Εισηγήσεις για Νέα Κίνητρα  στα Ακίνητα

Εισηγήσεις για Νέα Κίνητρα  στα Ακίνητα

από τον Σολομών Κουρουκλίδη

Επίτιμο  Πρόεδρο Του Συνδέσμου Κτηματομεσιτών Επιχειρηματιών Κύπρου (ΣΚΕΚ)

6 Δεκεμβρίου 2018

Λόγω της επιβολής του ΦΠΑ 19% στα οικιστικά τεμάχια και οικόπεδα, εισηγούμαστε τα ακόλουθα:

1ον)  Να μειωθεί ο φόρος κεφαλαιουχικών κερδών για τους Πωλητές οικιστικών τεμαχίων και Οικοπέδων από το 20% στο 10%, προσωρινά για μια περίοδο τουλάχιστον δύο χρόνων.

2ον)  Όταν επιβάλλεται ΦΠΑ στα οικιστικά τεμάχια και οικόπεδα όσον αφορά τους ιδιώτες (όχι εταιρείες) ο συντελεστής του ΦΠΑ να μειωθεί στο 5 % χωρίς περιορισμούς, για να βοηθήσουμε τη μικρομεσαία τάξη.

Τα δύο προαναφερθέντα κίνητρα, όχι μόνο θα αντισταθμίσουν, αλλά και θα μετριάσουν τα αρνητικά αποτελέσματα της επιβολής του ΦΠΑ στα οικιστικά τεμάχια και οικόπεδα και συγχρόνως πιστεύουμε ότι θα  ενθαρρύνουν τις αγοραπωλησίες οικιστικών τεμαχίων και οικοπέδων.

3ον) Θα ήθελα συνάμα να επισημάνω το θέμα των ψηλών ενοικίων. Η αγορά λειτουργεί με την προσφορά και τη ζήτηση  και καθορίζει το ύψος των ενοικίων. Πολλοί υπήρξαν οι λόγοι που οδήγησαν στην αύξηση των  ενοικίων. Αναφέρουμε μερικούς από αυτούς:

Η ημερήσια ενοικίαση ή το λεγόμενο «Airbnb»,

Η νομοθεσία του ΦΠΑ για τα οικιστικά τεμάχια και οικόπεδα,

Η έλευση μεγάλων εταιρειών με τους υπαλλήλους τους,

Η τριτοβάθμια εκπαίδευση κτλ.

Αξιοσημείωτον είναι και το ότι το φαινόμενο των ψηλών ενοικίων συναντάται κυρίως στη Λεμεσό και τη Λευκωσία προς το παρόν. Ωστόσο, αν δεν το προσέξουμε ιδιαίτερα, τότε θα επεκταθεί και σε άλλες πόλεις.

Ππροτείνουμε κάποιες λύσεις σήμερα, ώστε να δοθεί ο χρόνος στο κράτος να επιλύσει οριστικά το πρόβλημα αυτό. Οι λύσεις αυτές είναι:

  • τροποποίηση του νόμου για το ΦΠΑ στα οικόπεδα και οικιστικά τεμάχια, για να δοθεί η δυνατότητα σε νεαρά ζευγάρια να κτίσουν το δικό τους σπίτι,
  • να υποχρεωθούν οι ιδιοκτήτες να δηλώσουν τα ακίνητά τους προς ημερήσια ενοικίαση με κάποια προθεσμία, για να επωμιστούν και τις ανάλογες φορολογίες,
  • για να παύσουν οι πειρατές του επαγγέλματος να εγκλωβίζουν τα ακίνητα είτε να συμβουλεύουν λανθασμένα τους ιδιοκτήτες να ζητούν ψηλό ενοίκιο, πρέπει οι πολίτες να αποταθούν σε αδειούχους επαγγελματίες, οι οποίοι θα τους συμβουλεύσουν σωστά και
  • οι αγοραστές δικαιούχοι του μειωμένου συντελεστή ΦΠΑ να μπορούν να προσφέρουν το ακίνητό τους προς ενοικίαση.

 

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Όχι Πώληση – Όχι Πληρωμή

No upfront fee. And no-sale no-fee guarantee.

