Cyprus-Forum.com

[bakala]

Thanks for the latest info mate

the loophole is
off the shelf company Gibraltar : purchase cost £600
running cost per year£200
Assests one vill in Cyprus
directors
me
Wife
Kids 4
The directors of the company are also nominated as the trustees of my pension fund, this prevents interferance from the pensions fund managers who would normaly ( rob ) administer my fund

the directors of the company own the assets ( one Villa )
if a diector dies the assets are distributed among surviving directors
provided none of the directors live in Gibraltar the company does not pay Gibraltar tax none residents are excluded from tax
so the pension fund contributions are in fact invested in a foriegn company. they cannot stop anyone doing this because a large volume of the pensions funds are tied up at present in long term contracts in foreign companies under indeminty Gaurantee,
in other words if the Government stop you as an individual investing your pension in a foreign company they would also have to stop pension fund managers doing it too,
Hong Kong runs on foriegn investment its, a giant stock market with no mineral wealth or manufacturing capability
huge chunks of pension fund cash is invested in the hong kong markets Daily.
Like i said before mate if we are forced into playing a game where cheating is allowed we have no option but to cheat better than they do
all this is perfectly legal
after all Robert Maxwell did it

[michalis5354]

I totally agree with svetlana. Cyprus is a small island and therefore the land and properties are limited. The size of the property market in Cyprus is not the same as in UK , Australia or US.Therefore i dont expect the prises of properties to fall. On the other hand I expect them to rise for the reasons I stated earlier. There is also foreign demand to acquire properties in Cyprus. Furtermore you still have the alternative to rent your property and earning a fixed montly income.

[rawk]

Like your style bakala!

rawk

[Piratis]

Code: Select all

its like a game of cards where cheating is allowed
whoever cheats best wins most.
buying property is no different north or south of the border

Buying property owned by Greek Cypriot in the occupied areas of Cyprus is a crime. If you think that you can win the most by cheating all of us then think again, because what you are about to do is a cheat that is illegal and therefore not allowed.

[rawk]

Hi Piratis

I don't think bakala was suggesting buying property in the occupied north, I believe he was refering to foreign purchases boosting property prices in the ROC under pension rules in the UK and ways to get around the problems of using a pension plan to buy a holiday home with the help of the Taxman.

Regards

[Tuberider]

I totally agree with svetlana. Cyprus is a small island and therefore the land and properties are limited. The size of the property market in Cyprus is not the same as in UK , Australia or US.Therefore i dont expect the prises of properties to fall. On the other hand I expect them to rise for the reasons I stated earlier. There is also foreign demand to acquire properties in Cyprus. Furtermore you still have the alternative to rent your property and earning a fixed montly income.

The 'land and properties' as you say are limited resources ANYWHERE in the world, simply because they are not making them anymore ! Property in London is also limited, yet they suffered two property crashes in less than twenty years. And they were both very very bad.

I think you may be suffering from a touch of 'Cyprus is the centre of the universe' syndrome that so many people here seem to be impaired with.

But if you want to compare, then let us do so.

Japan is also a small island, highly overcrowded and overdeveloped - much like Cyprus. Unlike Cyprus, it is one of the three biggest economies in the world, along with Germany and the USA.

Yet property prices there STILL dropped by up to 90% (yes, ninety percent !) during the crash in the late 90's.

Japan is the world leader in innovation and technology. They have a highly developed economy consisting of (among other things) extensive heavy and light manufacturing, a huge financial services sector, tourism, shipping and commodoties. Yet they still saw their property market wiped out due to oversupply and overspeculation.

So what does Cyprus have that Japan has not ?

What do we have that makes us so immune to a property crash, that Japan did not ?

Interested to hear your views.

[pumpernickle]

Tuberider, serious point now, and I rarely do these...

But it is refreshing to read your posts, and I am delighted to see what you have to say. I think your views are well researched and informative and balanced, and make a sh1t load of sense in what seems to be a very topsy turvy world out here in Cyprus.

Keep it up, I'm following what your saying.

regards

Pumpy.

[michalis5354]

I think you may be suffering from a touch of 'Cyprus is the centre of the universe' syndrome that so many people here seem to be impaired with.

But if you want to compare, then let us do so.

Japan is also a small island, highly overcrowded and overdeveloped - much like Cyprus. Unlike Cyprus, it is one of the three biggest economies in the world, along with Germany and the USA.

Yet property prices there STILL dropped by up to 90% (yes, ninety percent !) during the crash in the late 90's..

I dont think I am suffering from any syndrome. Cypriots properties have not reached the Japans and UKs Level yet. How much does 1 bedroom apt cost in Japan ? and how much does it cost in London? The fact that there has been a crash in these markets it is simply because the value of the properties there have risen beyond their fair value.

I bought 1 bedroom apt in Nicosia 5 years ago for the price of 27,000pounds and now the value has gone up to 50,000 . Yet I dont expect the value of my apartment to fall as this reflects the fair value given the fact that materials , labour and other costs have risen during this period and due to some other external factors associated with Cy entrance in EU.

Now If we assume that there is going to be a crash here in Cy then how much should we expect the price of an apt to be 30, 000? When in other EU countries comparable to Cy are at a higher range ?

[rawk]

Hi

Some investors believe the ROC is a good bet for investment. The hot money (ie. speculate to profit) is going into eastern Europe but the retirement money is heading south, Have a look at the link below: -

http://www.propertysecrets.net/category ... rty/6.html

rawk

[Sotos]

Everybody got scared because of the stock market I think. I hear about a "property crash" for ages. It never happened. I don't think it is going to happen any time soon.