Paphos People :: View topic - Shoot me down gently !!

We are going to give it a year as we can get by without an income and see how it goes !

Quote:

We are going to give it a year as we can get by without an income and see how it goes !

I for one am a little non-plussed by your strategy.

Have you any idea how long it takes to sell a property in Cyprus, even with Title Deeds?

Why did you not simply rent until you decided if you wished to stay, or is your purchase viewed as a long-term investment?

I won't shoot you down, but three things come to mind.

Firstly, within 3 months of arriving you have to apply for a residency certificate if you plan to stay for longer than that. If you can't prove sufficient income, guarantee of employment, or very considerable savings, you won't get it.

Secondly, if you are making money from the activities you describe, you must pay social fund payments (similar to National Insurance).

There will be people on here that will say "don't bother", but there are fines for both omissions.

Thirdly, in the situation you describe, you won't get a medical card. This means you have to take up medical insurance, as taking a chance is just plain daft, and you will need insurance to get the residency certificate.

So how did you get on ? Did you manage to crack this nut ?

Popsicle65 wrote:

So how did you get on ? Did you manage to crack this nut ?

This post you are replying to is nearly 18 months old :grin:

Author:	Corrado [ Wed Feb 03, 2016 7:42 pm ]
Post subject:	Shoot me down gently !!
We have been making plans to move to Cyprus for a year now , we purchased a property in Coral Bay Area and moved possessions out and a car . We are now waiting for my wife's contract at work to end ( she has a proper job ! ) I meanwhile have been treading water until we get the news ! Hopefully at the latest we will be over by June . We are not quite at retirement age yet so as my main trade is the sales and repair of garden machinery I am going to send over some new and secondhand machines and some spares and accessories . Things like chainsaws hedgecutters , chains for chainsaws etc . Also I hope to find other things to do in general maintenance , I have also sent over 3 cars to sell but they are in Larnaca at moment as a friend of mine moved there 4 years ago and he is selling them . I have other ideas but in the early stages . If anyone wants to shoot me down please be gentle !!!!!!!! We are going to give it a year as we can get by without an income and see how it goes ! If all fails I am not going back to UK it is Freezing Here !!

Author:	toonarmy9752 [ Thu Feb 04, 2016 8:51 am ]
Post subject:	Re: Shoot me down gently !!
Good luck

Author:	Topgun [ Thu Feb 04, 2016 10:23 am ]
Post subject:	Re: Shoot me down gently !!
Quote: We are going to give it a year as we can get by without an income and see how it goes ! I for one am a little non-plussed by your strategy. Have you any idea how long it takes to sell a property in Cyprus, even with Title Deeds? Why did you not simply rent until you decided if you wished to stay, or is your purchase viewed as a long-term investment?

Author:	Josef K [ Thu Feb 04, 2016 5:30 pm ]
Post subject:	Re: Shoot me down gently !!
I won't shoot you down, but three things come to mind. Firstly, within 3 months of arriving you have to apply for a residency certificate if you plan to stay for longer than that. If you can't prove sufficient income, guarantee of employment, or very considerable savings, you won't get it. Secondly, if you are making money from the activities you describe, you must pay social fund payments (similar to National Insurance). There will be people on here that will say "don't bother", but there are fines for both omissions. Thirdly, in the situation you describe, you won't get a medical card. This means you have to take up medical insurance, as taking a chance is just plain daft, and you will need insurance to get the residency certificate.

Author:	Corrado [ Fri Feb 05, 2016 12:09 am ]
Post subject:	Re: Shoot me down gently !!
Topgun wrote: Quote: We are going to give it a year as we can get by without an income and see how it goes ! I for one am a little non-plussed by your strategy. Have you any idea how long it takes to sell a property in Cyprus, even with Title Deeds? Why did you not simply rent until you decided if you wished to stay, or is your purchase viewed as a long-term investment? You are right ! Probably not much of a strategy ! We looked at property's for at least a year and watched the market , you are right that it can take ages or years to sell a villa , in our road 4 villas sold very quickly ( once they put them on with agent and a good price ) . We are happy with price we paid ( and as luck would have it we got an exchange rate of 1.398 ) and if things don't work out we can rent it out for holiday lets or sell at a reduced price or just return to uk and wait while it sells . I think we thought if we don't do it now we would hate to visit Cyprus in 10 years time and see the the villa at a lot higher price . ( could go down ). I don't know how long you have been in Cyprus but I have been in North London for 56 years and to be quite honest I am sick of it so I suppose I am just hoping to escape !! If this move doesn't go to plan we won't be going to North London but will go to Linconshire . And the bottom line is " I never said I was clever". Thanks for your message I took it on the chin and it made me smile. See you soon !

Paphos People https://www.paphospeople.com/ppforum/

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Author:	Corrado [ Fri Feb 05, 2016 12:13 am ]
Post subject:	Re: Shoot me down gently !!
Josef K wrote: I won't shoot you down, but three things come to mind. Firstly, within 3 months of arriving you have to apply for a residency certificate if you plan to stay for longer than that. If you can't prove sufficient income, guarantee of employment, or very considerable savings, you won't get it. Secondly, if you are making money from the activities you describe, you must pay social fund payments (similar to National Insurance). There will be people on here that will say "don't bother", but there are fines for both omissions. Thirdly, in the situation you describe, you won't get a medical card. This means you have to take up medical insurance, as taking a chance is just plain daft, and you will need insurance to get the residency certificate. Thanks for your message , I have taken on board your comments , we can prove an income from UK and I do want to set up a proper business and pay tax etc in Cyprus . I hadn't researched health insurance but I will start tomorrow . Once again thanks for the points raised and I will make some enquiries ASAP Hope to be over soon.

Author:	Popsicle65 [ Mon Jul 17, 2017 8:15 am ]
Post subject:	Re: Shoot me down gently !!
So how did you get on ? Did you manage to crack this nut ?

Author:	M.A.D [ Mon Jul 17, 2017 9:32 am ]
Post subject:	Re: Shoot me down gently !!
Popsicle65 wrote: So how did you get on ? Did you manage to crack this nut ? This post you are replying to is nearly 18 months old

Author:	Neil [ Mon Jul 17, 2017 12:16 pm ]
Post subject:	Re: Shoot me down gently !!
M.A.D wrote: Popsicle65 wrote: So how did you get on ? Did you manage to crack this nut ? This post you are replying to is nearly 18 months old Its a bit like one of those TV shows ,,, go back a year later and find out how they got on.. be good if they see this post and tell us ...

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