Cyprus Property Forum for Buyers, Sellers & Investors

I know I know its been asked a zillion times before, but I'm sure we are all different and sometimes we dont all fit neatly into the box.

Dear Nigel, I have become resident here and wish to claim the VAT back on my property but.....
I work for a UK company and only receive the minumum wage, so dont pay tax or national insurance. I am paid into my UK bank account. Do I have to be registered for tax over here before I can claim VAT back ? Also I have read there is a time limit to claim. I bought the house in 2006 but only became full time resident in 2010, have I
missed the boat ?

Is there a step by step guide to claiming VAT back ? or an idiots guide just for me !!!

Thanks

Hi sixpence and welcome to the forum.

There are no idiots here - just people who need a helping hand.

You can read how to go about reclaiming part of the VAT you paid at VAT regulations relating to property, which includes a link to the relevant form.

Regards,

Hello,

I was contacted by a company called G&P re claiming VAT back. They said I was eligible....but I thought you had to be resident in Cyprus....which I'm not!

It sounds too good to be true! What are the implications for claiming the VAT back?

raven wrote:It sounds too good to be true! What are the implications for claiming the VAT back?

Hi raven - rule of thumb - if it sounds too good to be true, it probably is.

There's an article in the Financial Times about claiming VAT back on a property at Am I due VAT refunds from holiday homes?.

I suggest you also read Special Grant for Building or Purchasing a Residence - Law N.91(I)/2006 (VAT GRANT) which states:

"The applicant must be a person aged 18 years and above, being a Cypriot citizen or a citizen of a member state of the European Union who is permanently residing in the Republic of Cyprus and has no other property in Cyprus that is used as a permanent residence."

If G&P are prepared to make an application on your behalf at no charge - go for it - you have nothing to lose.

Regards,

Nigel Howarth wrote:

raven wrote:It sounds too good to be true! What are the implications for claiming the VAT back?

Hi raven - rule of thumb - if it sounds too good to be true, it probably is.

There's an article in the Financial Times about claiming VAT back on a property at Am I due VAT refunds from holiday homes?.

I suggest you also read Special Grant for Building or Purchasing a Residence - Law N.91(I)/2006 (VAT GRANT) which states:

"The applicant must be a person aged 18 years and above, being a Cypriot citizen or a citizen of a member state of the European Union who is permanently residing in the Republic of Cyprus and has no other property in Cyprus that is used as a permanent residence."

If G&P are prepared to make an application on your behalf at no charge - go for it - you have nothing to lose.

Regards,

Yes Nigel, but if they make a fraulent claim that he resides here and he signs to that effect, surely this is a criminal offence??

If you do not live permanently in Cyprus, you cannot claim the grant aid, if indeed this is what you seek.