The fee is payable on completion and is based on your sale price which will be agreed with you in your valuation.

We are so confident that we will sell your property that we guarantee no sale – no fee. That means, if you or another agent sells the property, you pay nothing to us.

NOTE:

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valuable FREE Property INSIDER TIPS , NEWS / INFO/ and UPDATES.

.Click to Register

Thank you for visiting our website,

Solomon Kourouklides

B.Sc.Hons.(Econ) – UK, SCV – Senior Certified Valuer.

www.cyprus-buyrent.com

Specialist for Limassol Properties,

Lemesos , Cyprus

 

 

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Ζητείται Οικιστική Γη

Ζητείται οικιστικη Γη για αγορά

 

Please Go to ” Log In ” and Register as a member.

Click here to register:     Land Wanted

Thank you for visiting our website,

Solomon Kourouklides    

B.Sc.Hons.(Econ) – UK,   SCV – Senior Certified Valuer.

www.cyprus-buyrent.com

Specialist for Limassol Properties,

Lemesos , Cyprus

 

 

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cash Buyer

CYPRUS – Personal Income Tax

CYPRUS – Personal Income Tax Rates For Individuals

Level of Income Tax Rate % Tax Amount € Cumulative Tax €
0-19.500 0
19.501-28.000 20 1.700 1.700
28.001-36.300 25 2.075 3.775
36.301-60.000 30 7.110 10.885
Over 60.000 35

NOTE:

———–

We offer to all our Visitors ,  who wish to Register with our Website,

valuable FREE  Property INSIDER TIPS , NEWS / INFO/  and UPDATES.

.

Please Go to ” Log In ” and Register as a member.

Click here to register:     www.cyprus-buyrent.com/en/register/

Thank you for visiting our website,

Solomon Kourouklides 

B.Sc.Hons.(Econ) – UK,   SCV – Senior Certified Valuer.

www.cyprus-buyrent.com

Specialist for Limassol Properties,

Lemesos , Cyprus

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cyprus

Ευρωπαικό Κυπριακό Διαβατήριο γιά Μή Ευρωπαίους

Dear Non European Investor,

New citizenship scheme For Non Europeans .

 

THE COUNCIL of Ministers in Cyprus approved a NEW  scheme for granting Cypriot citizenship to non-Cypriot entrepreneurs/investors.

The new scheme aims to encourage real investments that would benefit the economy. The government,  wants to attract investors who will chose Cyprus as their basis of residence and economic activity.

Investments should be kept for three years and companies in which investments are made should employ at least five Cypriot citizens.

The most important change,  is that the new scheme abolishes the provision for collective investment of €12 million which is being replaced by an individual investment of €2 million and the purchase of a residence worth at least €500,000.

The new scheme terminates the provisions for the granting of citizenship to those with bank deposits worth €5 million, to persons whose deposits have been affected due to the measures implemented after the 15th March 2013 and those who purchased bonds worth €2.5 million.

NOTE:

———–

We offer to all our Visitors ,  who wish to Register with our Website,

valuable FREE  Property INSIDER TIPS , NEWS / INFO/  and UPDATES.

.

Please Go to ” Log In ” and Register as a member.

Click here to register:     www.cyprus-buyrent.com/en/register/

Thank you for visiting our website,

Solomon Kourouklides 

B.Sc.Hons.(Econ) – UK,   SCV – Senior Certified Valuer.

www.cyprus-buyrent.com

Specialist for Limassol Properties,

Lemesos , Cyprus

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‘Εξοδα Αγοράς Ακινήτων

Dear Cyprus Property Buyer,

 

CYPRUS PROPERTY PURCHASE EXPENSES

  1. Stamp Duty

After the contract of sale is signed, the purchase is liable for the payment of stamp duty at 0.15% of the value up to €170.860. Thereafter, the rate becomes 0.2%. Payment is due within 30 days of signing the contract sale.

