Cyprus Property Forum for Buyers, Sellers & Investors

hi

can anyone out there help us we have been advised by a family member
that it will be extremly diffult to transfer monies from a land sale to a UK account.

Can anyone inform us if this is the case?


does anyone one know what the procedure is regarding land sales in Cyrus is there
a list of steps to follow and is it easy to complete.
Any info would be appreciated .

Hi suenat1

The restrictions on taking money out of Cyprus were lifted many years ago. Today there are no problems - you can take out as much money as you like.

Selling land is straightforward - find a buyer, agree the price, get a lawyer to draft a contract of sale.

One thing you will need to do is pay any taxes - including Capital Gains Tax on the profit. Any decent lawyer will help/advise on the details.

I suggest that you take good care of all the invoices and receipts as the authorities in all EU countries are stamping down on money laundering and you may have to prove where the money came from.

And once you have the money, you can send it to me at my home address

Regards,

suenat1 wrote:

can anyone out there help us we have been advised by a family member
that it will be extremly diffult to transfer monies from a land sale to a UK account.

Can anyone inform us if this is the case?

This is nonsense, they don't know what they are talking about. EU free movement of money easy as pie.

does anyone one know what the procedure is regarding land sales in Cyrus is there
a list of steps to follow and is it easy to complete.
Any info would be appreciated

Easy as 1-2-3, just like Nigel said. Unless you paid for the land then expect a hefty CGT bill, 20%.

You have some allowances, index rating for inflation before it was acquaired, but the lawyer will sort all this out for you.

When you have made the sale and wish to transfer it, please let me know I work with a very good, fast, trustworthy exchange company that will give you the best rate to maximise your sterling at the other end.

thank you very much for the information it clears a few points
up

suenat1