An amount of money collected from the new purchaser by a municipality at the occasion of the transfer of a new or used immovable and of land, save and except for exemptions provided in the Law. It is also designated the Welcome Tax.
Transfer duties, commonly known as the “Welcome tax" were established in the 70’s by the former Liberal minister Jean Bienvenue (Bienvenue means “welcome” in French). An additional source of revenue for cities and municipalities, the tax requires you, as the new owner, to pay duties on the acquisition of real estate. It applies to transfers of any new or used building and land, unless exempted by Law.
Any new owner has 30 days to pay his transfer duties from the receipt of an invoice asking him to pay. Generally, this invoice is sent a few weeks after the acquisition of the apartment.