 2. Transfer Fees

Upon transfer of the property and Registration in the purchaser’s name, the district Land Registry Office will charge transfer fees, which are based on market value of the property at the time of the purchase and are calculated as follows:

 Property Value € Fees -% Transfer fee €
 Up to €85,000 3% €2,550
 €85,001-€170.000 5% €4,250
 €170,001 and up 8%

If the property is transferred in 2 or more names,  on  the name of  individuals, then the purchase value is split into the parts which results in reduced transfer fees.

The fees mentioned above are calculated per person (per share owner)

NOTE: New legislation Reducing the Cyprus Property Transfer Fees for transfers that take place before 31 December 2016  is as follows:

(a) If VAT was paid on the property, No Property Transfer Fees are payable.

(b) IF VAT was not paid on the property, the Property Transfer Fees are reduced by 50%. However if the Director of the Land Registry considers that the price stated on the contract of sale does not reflect the market value of the property at its date of purchase he may, at his discretion, charge the full Property Transfer Fees based on the market value of the property at its date of sale less the price stated on the contract of sale.

In addition, where a property is transferred from parent to child, Property Transfer Fees have been abolished. Those who have or will purchase property between December 2, 2011 and December 31, 2016 will benefit from the reduced Property Transfer Fees regardless of when the transfer takes place.

Permanent  Reduction of Property Transfer Fees

Good News for those who applied for the Title Deeds under the provisions of the ‘trapped buyers’ law and who were concerned that they would be unable to benefit from the 50 per cent reduction in their Property Transfer Fees if the transfer did not take place by 31st December 2016  ( and also everyone else waiting for their deeds).

  The Finance Ministry announced  that it has lifted the temporary arrangement to reduce Property Transfer Fees by 50 per cent, which was valid until 31st December 2016.

The 50 per cent reduction is now permanent; the law implementing the change, ‘Land and Surveys Department (Fees and Rights) (Amendment) (No. 2) Law’, was passed on 14th July 2016 at a plenary session of the Cyprus Parliament.

 

3. Value Added Tax on Property Purchases

Acquisition of a new immovable property in Cyprus is subject to VAT (Value Added Tax).  In cases of a resale immovable property as well as a new immovable property where an application for a town permit was filed before the 1st of May 2004, VAT will not be charged.

If the town planning application has been filed after the 1st of May 2004, VAT is charged on the sales price at a rate of 19%. First-time buyers can apply for VAT reimbursement in cases where they paid the full amount of VAT on single properties purchased after the 1st May 2004.

No VAT is charged on the purchase of land.

A reduced rate of VAT (5%) has been introduced for properties purchased by permanent residents of Cyprus, provided that the property will be used as the main residence of the purchaser for 10 years (minimum). This is applicable only to contracts of sale that are conducted from October 1st 2011 onwards. The rate applies for the first 200 m2 of residences of total covered area of up to 275 m2.

VAT is paid when paying a newly built property 5% for a permanent first house residence and 19% for other use ie to be rented.

NOTE:

———–

We offer to all our Visitors ,  who wish to Register with our Website,

valuable FREE  Property INSIDER TIPS , NEWS / INFO/  and UPDATES.

.

Please Go to ” Log In ” and Register as a member.

Click here to register:     www.cyprus-buyrent.com/en/register/

Thank you for visiting our website,

Solomon Kourouklides    

B.Sc.Hons.(Econ) – UK,   SCV – Senior Certified Valuer.

www.cyprus-buyrent.com

Specialist for Limassol Properties,

Lemesos , Cyprus

 

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limassol secretary

Πλήρωσε 20% λιγώτερα για τις Αποχετεύσεις

Αγαπητέ Ιδιοκτήτη Ακινήτου,

Πλήρωσε 20% λιγώτερα για τις Αποχετεύσεις,

Το Συμβούλιο Αποχετεύσεων Λεμεσού – Αμαθούντας πληροφορεί το κοινό ότι οι καταστάσεις αποχετευτικών τελών για το έτος 2018 έχουν σταλεί. Ως τελευταία ημερομηνία πληρωμής τους έχει καθοριστεί η 31η Οκτωβρίου 2018.

