FEE SCHEDULE FOR LEGAL SERVICES RENDERED

The following fee structure is in accordance with the Regulations issued by the Bar Council of Cyprus on 16/1/1985 as amended.

HOURLY CHARGE-OUT RATES FOR LAWYERS

In the office CYP 50.00
Out of office CYP 60.00
Out of town CYP 100.00

CONTRACTS OF SALE

Obtaining instructions CYP 45.00

Preparing contracts of sale (drafting and printing), stamping and lodging same with the District Lands Office according to purchase price:

Up to CYP10.000 CYP100.00
From CYP10.000 to CYP15.000 CYP150.00
From CYP15.000 to CYP20.000 CYP200.00
From CYP20.000 to CYP50.000 CYP375.00
From CYP50.000 to CYP70.000 CYP500.00
From CYP70.000 to CYP100.000 CYP700.00
Over CYP100.000 CYP750 +(P-100.000)X5 1000
(P corresponds to the purchase price)

APPLICATION TO COUNCIL OF MINISTERS

Preparing application to Council of Ministers with supporting documents and following up: CYP300.00

PROCEDURES FOR TRANSFER

Obtaining Central Bank's authority CYP75.00

Arranging tax clearing CYP50.00

Attending Land Registry to effecting transfer of property CYP75.00

OTHER AGREEMENTS REFERRING TO IMMOVABLE PROPERTIES

Lease agreements, amending agreements, cancellations, gift instruments contracting agreements, etc.

As per Contracts of Sale and on hourly basis.

DEALINGS WITH CENTRAL BANK

Obtaining Central Bank's authority for the expatriation of funds CYP100.00

POWERS OF ATTORNEY

Simple form CYP 50.00

Complex form (depending on time involved) CYP100.00

BILLS OF EXCHANGE - BONDS

Up to CYP5.000 CYP20.00

Over CYP5.000 CYP30.00

WILLS

Simple form CYP50.00

Wills setting up trust CYP70.00

Complex form, depending on time involved but minimum charge CYP50.00

ADMINISTRATION OF ESTATES

Initial fee CYP250.00

Plus additional charge depending on value of estate, as follows:

Up to CYP10.000 5%
From CYP10.000 to CYP50.000 4%
From CYP50.000 to CYP100.000 2.5%
Over CYP100.000 1.5%

MANAGEMENT OF PROPERTIES

Maintenance, supervision, payment of rates depending on time involved but minimum annual charge CYP150.00

CONSULTATION

Written opinion on any matter related to immovable properties, depending on time involved but minimum charge CYP70.00

LITIGATION

As per Court scales

* The figures above are exclusive of VAT, the rate of which is currently fixed at 8%.
* Official fees, travel and courier expenses, photocopying and international telecommunications etc., all charged in addition to the fees stated above.
* The above fees do not include our fees for the translation of documents or for any additional services rendered in case of complexity of the case and which are calculated on an hourly basis.

Cyprus Property legal issues

Cyprus in International land market

Legislation related to immovable property in Cyprus

Legislation & foreign investment in Cyprus

Conclusions

Fees for legal services