Search found 631 matches

by Pantheman
14 Jan 2021 00:46
Forum: Selling Property
Topic: Selling inherited land in Cyprus from the UK
Replies: 3
Views: 32

Re: Selling inherited land in Cyprus from the UK

Thank you for the reply. Yes, she also owned a property in London which took the total value of assets over the threshold for inheritance tax in the UK. Just to be clear, you don't pay capital gains on land if there is no property built on it? Sorry for what must seem like a stupid question! Yes CG...
by Pantheman
13 Jan 2021 18:29
Forum: Selling Property
Topic: Selling inherited land in Cyprus from the UK
Replies: 3
Views: 32

Re: Selling inherited land in Cyprus from the UK

Hello, I cannot see why he paid inheritance tax since the threshold if £325,000 before it is due! Unless of course your grandmother owned much more asset. Here in Cyprus CGT is paid on the sale of real estate, as long as there are gains greater than the allowances for each case. He can get his euros...
by Pantheman
07 Jan 2021 15:08
Forum: General Property Questions
Topic: Applying for planning permission
Replies: 1
Views: 93

Re: Applying for planning permission

Nigel & Co, Is there a CY equivalent to 'Outline Planning permission' and if yes what is the name used here? I have some land and I would like to apply for permission to build a small bungalow and I don't see the point in paying for aritectural plans if I'm going to be refused at the first hurdle. ...
by Pantheman
31 Dec 2020 18:07
Forum: General Property Questions
Topic: UK Citizen - status for property purchase in Cyprus
Replies: 2
Views: 118

Re: UK Citizen - status for property purchase in Cyprus

Although it is too soon to say at this time, the council of ministers permission was purely a formality and is applied for at the time of purchase, as far as I know it was never refused. This was a requirement so that non-EU persons could register a single title to their name. You can still buy a re...
by Pantheman
30 Dec 2020 23:39
Forum: General Property Questions
Topic: *** Applying for your Title Deeds ***
Replies: 51
Views: 50705

Re: *** Applying for your Title Deeds ***

Thanks Pan I've corrected my reply - I don't know what I was thinking. I've heard from one person who got the additional 10%. But this was quite soon after the law came into force. The 10% is still being stated on the DLS website. Page 14 of Enclaved Buyers . Also in the Greek language version . Re...
by Pantheman
30 Dec 2020 18:56
Forum: General Property Questions
Topic: *** Applying for your Title Deeds ***
Replies: 51
Views: 50705

Re: *** Applying for your Title Deeds ***

Nigel, your comment : 'The 10% reduction applies if you pay the transfer fees within 60 days of the Land Registry advising you they are ready and is in addition to the 50% reduction (which applies if you paid VAT.) ' The 50% is if you paid NO vat , if you paid vat you are supposed to be free from an...
by Pantheman
29 Dec 2020 17:47
Forum: General Property Questions
Topic: *** Applying for your Title Deeds ***
Replies: 51
Views: 50705

Re: *** Applying for your Title Deeds ***

Dear Chateau, so sorry to hear about your wife. The simple answer is, you will need to do probate in order to effect any assets your late wife had into your name. I understand you have a will, was this just for you Cyprus assets?? Since you would have needed a clause in it to say you wanted the will...
by Pantheman
12 Dec 2020 20:04
Forum: General Property Questions
Topic: Many questions about investing in property
Replies: 13
Views: 908

Re: Many questions about investing in property

This week I spoke with a solicitor that deals mostly with property and rental law. Due to the ROC joining the EU and the prohibition of discrimination between nationals and EU citizens established in the EU treaties which supersede national law, "does not include a non-citizen of the Republic" nowa...
by Pantheman
09 Dec 2020 10:09
Forum: FAQ
Topic: cgt calculation
Replies: 4
Views: 534

Re: cgt calculation

Hi Pantheman That is indeed a great help. Thank you Its clear that you are a true property expert so.. Im going to push the boat out a bit further here and ask whether I have made a mistake? My estate agent has recommended a lawyer to act on my behalf as he is both quick and competitively priced. I...
by Pantheman
08 Dec 2020 12:12
Forum: FAQ
Topic: cgt calculation
Replies: 4
Views: 534

Re: cgt calculation

Here's one I did previously. Here is an example of a CGT calculation, just put in the numbers you have and work it out. It should be close to what the Tax Dept. will do anyway. Here is an example of a CGT calculation, just put in the numbers you have and work it out. It should be close to what the T...
by Pantheman
07 Dec 2020 19:23
Forum: General Property Questions
Topic: Many questions about investing in property
Replies: 13
Views: 908

Re: Many questions about investing in property

Hello Nigel, so there is no provision in the law for non-Cypriots then?? If I understood you correctly. (edit: the law says the definition of 'tenant' does not apply to non-citizens of the RoC. I don't understand how this can be so, but does not make clear if they can or cannot be statutory!! ) I th...
by Pantheman
07 Dec 2020 10:41
Forum: General Property Questions
Topic: Many questions about investing in property
Replies: 13
Views: 908

Re: Many questions about investing in property

Hi Pan There's a paper at https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&cad=rja&uact=8&ved=2ahUKEwiYk6mRqrvtAhVk_SoKHaxIBl4QFjAPegQISRAC&url=https%3A%2F%2Fwww.neocleous.com%2Fpublications%2Fdownload%2Fre15-chapter-9-cyprus-pdf.pdf&usg=AOvVaw1FyzIpukgFB77jeWvqezB7 - see para 10.5. (...
by Pantheman
07 Dec 2020 00:45
Forum: General Property Questions
Topic: Many questions about investing in property
Replies: 13
Views: 908

Re: Many questions about investing in property

Hi Nigel

Regarding your comment:

‘And the law only applies to Cypriots. A foreigner cannot become a statutory tenant.’

This is new to me as I don’t recall the law specifying this detail.

Where did you hear about this? I will try to look it up

Regards
by Pantheman
05 Dec 2020 12:15
Forum: General Property Questions
Topic: Next door property empty and causing damp
Replies: 2
Views: 300

Re: Next door property empty and causing damp

Hello, If I may offer an opinion. a) is there any method of forcing a compulsary purchase of this propery in the absence of the owner? - No you cannot b) is there any way of finding out what memos are attached to the property without getting permission from the absent owner? - The bank maybe able yo...
by Pantheman
19 Nov 2020 10:16
Forum: General Property Questions
Topic: Selling Property in Cyprus After Family Member Dies
Replies: 1
Views: 338

Re: Selling Property in Cyprus After Family Member Dies

Hello - My uncle (a US Citizen) passed away earlier this year and he owned property in Cyprus. My mother (also in the US) is the executor of his estate. We are trying to work out the process of how to manage the title and sell the property. In case it matters, my uncle was a single man with no chil...