Μετά την ημερομηνία αυτή, το Συμβούλιο εφαρμόζοντας την Νομοθεσία θα επιβάλλει πρόσθετη επιβάρυνση ύψους 20% επί των οφειλομένων ποσών

Η πληρωμή των αποχετευτικών τελών μπορεί να γίνει:- Στα ταμεία του Συμβουλίου
– Σε όλες τις Τράπεζες και Συνεργατικά Ιδρύματα με παρουσίαση της κατάστασης λογαριασμού πριν την τελευταία ημερομηνία πληρωμής
– Μέσω της ιστοσελίδας της JCC (www.jccsmart.com) και των ηλεκτρονικών καναλιών της Τράπεζας Κύπρου και Ελληνικής Τράπεζας όπως περιγράφεται στο πίσω μέρος της σχετικής κατάστασης λογαριασμού

Για αποφυγή ταλαιπωρίας και επιβαρύνσεων, όσοι δεν πήραν λογαριασμό προτρέπονται όπως αποταθούν στο Συμβούλιο δίδοντας τα στοιχεία του ακινήτου τους στα τηλέφωνα 25881804/ 805. Περισσότερες πληροφορίες μπορείτε να βρείτε στην ιστοσελίδα του Συμβουλίου www.sbla.com.cy.

Ευχαριστώ που μας διαβάζετε,

 

NOTE:

———–

We offer to all our Visitors ,  who wish to Register with our Website,

valuable FREE  Property INSIDER TIPS , NEWS / INFO/  and UPDATES.

.

Please Go to ” Log In ” and Register as a member.

Click here to register:     www.cyprus-buyrent.com/en/register/

Thank You,

Solomon Kourouklides    

B.Sc.Hons.(Econ) – UK,  

SCV – Senior Certified Valuer 

.

www.cyprus-buyrent.com

Specialist in Limassol Properties,

Lemesos , Cyprus

 

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ΦΟΠΟΛΟΓΙΚΑ ΚΙΝΗΤΡΑ ΓΙΑ ΑΚΙΝΗΤΑ

Dear Cyprus Property BUYERS,

.

Re: Do not waste your TIME and MONEY  Searching for Property Taxes Info,

———————————————————————————————–

CYPRUS:    TAX FREE PROPERTY  Incentives for the year 2016.

News / NO BETTER TIME TO BUY PROPERTY IN CYPRUS

NEW GENEROUS TAX INCENTIVES FOR PURCHASING PROPERTY IN CYPRUS.

The Cyprus government has recently introduced new tax laws incentives to make Cyprus even more attractive for purchasing property, effectively giving investors TAX -FREE PROPERTY PROFITS until the end of 2016. The aim of the revised law is to modernize the property tax system in Cyprus and to encourage economic activity in the area of real estate.

.

NINE PROPERTY TAX INCENTIVES:

.

1.TRANSFER  FEES

  For Property transfers up until the 31st December 2016:

Zero Transfer Fees on property where VAT is applicable after 2/12/2011.

50% reduction on Transfer Fees for property with no VAT applicable.

The Parliament has approved the bill for the reduction of the property transfer fees by 50% which will apply to all property sales and registrations of leases or subleases that take place until 31 December 2016.

Moreover, the bill abolishes the transfer fees payable on transfers of property from parent to child as well as the fees payable when properties of an equal value are exchanged.

2. CAPITAL GAINS TAX

Zero capital gains tax on sale of property purchased property  between 16th July 2015 and 31st December 2016.

3. REDUCED VAT

Property purchased for first time Buyers for for the purpose of use as the primary and permanent place of residence a 5% VAT rate ( not 19%.) is applicable (on application). It is no longer required (as it was previously) to become a permanent resident first and then to apply for the special rate of 5% Cyprus Property VAT

4. THE IMMOVABLE PROPERTY TAX / REDUCTION

  • The Immovable Property Tax is being Reduced by 75  per cent  for the year 2016.
  • The Immovable Property Tax will be abolished for the year 2017

.

  1. Low Corporate Tax @ 12.5% 

 

  1. No Inheritance Tax 

 

  1. No Wealth Tax 

 

  1. No Estate Duty Tax 

 

  1. Double Tax Treaties with more than 50 Countries 
.

NOTE:

———–

We offer to all our Visitors ,  who wish to Register with our Website,

valuable FREE  Property INSIDER TIPS , NEWS / INFO/  and UPDATES.

