Questions to ask before purchasing property in Cyprus.
* Are you dealing with the rightful owner of the property? * Does the property have clear title? * Are there any restrictions on renting out the property in your absence? * Are there death duties? * Is the off-plan development bank guaranteed / bonded / insured if the project goes bankrupt? * What is the position of Capital Gains Tax? * What about wills? * In the case of retirement, are home country pensions transferable? * Is there a double taxation treaty? * Have you contacted the embassy for residency / immigration rules? * Under what circumstance, if any, will your deposit be refunded? * Is there a cooling off period? * Have you taken professional financial and tax advice? * Is your legal representative fluent in both Greek and English? Cautionary note: Each country has its own rules in the way it handles foreign purchase of its properties.Please seek independent legal advice before purchasing any property. |
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Questions to ask |