The vat can be 5% before you build. Your builder will have to apply for this reduced rate. It is done via his accountant. You do not have to finished building and move in.
I have family that built with the reduced rate before the construction was completed.
As your prospective builder about this.
Search found 807 matches
- 02 Dec 2022 10:11
- Forum: Buying Property 'Off-Plan'
- Topic: 5% reduced VAT problem with buying a plot and building independently
- Replies: 4
- Views: 13643
- 28 Nov 2022 10:16
- Forum: General Property Questions
- Topic: Boiler service
- Replies: 2
- Views: 1760
Re: Boiler service
In my book, all the infrastructure should be in good working order and it is the landlords responsibility to ensure as such. Of course the is no law, otherwise where does it stop. You will otherwise be paying for something that is not yours, your rental payments should cover any repairs needed. Chal...
- 22 Nov 2022 13:29
- Forum: Selling Property
- Topic: New stealth tax upon selling
- Replies: 4
- Views: 3746
New stealth tax upon selling
As of Monday 21/11/2022, the Land registry will no longer accept transfers without the new tax being paid. The tax was vote into force on the 1/2/2021, but was never implemented as the tax office was; a. not set up to collect it, and b. no one knew what to do. The tax is called the equal burden tax ...
- 03 Nov 2022 12:39
- Forum: Communal Property Management
- Topic: communal fees - penalty fee
- Replies: 10
- Views: 8324
Re: communal fees - penalty fee
https://www.stockwatch.com.cy/el/articl ... m=facebook
Sorry it's in Greek but easily translatable.
No transfer of property with outstanding communal fees!! Hip Hip Hooray.
Sorry it's in Greek but easily translatable.
No transfer of property with outstanding communal fees!! Hip Hip Hooray.
- 29 Oct 2022 20:53
- Forum: General Property Questions
- Topic: Using property for family and friends
- Replies: 2
- Views: 1855
Re: Using property for family and friends
I currently own a property in Paphos and allow family and friends to stay there if they cover the costs of their stay. I don't advertise the property anywhere as its just people we know. Do I still need a licence under the new law passed in 2020 does anyone know? Thanks for any help No, you don't n...
- 27 Oct 2022 19:52
- Forum: General Property Questions
- Topic: Building Permit
- Replies: 2
- Views: 1898
Re: Building Permit
Hi, Your lawyer can contact the District Admin of the district you are in. If you have the complex name and who the developer was, they may be able to trace it. If you have plans on your original contract that details the architects name then you could approach him and ask if he will produce it, at ...
- 23 Oct 2022 13:44
- Forum: General Property Questions
- Topic: Jount Buiding Insurance
- Replies: 6
- Views: 2698
Re: Jount Buiding Insurance
The committee is responsible to insure the jointly owned property as per the law. This owner has to comply and pay towards it. However, she/he can have their own insurance for the internals of their apartment as a separate insurance, but cannot be isolated from the main jointly owned property insura...
- 13 Oct 2022 08:53
- Forum: General Property Questions
- Topic: Looking for a contractor for renovating a property in Limassol
- Replies: 2
- Views: 1904
- 11 Sep 2022 16:48
- Forum: Communal Property Management
- Topic: 75% owners vote
- Replies: 3
- Views: 2609
Re: 75% owners vote
Hi WillowTree Looking through the law, it states "by decision of the owners of at least seventy five per cent (75%) of the jointly-owned property" That is not 75% of the owners, it's the owners of 75% of the jointly-owed property. (The percentage of the jointly-owned property that each owner owns i...
- 10 Sep 2022 09:42
- Forum: General Property Questions
- Topic: Selling with furniture
- Replies: 6
- Views: 2751
Re: Selling with furniture
Hello again Nigel I am wondering how much a solicitor how much a solicitor may charge for a ‘furniture agreement’? Any advice is most welcome. Seriously, when the lawyer draws up the sale contract he will also do a 'Furniture Agreement', it'll all be included in the price he asks once you tell him ...
- 10 Sep 2022 09:41
- Forum: General Property Questions
- Topic: Selling with furniture
- Replies: 6
- Views: 2751
Re: Selling with furniture
Hi Nigel Thank you. Read the article you gave me the link to. Very useful. I just need clarification - I am a uk resident and pay my taxes to the uk. Will I pay capital gains tax to Cypriot tax office or the uk tax office ? Thank you Yes CGT is paid in Cyprus and will be offset against any CGT dema...
- 10 Sep 2022 09:39
- Forum: General Property Questions
- Topic: Property Transfer to Heir
- Replies: 5
- Views: 2610
Re: Property Transfer to Heir
Hi One further question: can the probate costs for cy will to be executed be offset against capital gains tax when the property is sold please? No, probate is to allow the administrator to sign on behalf of the deceased. Once sold it is as if the deceased is selling it. Any capital gains tax will b...
- 07 Sep 2022 13:45
- Forum: General Property Questions
- Topic: Property zones
- Replies: 3
- Views: 2164
Re: Property zones
Hi, We are want to buy some land near Polis to build a house. We have been offered all sorts of plots from agents but we are worried that they do not really know how easy or difficult it will be to obtain planning permission or that they are are sure of the land zoning. Where can I find a list of t...
- 07 Sep 2022 13:38
- Forum: General Property Questions
- Topic: Updated title deeds
- Replies: 3
- Views: 2112
Re: Updated title deeds
Hi pissouri123 It's the purchaser's responsibility to to instruct their lawyer to carry out a title search on the property . The cost of the actual search is €20, but the lawyer will include their fees for doing the work. It does involve two trips to the Land Registry office - one to request the se...
- 06 Sep 2022 09:05
- Forum: General Property Questions
- Topic: Building Permissions Z1 Zoning
- Replies: 6
- Views: 3275
Re: Building Permissions Z1 Zoning
Thanks Nigel! Is there any contact information for Pantheman? It's starting to sound like the only way to know is to apply for a building permit. Is that a document accessible online or do I need to be in Cyprus to fill it out? Cheers! Hello SPapa, Some questions for you: 1. Where is you land locat...