Search found 2237 matches

by Nigel Howarth
20 Feb 2018 18:30
Forum: General Property Questions
Topic: Hidden Mortgage/Trapped Buyers Law
Replies: 3
Views: 66

Re: Hidden Mortgage/Trapped Buyers Law

Dear Friend Unfortunately the banks have won court cases in which they argued that the trapped buyers' contracts largely on the grounds that the buyer’s claim on the property infringed on the contract between the bank and the developer. I've published a few articles on the subject: Banks playing a d...
by Nigel Howarth
16 Feb 2018 16:01
Forum: Mark Nowell's Financial Questions
Topic: euro current accounts
Replies: 1
Views: 37

Re: euro current accounts

Hi HappyCamper Opening a Cyprus bank account from the UK straightforward. Just visit an overseas branch of a Cypriot bank operating in the UK. (For example the Bank of Cyprus has branches in Birmingham, London and Manchester.) Once opened you can transfer money from your UK account into your Cyprus ...
by Nigel Howarth
15 Feb 2018 23:14
Forum: General Property Questions
Topic: No Title deeds
Replies: 4
Views: 93

Re: No Title deeds

Pippa wrote:
15 Feb 2018 17:19
why is it included in an estate for probate?
Because you have a right to own it.

Regards,
by Nigel Howarth
14 Feb 2018 21:26
Forum: General Property Questions
Topic: Title Deeds issue
Replies: 3
Views: 53

Re: Title Deeds issue

Hi paul3

One way you can 'encourage' a developer to get Title Deeds issued is to have a clause in your contract withholding a decent sum until Title Deeds are issued and available for transfer.

Unfortunately it sounds as if your contract doesn't include such a clause.

Regards,
by Nigel Howarth
14 Feb 2018 17:56
Forum: General Property Questions
Topic: Title Deeds issue
Replies: 3
Views: 53

Re: Title Deeds issue

Hello paul3 and welcome to the forum. There are a number of options: 1. As your lawyer suggests write to your developer urging him to complete the work. 2. Take matters into your own hands together with your neighbours and arrange and pay for the road & pavements to be completed and arrange for the ...
by Nigel Howarth
14 Feb 2018 12:16
Forum: General Property Questions
Topic: Capital Gains Tax revisited
Replies: 19
Views: 174

Re: Capital Gains Tax revisited

Hi jackk19 Minimum lawyers fees for out of court work are dictated by the Cyprus Bar Association - see Cyprus Bar Association Minimum Fees Regulations . The legality of these fees is currently being challenged in the EU as they violate the Treaty on the Functioning of the European Union. As for a cl...
by Nigel Howarth
14 Feb 2018 10:08
Forum: General Property Questions
Topic: No Title deeds
Replies: 4
Views: 93

Re: No Title deeds

Hi Pippa Yes - until the Title Deed to the property has been registered in the name of the purchaser, the vendor remains the property's legal owner. (You can delete hypothetically) If you do not have the deeds, I suggest you apply for them as described in my article Applying for Title Deeds . Regards,
by Nigel Howarth
13 Feb 2018 13:36
Forum: General Property Questions
Topic: Capital Gains Tax revisited
Replies: 19
Views: 174

Re: Capital Gains Tax revisited

Hi Pan I've looked through the Capital Gains Tax Law 52/1980 but cannot fine anything about multiple use of the personal allowance. However, there is something on the Tax Department's website on the subject: "The capital gain, as determined by the Capital Gains Tax Law, is liable to tax at the rate ...
by Nigel Howarth
13 Feb 2018 09:35
Forum: General Property Questions
Topic: Capital Gains Tax revisited
Replies: 19
Views: 174

Re: Capital Gains Tax revisited

You pay CGT at the Tax Department and they will issue you with a receipt that you take to the Land Registry when the transfer takes place.

Regards,
by Nigel Howarth
13 Feb 2018 00:04
Forum: General Property Questions
Topic: Capital Gains Tax revisited
Replies: 19
Views: 174

Re: Capital Gains Tax revisited

jackk19 wrote:
12 Feb 2018 23:49
Can the allowances be used multiple times until exhausted. And if so can the 17k personal allowance be used for land as well as residencies until you reach the 85k.
Yes and yes. You'll need an accountant to work out the figures then present them to the Tax Department.

Regards,
by Nigel Howarth
12 Feb 2018 20:01
Forum: General Property Questions
Topic: Capital Gains Tax revisited
Replies: 19
Views: 174

Re: Capital Gains Tax revisited

Hi jackk19 Apologies - the € 25,629 allowance is only applicable for the sale of agricultural land by a farmer as Pan has said. You are entitled to get a personal allowance when you sell a property until you reach the maximum lifetime allowance of € 85,430. After that you will get no more personal a...
by Nigel Howarth
12 Feb 2018 11:13
Forum: Communal Property Management
Topic: Calculation of Communal Charges
Replies: 5
Views: 87

Re: Calculation of Communal Charges

Hi Pan

I've heard from 2 or 3 people who have managed to get contact details from the Land Registry. It took a little time and I think the LR had to find the sale agreements.

Regards,
by Nigel Howarth
11 Feb 2018 11:07
Forum: General Property Questions
Topic: Capital Gains Tax revisited
Replies: 19
Views: 174

Re: Capital Gains Tax revisited

Hi jackk19 As it's agricultural land you'll get an allowance of €25,629. You can find the Consumer Price Index tables at http://www.mof.gov.cy/mof/cystat/statistics.nsf/economy_finance_14main_en/economy_finance_14main_en?OpenForm&sub=4&sel=2 The one you should use is labelled "CONSUMER PRICE INDEX –...
by Nigel Howarth
10 Feb 2018 23:22
Forum: Louise Zambartas' Legal Questions
Topic: Developer ignors laws & regulations
Replies: 4
Views: 91

Re: Developer ignors laws & regulations

Hi Homeowner and welcome to the forum

The government introduced incentives to kick-start the economy. The approval of hi-sise developments is one of them.

Regards,
by Nigel Howarth
10 Feb 2018 23:09
Forum: General Property Questions
Topic: Capital Gains Tax revisited
Replies: 19
Views: 174

Re: Capital Gains Tax revisited

Hi jackk19

I published a comprehensive article on Capital Gains Tax a few years ago. You can find it at Capital Gains Tax on the Sale of Property in Cyprus.

If anything's unclear, please get back to me.

Regards,