On top of the essential areas covering agent, legal, surveyor and currency exchange, the following areas may also be required.
If finance is required to support your investment, again we can provide guidance in this area. In certain circumstances, a mortgage in some countries has advantages from an income and inheritance tax perspective.
We can provide a host of property management services whatever your objectives from renting out your property, maintaining the property whilst you are away to providing a full marketing, rental and maintenance programme for those looking for a hassle-free investment.
As an added value for those purchasing property in Cyprus via Escape to the Sun, we provide a free property management service for the first year.
Property Tax Advice
There are a host of tax implications from an income, capital and inheritance tax perspective that need to be considered when investing overseas. Again, depending on your personal circumstances, we can provide support in this area via professional financial advisers that are experts in your particular market.
You will likely need to register locally from a tax, banking, utility services, council and medical purposes.
Again, we can help in these areas to ensure a seamless sale conversion.
A common mistake is not to give the ownership structure of the property any thought such that by the time the purchase is completed, it is too late to address. Buying overseas property can lead to domestic and overseas inheritance tax issues along with regulations on how assets are distributed on death. A local will is recommended along with some forethought as to how you would like the property to be managed.
Other common areas that require some support include:-
- Translation Services
- Insurance in respect of travel, medical and property
- International removals and emigration