With European tax havens coming under scrutiny following Cyprus’ demise as a shelter, real estate investors need to ensure that deals are priced to account for the impact of tax, Damian Harrington writes in a guest column in the May issue of PropertyEU Magazine.
With European tax havens coming under scrutiny following Cyprus’ demise as a shelter, real estate investors need to ensure that deals are priced to account for the impact of tax, Damian Harrington writes in a guest column in the May issue of PropertyEU Magazine.
With European tax havens coming under scrutiny following Cyprus’ demise as a shelter, real estate investors need to ensure that deals are priced to account for the impact of tax, Damian Harrington writes in a guest column in the May issue of PropertyEU Magazine.
Following the €10 bn bailout deal with the European Union and the International Monetary Fund, Cyprus has seen the introduction of capital controls. This creates a very difficult position for Cyprus, its residents and economy as tourism and retirement planning will be impacted negatively and banking capacity will be severely restricted.
In this article, Harrington discusses the wider ramifications for the real estate sector, especially given the large number of Special Purpose Vehicles and companies established in Cyprus to hold and manage real estate located in Eastern Europe.
You can read the full article by clicking on the following link: Cyprus demise puts spotlight on tax havens (PDF)
