The fees charged by the Department of Land and Surveys to the acquirer for transfers of immovable property are as follows:
Market Value |
Rate |
Fee |
Accumulated fee |
|
€ |
% |
€ |
€ |
|
First 85.000 |
3 |
2.550 |
2.550 |
|
From 85.001 to 170.000 |
5 |
4.250 |
6.800 |
|
Over 170.000 |
8 |
||
However:
- No transfer fees are payable if VAT is applicable upon purchasing the immovable property.
- The above transfer fees are reduced by 50% in case the purchase of immovable property is not subject to VAT.
In the case of free transfers of property the transfer fees are calculated on the value of the property as follows:
- from parents to children - Nil
- between spouses - 0,01%
- between third degree relatives - 0,01%
- gree relatives - 0,01% " t
'Value' in these cases refers to values as at 1 January 2013.
Mortgage registration fees are 1% of the current market value.
In the case of companies' reorganisations, transfers of immovable property are not subject to transfer fees or mortgage registration fees.
Further, certain debt-for-asset swap arrangements may under conditions be exempted from transfer fees.
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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.