We help you make your overseas dreams a reality.
INTERNATIONAL
LEGAL SERVICES
INTERNATIONAL LEGAL SERVICES
If you have aspirations of living in sunnier climates and want to downsize, sell up, release equity or re-mortgage to make that dream a reality then we can help. Making sure that you receive good, independent legal advice when buying or selling a property is one of the most important parts of the process. Our team of legal professionals specialise in every aspect of property law and we can help make the process as seamless as possible. Through our UK team of qualified solicitors and conveyancers we can handle every aspect of your UK owned assets, and through our international contacts and partnerships we can help by putting you in touch with English speaking, local property solicitors, on the ground in your country of choice.
OVERSEAS LIVING
Many people dream of having a home overseas, there are an estimated half a million UK citizens who own second homes in another European country. Brexit however, has made the process of living abroad that little bit harder. UK nationals are just as free to buy and own property in an EU country today as they were before Brexit and this will continue indefinitely. Ownership and property laws are sovereign laws set by individual countries and are not governed by EU regulation. However, property ownership does not give you automatic entitlement to residency. UK nationals looking to relocate permanently to an EU country after 1 January 2021 will be subject to the immigration rules of that country and can no longer exercise free movement.
Prospective UK buyers who want to live abroad that are non-EU citizens are permitted to apply for a Golden Visa residency permit (from 1 January 2021.) Initiatives like these are currently being offered by countries such as Greece, Cyprus, Portugal, Spain, and Malta. The visa also enables non-EU nationals to travel within the Schengen area which consists of 26 EU member state, for a maximum of 90 days in any 180-day period. The Golden Visa scheme can provide a route from temporary residency to permanent residency and ultimately citizenship.
Despite the added complications since Brexit, thousands of families are still taking the leap and downsizing their UK assets and taking advantage of the sunnier climates, cheaper properties, and better standard of living. If you are thinking of joining them, make sure you do your research, as well as employing independent and high-quality legal advice.
Here at quickly convey, we can help you with your UK transactions, buying, selling, or re-mortgaging as well as your international transactions through our network of European legal partners.
FREQUENTLY ASKED QUESTIONS
Is buying property abroad a good idea?
Buying a property abroad could be a good investment for the long term, especially if foreign property is more affordable than at home. However, before making such decisions, it's best to go on a scouting trip to check out any property, and the surrounding area.
Do you pay tax on property abroad?
Most countries will tax foreigners on any property they own in the country. Local taxes often apply to property purchases and sales and to rental income. Furthermore, you will often have to pay annual taxes on foreign property, even if you do not rent it out, and many countries also have gift and death taxes.
Why do people buy abroad?
Cost-savings are one of the main advantages of global sourcing. Many foreign suppliers and manufacturers offer their services at a competitive price, especially in low-cost regions. Manufacturing costs are generally lower and businesses can often buy goods at a lower unit price.
Do I pay stamp duty HERE IN THE UK?
If you are buying an additional property or are buying a home and may end up owning two properties, even just temporarily, you have to pay extra stamp duty. ... You have to pay the extra rate even if the property you already own is abroad. It also applies if you only own a share in a property.
Do you have to declare property?
HM Revenue and Customs (HMRC) is urging UK taxpayers to come forward and declare any foreign income or profits on offshore assets to avoid higher tax penalties. However, some UK taxpayers may not realise they have a requirement to declare their overseas financial interests.
wHERE'S THE CHEAPEST PLACE TO BUY?
The cheapest countries to buy a holiday home abroad are typically Bulgaria, Turkey, Greece and Cyprus. These European destinations have been revealed as top value spots for bargain-hunting Britons topping the rankings. At the time of writing Bulgaria is said to be the most affordable country to buy in.
BUYING PROPERTY IN CYPRUS
Enjoying 340 days of sunshine a year and being one of the closest winter sun destinations to the UK, it’s easy to see why Cyprus remains one of the most popular locations for British property buyers. If you are looking to purchase a property in Cyprus, Quickly Convey have built up a network of trusted experts who will provide you with guidance on all aspects of buying property in and moving to Cyprus. Contact us now and we can connect you to English-speaking Estate Agents and property lawyers in Cyprus who can assist you with your property search and purchase. Contact us now for FREE.
Our continued presence in both the UK and Cyprus provides you with ample opportunity to meet us face-to-face at your convenience in either country. Whether you are at home, on holiday or planning your next move, we are here to help.
CAN FOREIGNERS BUY PROPERTY
IN CYPRUS?
Foreigners can purchase property in Cyprus. In fact, it’s actually easier to do so in Cyprus when compared with many European countries. There are no restrictions for EU citizens to purchase property in Cyprus. It’s still possible, for UK Nationals but since leaving the EU, the rules have slightly changed. UK nationals can buy one property in Cyprus and are they are allowed to hold the freehold. The property can be either an apartment, house, villa on a building site or plot of land limited to no more than 4,014 sq. m.
The purchase of a second property (for example as a holiday home) may be permitted in some instances. You should be aware however that following Brexit, UK nationals wanting to purchase property in Cyprus can only stay for a total of 90 days in any 180 day period. If you would like to stay for longer then you’ll need to apply for a visa.
The process for purchasing property in Cyprus is different now for buyers post-Brexit. You now need to apply to the Council of Ministers for permission to purchase a property. The title deeds will not be passed to you until permission is granted. Although this is only a formality and very unlikely that your application will be refused, a clause should be added to the contract specifying what should happen if permission is refused. It is worth noting that the application can take several months to a year to finalise.
CONTACT
QUICKLY CONVEY
HVS Business Services Ltd T/A Quickly Convey (No. 1950143), registered in England & Wales. Registered office 50a Clifford Way, Maidstone, ME16 8GD.
OUR OFFICE ARE NATIONWIDE
*BY APPOINTMENT ONLY*
HEAD OFFICE - LONDON
Taylor Rose MW
58 Borough High Street
London SE1 1XF
HEAD OFFICE - KENT
Suite FB2 The Old Library
St Faith's Street
Maidstone ME14 1LH
Email: info@quicklyconvey.co.uk
Tel: 020 3551 8446
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