Working Together in Prosperity

Following some queries from clients who have been told they have to log their wills with the court in Cyprus and pay for a stamp from the Inland Revenue to do so, this is the current situation as explained by our lawyer.

All contracts and legal documents in Cyprus need to be registered and stamped; the stamps vary in cost and are obtained from the Inland Revenue office.

For wills, there is a small fine if not registered and paid within a specified time (12 months).  At present, the maximum is just below 60 euros.

However, it costs 20 euros to register and log, but should you need to retrieve the will if any alterations are needed, it will cost 60 euros plus another 20 to re-register.

As wills should be reviewed from time to time, the advice is, it is better to keep your will in a safe place, and register at such time as it comes into force, paying any charges at that time.

We are happy to discuss any queries, please don’t hesitate to contact the office on 25 825 876.

Ross Pays is the Chairman of The FAA based in Cyprus. FAA offer advice on wills, tax registration services, home, health and car insurance and tax planning, including Inheritance Tax Planning, together with full accounting services.

Visit Ross Pays website at www.rosspays.com, Telephone 00 357 25 82 58 76, Fax 00 357 25 33 35 93 or e-mail ross@rosspays.com
Initial consultations are free and no obligation and fee quotations will be provided in advance for all services.