.

Please Go to ” Log In ” and Register as a member.

Click here to register:     www.cyprus-buyrent.com/en/register/

Thank you for visiting our website,

.

Thank you,

Solomon Kourouklides    

B.Sc.Hons.(Econ) – UK,  

SCV – Senior Certified Valuer 

.

 www.cyprus-buyrent.com

Specialist in Limassol Properties,

Lemesos , Cyprus

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ΚΥΠΡΟΣ – Φόρος Ακίνητης Ιδιοκτησίας για το έτος 2016 – 2017

CYPRUS  :  Immovable Property Tax for the year 2016

 

  • 75% Discount on Immovable Property Tax for the year 2016
  • The Immovable Property Tax is being abolished for the year 2017

The Tax Department will be sending Immovable Property Tax demands for 2016 that will include significant discounts agreed by parliament earlier this year.

Taxpayers will receive in the next few days their bills for Immovable Property Tax (IPT) which will come with significant reductions.

If someone’s property has not changed since January 1, 2015 he or she will pay the same tax as last year less the generous Discounts.

  1. Settle your account by 31 October 2016 and get a 75% Discount on your Immovable Property Tax, thus paying only 25 per cent  of the total.
  2. Settle your account by November and December 2016, before the end of the year that is, and you will pay only 27. 5 per cent  of the amount,
  3. .Those who will pay after January 2017, will also get a significant discount as they will pay only 30.25 per cent  of the amount.

This is the last year the Immovable Property Tax  is being enforced . The Immovable Property Tax  is being abolished altogether in 2017.

The tax was part of the island’s bailout agreement with its international lenders.

  • As of next year 2017, property owners will only pay the municipal property tax ONLY and  NO Immovable Property Tax.

 

NOTE:

———–

We offer to all our Visitors ,  who wish to Register with our Website,

valuable FREE  Property INSIDER TIPS , NEWS / INFO/  and UPDATES.

.

Please Go to ” Log In ” and Register as a member.

Click here to register:     www.cyprus-buyrent.com/en/register/

Thank you for visiting our website,

 

 www.cyprus-buyrent.com

Specialist in Limassol Properties,

Lemesos , Cyprus

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ΚΥΠΡΟΣ- ΦΟΡΟΣ ΚΕΦΑΛΑΙΟΧΙΚΩΝ ΚΕΡΔΩΝ

Dear Cyprus Property Seller,

 

CYPRUS – CAPITAL GAINS TAX

We will advise you all the way from A to Z.

Do not worry if you don’t understand

all the complexities of Capital Gains Tax.

We will make things easy for you.

 

NOTE: Zero Capital Gains Tax on sale of property, purchased between 16th July 2015 & 31st December 2016.

If you buy property between 16th July 2015 & 31st December 2016  and later you decide to sell this property you  will not be charged capital Gains Tax , provided you are not a property trader/land dealer.

Capital gains tax is  imposed  at a fixed rate of 20% on both individuals and companies on gains arising from the disposal  (sale)  of immovable property situated in Cyprus AND sale of shares in a company not listed on a recognized Stock Exchange, which owns immovable property in Cyprus . Therefore the important factor is the location of the property and not the residency of the owner.

The capital gain is calculated after deducting from the sales proceeds the original cost and any additional expenditure, adjusted for inflation, and any allowable expenses directly related to the disposal of the building such as interest on loan and advertising.

It should be noted that if the property is purchased prior to 1980, the cost used in the calculation is the market value of the asset as at 1.1.1980.

Residents of Cyprus

Residents of Cyprus are liable to Capital Gains Tax on all disposals irrespective of where the property is situated.

Cypriots Residing Abroad & Expatriates Residing in Cyprus

However, disposal of property held abroad by a Cypriot who acquired the property whilst residing abroad and also an expatriate residing in Cyprus who has property abroad, is exempt from Capital Gains Tax.

 

Non-residents of Cyprus

Non-residents are liable to Capital Gains Tax only on disposals of property situated in Cyprus.

