Other Taxes - Estate Duty

Estate duty is payable on all property passing on death or deemed to pass on death, of a deceased person except where such person is a child, who had acquired property by gift from his parents, passes to his surviving parents. In the case of a deceased person domiciled in Cyprus the whole property, wherever situated, is taxable, whereas in the case of a deceased person not domiciled in Cyprus only property situated in Cyprus is taxable. Gifts made within three years of the death are also taxable.

Property acquired in Cyprus after January, 1976 from remittances from abroad is exempt where the deceased had his domicile in Cyprus at the time of his death and was at any time before his death permanently residing outside Cyprus. Any property held by the deceased as trustee is not taxable.