to delivery. His portfolio of construction projects includes residential, commercial as well as large industrial projects, both with private and public contracts.
Yiannis has also served as an RICS assessor, and has participated in various boards and organisations, including the RICS Cyprus board, and the QS local association.
Marios Kapnisis
Senior Manager, Deal Advisory, KPMG in Cyprus
Marios is a Senior Manager in the Deal Advisory department of KPMG Cyprus, specialising in the real estate sector. He has extensive experience in the field, both in Cyprus and abroad. Before joining KPMG Cyprus, he worked for the government in the United Kingdom, specifically in a Valuation Office Agency, which was a specialised department of HMRC focusing on the real estate sector.
He provides professional services related to real estate to large multinational companies, banking institutions, individuals, government entities, and organisations. Additionally, he has written many articles on various topics within the real estate sector, served as a trainer in various presentations and seminars and is responsible for various publications of KPMG Cyprus related to the real estate industry.
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The programme has been approved by the HRDA. Enterprises participating with their employees who satisfy HRDA’s criteria, are entitled to subsidy.
