Stamp Duty

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STAMP DUTY

Stamp Duty is a tax you may have to pay if you buy a residential property in Gibraltar over a certain price.

Stamp Duty Land Tax is the tax charged by the Gibraltar government, payable by the purchaser, on properties valued more than £200,000.

If the property you purchase has a value of less than £200,000, no Stamp Duty is payable.

The Gibraltar Stamp Duties Act 2005 (as amended by the Stamp Duties (Amendment) Act 2010), relates only to transactions involving real estate property situated in Gibraltar.

Stamp Duty Relief for First-time and Second-time Buyers

Currently for first-time and second-time buyers of residential property, no Stamp Duty is payable on the first £260,000.00 of the purchase price.

The following Stamp Duty thresholds currently apply: –

First-time & Second-time Buyers

Property Value/Purchase Price

Rate

Up to £260,000

Nil

Between £260,000 and £350,000

5.5%

Over £350,000

3.5%

 

Third-time or More Buyers

Property Value/Purchase Price

Rate

Up to £200,000

Nil

Between £200,001 and £350,000

2% on first £250,000 and 5.5% on balance

Over £350,000

3.5% on first £350,000 and 3.5% on balance

 

For some affordable housing estates, a special rate of 7.5% stamp duty applies within the first 10 years from the original purchase date.

When purchasing a property with the assistance of a bank, Stamp Duty is also payable on mortgages at a rate of 0.13% for borrowings of £200,000 or less; or 0.20% for borrowings more than £200,000.

LAND TITLES REGISTER

A fee of £125 per deed is charged for recording the property transaction in the Land Titles Registry.

Throughout our website and during our service offering, we will at regular intervals remind you to seek independent legal and financial advice prior to applying for a mortgage or purchasing or investing in a property.

USEFUL CONTACT DETAILS

The Government of Gibraltar Department of Town Planning & Building Control

E: https://www.gibraltar.gov.gi/town-planning/land-property-services-limited

T:            350-200 75483

Land Property Services Limited

E: http://www.lps.gi/

T:            350-200 40200

The following Stamp Duty Calculators have been provided by Land Property Services Limited (LPS), and come with the following disclaimer: –

This Stamp Duty Calculator is made available by Land Property Services Limited (LPS) as a model only and is meant to be used as a personal reference tool. Whilst LPS takes every effort to ensure that this calculator adequately reflects the latest legislation, the accuracy of these online calculations is not guaranteed nor is its applicability to your individual circumstances. The amounts shown are estimates only – actual amounts may be higher or lower. You should always obtain personal advice from qualified professionals.

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