However, there is an exemption from Capital Gains Tax for Cyprus Property which was acquired between 1 August 1980 and 13 July 1990 with foreign exchange imported in Cyprus.

Exemptions from Capital Gains Tax

The following disposals of immovable property are not subject to Capital Gains Tax:

 

  1. Transfer arising on death
  1. Gift made from parent to child or between husband and wife or between up to third degree relatives
  1. Gift to a company where the company’s shareholders are members of the donor’s family and the shareholders continue to be members of that family for five years after the day of the transfer.
  1. Gift by a family company to its shareholders. The property must be kept by the donee for at least three years.
  1. Gift to charities and the Government.
  2. Exchange or disposal of immovable property under the Agricultural Land (Consolidation) Laws.
  1. Any other disposal.

(The above exemptions are given once and not for every disposal.  An individual claiming a combination of the above is only allowed a maximum exemption of €85.430

  1. Exchange of properties, provided that the whole of the gain made on the exchange has been used to acquire the other property (rollover relief). The gain that is not taxable is deducted from the cost of the new property.

 

 Determination of Capital Gain

 

In determining the capital gain, the cost of acquisition or the market value as at 1 January 1980, whichever is the highest, plus an indexation allowance (which is based on the official Retail Price Index) is deducted from the sale proceeds.

        Simple  Example            
Sale price at 31 December 1993     90.000
 Cost of acquisition at 1 January 1983    (60.000)
Indexation allowance 1 January
1983 to 31 December 1993
€30.000 @ 60,02 per cent    (18,006)
Net Capital Gains     11.994
 Capital Gains Payable at 20%      2,399

 

Life Time Exemptions for Individuals

Individuals can deduct from the capital gain Life Time Exemptions .

These exemptions apply only for individual (not for legal person) and are used for reducing / eliminating the taxable gain. The life time exemption is given once in the life time of an individual and the max amount provided, subject to conditions, is €85.430.

The life time exemptions are as follows:

  • Gains from any kind of disposal: €17.086
  • Agricultural land (if main occupation is agriculture i.e. farmer): €25.629
  • Disposal of principal private resident €85.430. To be eligible for this exemption:
  1. The house should be used by the owner exclusively for his own habitation for at least 5 years (10 years if second time)
  2. The period of use does not necessarily have to be continuous. It may be interrupted as it may happen for example during an absence overseas
  3. Use of the resident means use by the owner
  4. Situated in land not exceeding 1.500 sq.mts
  5. Where the residence is situated on land exceeding 1.500 sq.mts, tax is payable on the proportion of the gain accruing from the disposal of the land in excess of the 1.500 sq. mts
  6. No exemption is allowed where disposed in more than 1 year after it has ceased to be used by the owner

 

Other Exemptions

  • Gift between relatives up to third degree of kindred
  • Transfer by reason of death
  • Gifts made for educational or charitable purposes to a local authority or to any approved charitable institutions in the Republic
  • Gift to a company where the company’s shareholders are members of the donor’s family and the shareholders continue to be members of that family for five years after the day of the transfer.
  • Gift by a family company, where all of its shareholders are members of the same family, to its shareholders provided the property was originally acquired by way of a gift. The property must be kept by the donee for at least three years.

Trading transaction  OR   Capital Gains Transaction ?

These are criteria used to determine whether an isolated transaction should be treated as a trading transaction and therefore taxed under income tax or as a capital transaction.

The 10 factors that should be considered in deciding whether a transaction is a trading one are:

  • The subject matter of the transaction
  • The Length of ownership
  • The Frequency of similar transactions
  • The Supplementary work
  • The Circumstances responsible for sale
  • The Motive
  • The Method of financing the cost
  • The Knowledge of the owner
  • The Method of acquisition
  • What happens with the sale proceeds

NOTE:

———–

We offer to all our Visitors ,  who wish to Register with our Website,

valuable FREE  Property INSIDER TIPS , NEWS / INFO/  and UPDATES.

.

Please Go to ” Log In ” and Register as a member.

Click here to register:     www.cyprus-buyrent.com/en/register/

Thank you for visiting our website,

 www.cyprus-buyrent.com

Specialist for Limassol Properties,

Lemesos , Cyprus

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