Title Deeds Discount Deadline

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Tom
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Joined: 15 Nov 2012 19:05

Title Deeds Discount Deadline

Post by Tom » 23 Jun 2016 10:46

Hi Nigel
A friend and neighbour owns an apartment on our complex which he occupies three times a year, when he visits from the UK.
On his current visit he had a meeting with his Lawyer re the progress of receiving his Title Deeds (via power of attorney) He was informed all was going well, and he will receive his Title Deeds at the 50% discount rate. His lawyer went on to say that at a recent government meeting it was agreed to extend the deadline of December 2016 to 2017, and possibly indefinitely.
Any chance of confirming this extended deadline for the issue of Title Deeds please.
Many Thanks
Tom



Nigel Howarth
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Re: Title Deeds Discount Deadline

Post by Nigel Howarth » 23 Jun 2016 15:21

Hi Tom,

The Finance Ministry has submitted a number of proposals to the Cyprus government on reforming the property taxation system. One of them is for the indefinite extension of the 50% reduction in Property Transfer Fees

These reforms were discussed today and further discussions will be held on Monday. There were a couple of reports in the Greek language media this morning on progress:

http://www.stockwatch.com.cy/nqcontent. ... 10&lang=gr

http://www.stockwatch.com.cy/nqcontent. ... 73&lang=gr

(View the above links in Google Chrome, which has an in-built translation feature.)

Any changes have to be approved by Parliament - and although the Government may have agreed what it wants to do, it does not have a majority in Parliament. Expect some horse trading.

Regards,


Nigel Howarth
Independent information & advice for Cyprus property buyers
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Tom
Posts: 18
Joined: 15 Nov 2012 19:05

Re: Title Deeds Discount Deadline

Post by Tom » 28 Jun 2016 08:53

Hi Nigel
Thanks for your reply and the links.
Looks like watch this space for more information. (As always) And of course your property newspaper.

Best Regards
Tom



Nigel Howarth
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Re: Title Deeds Discount Deadline

Post by Nigel Howarth » 28 Jun 2016 09:23

Hi Tom

There were further discussions yesterday on property tax reform and they will continue next Monday.

Regards,


Nigel Howarth
Independent information & advice for Cyprus property buyers
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tquigs
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Joined: 07 Apr 2015 10:59

Re: Title Deeds Discount Deadline

Post by tquigs » 24 Oct 2016 01:11

Hi Nigel,

Could you please tell me if you are aware of any news about the deadline for obtaining title deeds
(at 50% discount) as still being by the end of this year or not?

Thanks for your assistance.

Kind regards,

Tom



Nigel Howarth
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Re: Title Deeds Discount Deadline

Post by Nigel Howarth » 24 Oct 2016 08:48

Hi Tom

The 50% discount is permanent - see Property Transfer Fees reduction permanent.

Regards,


Nigel Howarth
Independent information & advice for Cyprus property buyers
Contact Nigel Howarth
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tquigs
Posts: 4
Joined: 07 Apr 2015 10:59

Re: Title Deeds Discount Deadline

Post by tquigs » 31 Oct 2016 15:14

Hi Nigel,

Many thanks for sending through the link with the confirmation - that is good news for a change :-)

Kind regards,

Tom



Nigel Howarth
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Re: Title Deeds Discount Deadline

Post by Nigel Howarth » 31 Oct 2016 21:51

You're welcome Tom

Rgds,


Nigel Howarth
Independent information & advice for Cyprus property buyers
Contact Nigel Howarth
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