Cyprus - Progress with Major Infrastructure Projects
Work on ‘world-class’ airport in Cyprus begins (published by Ready2Invest)
Improved travel links to Cyprus could mean a boost to local property as the country is set to become more accessible.
Larnaca and Paphos airports are part of the way through upgrades totalling 650 million euros (about £443 million) that the contractor said will make Larnaca very competitive.
Hermes Airports chief executive, Bob Manning, told Cyprus’ Financial Mirror that the works will turn Larnaca into “a world-class airport”.
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Cyprus - Progress with Major Infrastructure Projects
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Now that the HMRC in the UK is closing in on those people who rent out their properties in Cyprus the time has come to decide on how you want to pay tax on the income. And how much !!
1. Pay personal tax in Cyprus and Pay personal tax in the UK under a Double Taxation Treaty
OR
2. Or may be transfer property to Cyprus Registered company under an exempt CGT status and only pay 10% Corporation Tax in Cyprus.
See BDO Philippides Chartered Accountants - Link below;
www.bdo.com.cy/downloads/Tax%20aspects%20of%20relocating%20to%20Cyprus%2029%20May%202006%20BDO.doc
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Akamas - A Paradise Under Siege - a mantra for the Akamas Cyprus National Park by the Cyprus Green Party
http://home.clara.net/heureka/cyprus/akamas.htm
The Akamas Peninsula is in the far west of Cyprus at its most westerly point. Named after the son of Theseus, hero of the Trojan Wars and founder of the city-kingdom of Soli.
The Akamas Peninsula is an area of outstanding natural beauty - deep gorges, a wild landscape, wide sandy bays. It is also an area of great biodiversity and ecological significance. Home to 530 plant species, a third of the total for Cyprus, 126 of which are endemic to Cyprus. An unspoilt wild place thanks to its inaccessibility.
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The Akamas Cyprus - Is this Property Speculation with the National Park?
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Cyprus Property Information - Index
Here is an Index of the wide range of Cyprus Property Information that is available on this site http://downtoearthcyprus.net
Chapters
Property Regulations
Tax Tips
Property Tips
Finance Tips
Living in Cyprus
News Feeds
Articles
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Photo posted by Jim on CyprusLiving
Let’s hope that this lead in Lefkara will lead to a clean up over the whole of Cyprus !!
Copyright © Cyprus Mail 2007
Warning to Lefkara residents
LEFKARA municipality yesterday instructed owners of plots of land, fields and uninhabited houses within its municipal boundaries to clean up their properties, removing all unwanted materials, weeds and any other kind of rubbish by May 18.
Personal warnings will not be sent out, the municipality said.
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Law Offices of Andreas Coucounis & Co have published an interesting article in the Cyprus Mail about obtaining title deeds by way of specific performance.
Click here to read the article
But what does it mean for cyprus property buyers?
1. Firstly your contract must include the registered land owner if the developer or vendor is not the registered owner of the land. This means that your contract will include the name of the registered land owner, the vendor or developer of the building and the name of the buyer or buyers.
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More traps for the unwary !!
It is very tempting to purchase a large plot in an Agricultural Zone, Cover 10%, build your own house and then divide your plot.
The idea is to recoup the cost you laid out on the land by selling the other half as a building plot. Or even subdivide into smaller plots and turn a profit - become a developer.
In Agricultural Land, you are allowed to build ONE housing unit, whether you have public access or just a right of passage.
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Don’t be tempted to try and play “Developer” in Cyprus
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If you want a property to your design and specification then the advice is find an appropriate plot of building land with good unencumbered title, purchase it and get your Title Deeds right away.
I have just come across a variation that could place the unwary to disadvantage.
Vendors can sell the land with a clause in the sale contract requiring that they are the only ones that can build your property on the land. I call this ”the exclusive development clause”.
“7. PURCHASERS’ LIABILITY
The Purchasers agree to develop the land with the Vendors, whenever they decide.”
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Buying your Land in Cyprus to have a house built - is this always safe?
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We have already posed the important question “Is an Independent Lawyer Enough”? (click on the link to read)
The Cyprus Property Market has unexpectedly more risk than many others in Europe and I think that this is because it seems so like the UK market with all of its built in protection that people do not perceive the risks.
With the forecasts of great gains being available in 2007 and beyond, the risks are even higher !!
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Property Prices in Cyprus could increase in 2007 by 20%
Yes, according to respected Chartered Surveyor, Antonis Loizou & Associates.
Read the article here http://www.aloizou.com.cy/documents/Predictions-CyprusRealEstateMarket2007.htm
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The Black Art of Buying Property in Cyprus™ ®
The Cyprus Informer™ ® ©
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