selling an apartment in ayia nappa

jellybabies_2

Mornin all, dunno if anyone knows anything about doing this but we desperatly need some help.
My mates dad is terminally ill and before he passes away he wants to sell his apartment in Cyprus. Im going over with his daughter on wednesday to try and sort things out for him but neither of us have a clue what we are doing!!

He has spoken with a solicitor over there but has anyone got any info or tips that may be helpful. im wondering about costs, taxes etc.
Personally i think they are crazy to sell but he's pretty determined.
Thanx guys for any help. knowin this site i will be bombarded and go
armed with loads of info.god knows we need it!!!

:think:

Tassotti

First thing to do is to contact an English speaking Agent in Cyprus. Should be easy enough to find on he onterweb...or use the agent that sold it in the first price.

CGT is charged at 20%, but first CY10000 is exempt. If a couple own the property CY20000 is exempt.

There is no inheritance tax, so he could pass it onto his son/daughter

Some more info here

http://www.sunshineluxuryvillas.com/cyprus-information.htm

Thinking about it, I am sure my accountant once told me that the Overseas property can be nominated as one's main residence and no CGT is due.

This would need to be double-checked with an accountant.

ukmike

Might be better to post on this forum :-
http://groups.msn.com/CYPRUSLIVING/general.msnw

Zammo

Has it got a UK Garage? :rotfl:

jellybabies_2

thanx guys, have been browsing but these seem more about buying than selling....and errrm sorry but the last message went straight over my head!!
maybe that just emphasising my "blondeness" but i havent ever hid that fact.. well not often anyways. got a feeling its gunna be even more obvious
in Nappa.

goin back to study above sites but keep em comin please!!

:T :T :T