Our extensive knowledge and network of professionals will ensure that you receive the best advice as well as help to maximise your buying power. Here is just a short guide to taxation facts and figures. We can help point you in the right direction if you have any specific queries

Income Tax: Cyprus rate is a maximum of 30%. In Spain the rate is up to 48%. In comparison the UK tax rate is generally between 32-40% and the French rates are slightly less.

Pension Tax: Pensions can be paid gross to residents of Cyprus and then taxed at the local rate of 5%, subject to an exemption allowance of the first CYP£2,000 pa. In comparison, the UK tax rate is generally between 20-40%.

Corporation Tax: Cyprus rate is 10%. In Ireland 12.5%. In the UK the tax rate is generally 20-30% after an exemption of £10,000. In France the rate is 33%.

Capital Gains Tax: In Cyprus the rate is 20%. There is a tax free allowance on the first CYP£10,000 for each person, plus inflation indexation, and legal fees, cost of any improvements and interest paid. In the event that the property was a primary residence for the period of five years the tax free allowance is the first CYP£50,000.The UK tax rate is generally 40% after an exemption of £8,200. In Spain the rate is linked to income tax. Similarly in Portugal, except it is only applicable to half the taxable gain. In France the CGT rate is between 16-40%.

Inheritance Tax: This tax was abolished in Cyprus on 1 January 2001, whereas the rate in the UK is 40% after an exemption of £283,000. In Spain the rate is between 5-34%, In Portugal the rate varies from 14% to 24%.

VAT: Currently 15% and applicable only to the purchase price of some new residences.There is currently no VAT applicable to residential property in the UK.

Stamp Duty: 0.15% up to CYP£100,000 of value (i.e. £1.50 per every £1000) and then plus 0.2% for values in excess of this amount. This duty must be paid within 30 days of signing the purchase contract otherwise substantial fines might be imposed. The UK rate is 3% or more on house values in excess of £250,000 but likely to increase. In Spain the rate is up to 6%. In Portugal the rate is between 5-8%.

Transfer Fees: 3-8% of the purchase price payable to the government when the Title Deeds are issued by the Land Registry Office. This is in effect an additional Stamp Duty charge.

Council charge: (Equivalent to UK Council Tax.) Negligible, CYP£80-150 per annum For roads, lighting, road maintainance and refuse collection.

Please take these statistics as a very broad guide and seek professional advice at all times on your own particular situation.