Cyprus Property Forum for Buyers, Sellers & Investors

Nigel,we are in the process of improving and considerably extending an old building which the locals have estimated to be at least 100 years old.We are having the work done in stages with various local contractors.The question is can we reclaim the VAT back which they are charging us,,thanks,Terry Liversidge

Hi Terry

Unfortunately you cannot claim VAT back for home improvements. (But this might be possible if you were a VAT registered company - and it was for your business).

You say the property is 100 years old +/- - have you made enquires regarding Government grants that may be available?

Cheers,

Nigel,thanks for your reply.With regards to government grants,the general concensus seems to be that it is such a mamoth task to aquire grants for building improvements that at the end of the day it is hardly worth it.It also appears you also have to have the property improved by the governments own design.Also we have allready started the project so it may be to late.
Is there anyone on the island who's business it is to aquire grants on your behalf i wonder like there is in the UK. I once got a building grant in the UK by a firm who charged me 20% of the total recieved which i was very pleased with.

Thanks again Terry Liversidge

Hi Terry,

As far as I'm aware there is no-one on the island who's got a business securing Government grants. The people I know who had had their old houses restored/renovated - their architect prepared the applications.

I know the rules are quite stringent - you can't do anything you want with the property. There is a specialist architect in Limassol I know but unfortunately I do not have her contact details with me (I'm in the UK at the moment).

Regards,

Thanks Nigel,hope you enjoy your break in the UK,,,have you got your umbrella with you...Terry Liversidge