DT. wrote:DT. wrote:Mr. T wrote:DT. wrote:Mr. T wrote:So what is to stop anybody living in Northern Cyprus from setting up a limited liability company there then transferring the property to the company?.
Shareholders and companies are seperate legal entities and it would not matter one jot whether the shareholder had assets in the EU.
Food for thought.
The ownership is not at question here...we know who the owners are they are GC's.
The penalties the court will dish out are for the usage of the property....
Try Again!
No need.
A GC court could not force a TC registered company to either demolish the property or return it to a GC.
Penalties for being a tenant in a property? Hardly likely to worry the person transferring the property.
Perhaps I should suggest this as a course of action on a North Cyprus website!!
What don't you get?
If someone is found living on a piece of property that was built on GC land then he will be forced to pay penalties for the USE of the land and not for the "ownership" since "trnc ownership" is not recognised.
You can sign up the properties on a company registered in Kuala Lumpur if you like, if you're using the property you're liable.
What am i doing?
Dude you're right, thats the way out of this!
Sorry DT. I didn't see this posting as I was was typing my previous comment.