Cyprus-Forum.com

[Mr. T]

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.

[DT.]

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!

[Oracle]

That's fraud ... and incurs worse penalties

Illegally setting up companies with stolen goods ... can't be done now as everyone knows you are guilty of theft!

[kafenes]

It's not just property but all assets. Even inheritance is also classed as an asset.

[Mr. T]

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!!

[Mr. T]

It's not just property but all assets. Even inheritance is also classed as an asset.

May I respectfully suggest that you read the original post again.

[DT.]

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.

[DT.]

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!

[Mr. T]

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.

I understand it all and I guess you do too but just in case you don't wish to admit to yourself let me state it really simply for you.

The person living in the property may, at present, face having to
(a) demolish the property
(b) hand the property to a GC
(c) pay a penalty for the use of the land

Nobody in their right mind could possibly think that the person would not be pleased to remove the possibility of the first two actions which make the third pale into insignificance.

[DT.]

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.

I understand it all and I guess you do too but just in case you don't wish to admit to yourself let me state it really simply for you.

The person living in the property may, at present, face having to
(a) demolish the property
(b) hand the property to a GC
(c) pay a penalty for the use of the land

Nobody in their right mind could possibly think that the person would not be pleased to remove the possibility of the first two actions which make the third pale into insignificance.

As I said, its a great idea. You need to post it on as many forums and websites as possible.

start here www.cyprus44.com