Cyprus Title Deeds CYPRUS MINISTER EXPECTED TO BE HERO IN 2010 ADVISE LAWYERS IN CYPRUS
9:37 amin Cyprus Lawyers, Cyprus Title Deeds admin Comments Off
Cyprus Lawyers – review – Cyprus Title Deeds
Cyprus Minister Mr Sylikiotis is expected to be a big hero in 2010. Can he be? The 5 Legislations to be implemented in the very near future will quicken the Title Deeds procedure and will help many thousands of property investors in Cyprus to obtain their Title Deeds. In the process it will also gain as estimated €150 million plus, for the government in 2010 alone.
Each Title Deed issued is liable for Transfers Tax Fees and it is expected that 20,000 applications will be processed and issued in 2010 and the same for 2011 and therefore the budget is looking very good for the future of Cyprus.
The new Legislations are expected to be officially passed by no later than March as the Minister has hurried this through. The Minister is very confident there will be no problems at all with the Legislations being passed.
In some recent polls taken by Cyprus Property Purchasers, the indication was that a high percentage of purchasers have been waiting up to 20 years for their Title Deeds, some ten years some five. This is about to change and with 3 different Title Deeds expected to be issued the process will definitely be a great deal speedier and more efficient.
Many people have lost confidence in Cyprus but over the next 1-2 years those who didn’t invest in Cyprus will sadly have missed out. Cyprus is on the move and major things are happening and we do believe and really hope that Cyprus Minister Mr Sylikiotis will definitely be a hero to many in 2010 and especially for the sake of all investors purchasing property in Cyprus.
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PUBLISHED BY A&G KOUZALI LAW OFFICE ON 26th JANUARY 2010.