Hello there – and how are you?

I'm okay...seems like summer is going too fast, but when I reflect on life in general things seem to be speeding up. Not too much to report regarding me in general - I've been playing my golf every Sunday along with doing my workouts at the gym. Last week I went to see the movie, 'The Hangover,' which was interesting and this Friday I'm borrowing a kid so that I can watch the latest Harry Potter movie - should be good!

Anyway...I recently wrote a mini guide about UK pensions that I want to mention before getting on about Cyprus...The guide is about what can be done about increasing the income one gets, eliminating or reducing the tax one pays and effectively ensuring that beneficiaries get ALL of the funds upon death rather than just a percentage (plus more...)

To get my new guide (at no cost), please send a blank email to the following address and you'll immediately get a return email with the report: kim32-443706@autocontactor.com. Anyone that has moved abroad or is thinking about moving should definitely read this report (please note that when I tested this out, the email went into my junk folder, so if you don't get a response from me within 5 minutes, check your spam or junk folder).

On to Cyprus...I just got off the phone with Jackie (in Cyprus) and she was commenting on how incredible the helicopters are that work to put out wild fires. She's not in any danger, however the fires are quite close to where she lives...and she's amazed at the skill of the pilots! Let's hope the fires are out soon...

Jackie explained to me that the Cyprus government is finally working on ways to stimulate the Cyprus property market. From Wednesday (just gone past), any non-eu citizen who purchases a property over 300,000 euros does not have to go through the lengthy immigration process.  The Government will offer permanent residency without having to go through all the usual paperwork - which can takes years and involves bonding huge sums of money at the bank which the purchaser cannot touch until a visa is granted.  So that's good news...

What else? Jackie informed me of the following...

Well..There is no doubt that Cyprus, small though it may be, is definitely part of the world around us, and a valued member of the EU community. The West End show "Cats" made its appearance in July at the Larnaca Pattichion Municipal Amphitheatre - amazingly, this involves transporting the entire cast in London to Larnaka! Michael Flatley's Lord of the Dance was also performed …you could hardly do better in the UK!

Then, the Republic of Cyprus, which joined the EU in May 2004, will assume the EU Presidency for the first time in its history, in the second half of 2012.There will be a special exhibition on the "Aphrodite of Cyprus" in the Louvre Museum in Paris in 2012 to celebrate this important event – how stunning is that?

On to the less attractive elements of today’s world: elementary school pupils on Cyprus are being offered free fruit and vegetables at school under an EU initiative intended to improve children's health and tackle obesity...this seems to be a worldwide problem now, doesn’t it?

That being said...on to the rest of my newsletter and it’s quite a varied one this month. Firstly, something the Brits may not know much about – taking care of ourselves in the sun! Then – believe it or not, I talk about how YOU may be able to get a tax rebate! I provide you with a case study on how a property buyer saved himself a bunch of money using a currency company and I give you some really good news about new bus services from the Cypriot airports. More about that essential subject, the Cyprus drains, I share really great news about my favourite travel website and that’s about it for another month!

Kind regards,

Kim

Cyprus Buying Guide
The Overseas Guides Company
Kim@CyprusBuyingGuide.com

Surviving the sun…something we Brits may need to learn!

Here is an article that Jackie, who is lucky enough to live in Cyprus year round, sent me. I thought you might find it useful.

It’s certainly hotting up in Cyprus, after the longest winter for 20 years! January was shirt-sleeve weather, February and March were traditionally chilly, then April followed like nothing every seen before. Wind, rain, storms, lighting, thunder, floods you name it, we had it. It almost felt like being back in the UK again!

Thankfully though, we are now “back to normal”. Our “winters” last about 10-12 weeks usually, and where I live in Tala, Paphos, the temperature rarely drops below 5 degrees in the evenings during this period. Daytimes are wonderful, beautiful sunshine and you can still sunbathe. You can even ski in The Troodos Mountains in the morning, and go to the beach in the afternoon – we are very lucky, there aren’t many places in the world where you can do this!

OK, so back to surviving the sun. If you are coming to Cyprus on holiday, you need to take all the usual precautions – drink plenty of fluids, use high factor sunscreen, wear hats, etc. Never underestimate the power of the sun on this island – and take even more care if there is a breeze. So many tourists arrive here with very white skins, and by the end of day one they look like beetroots, are in agony and their holiday is ruined. I see this all the time and it can so easily be avoided by taking it easy and slowly, slowly, building up that all important tan. It’ll last longer too!

Those of us who are lucky enough to live here are very careful. We keep out of the sun between 11am and 3pm when it is at its most powerful and stay in the shade. It’s the time when most people who live here have a siesta. There’s nothing quite like having a peaceful snooze in your hammock under the grapevine with a gentle breeze blowing – absolute heaven!

Moving on, one of the most common problems in the summer is suffering from dehydration. The problem is you often don’t know about it until it’s too late. I suffer from this myself, and in the summer if I feel a headache coming on, am tired and not eating very much, I know what’s happened. This even occurs sometimes when I am drinking 2/3 litres of water a day. The solution is to take rehydration sachets as quickly as possible. I’m always amazed at how much better I feel about an hour after having one - they really work. You can buy several types. The product I find works best for me is “Dioralyte” but your Pharmacist or doctor will advise the best for you. If you are like me, often these preparations taste quite revolting, but this brand has several flavours, and I can highly recommend the blackcurrant version. I believe this is also available in the UK.

High factor sun cream is essential at all times; this not only gives the protection you need but also keeps your skin moisturised. And you need a hat – wide-brimmed, which covers the back of your neck. It may sound crazy, but I even wear my hat in the swimming pool! Even though you are underwater, your head and neck usually aren’t and they will burn. It’s all common sense really, but most people learn the hard way – me being one of them, which is why I am giving out all the advice! You can also use an umbrella to shade yourself when you are walking around, plenty of people do.

Although it’s nothing to do with coping with the sun, you might also like to know about a brilliant insect bite cream we have over here. It’s called “Histergan” and stops itching and swelling almost immediately. You can buy it in any Pharmacy. Personally, I find this so much better than “bite pens” which sting as soon as the liquid touches your skin!

Well, that’s it from a very hot and sunny Cyprus – how lucky we are to have beautiful blue skies almost every day. No wonder everyone here has the “feel good factor”!

Hope to see you soon on our beautiful island.

If you need any help to get your very own property you have just to phone 0207 898 0549 and let’s chat! I have wonderful people on the island that could help you, as they have helped many other Cyprus Property Buying Guide readers…

Or fill in the form at:

http://www.CyprusBuyingGuide.com/requirementsform.htm

and I will give you a call to discuss your requirements

How a Guide Reader saved £11,504 by being Smart

Please, what ever you do, remember that you will save money – and sometimes quite a huge sum – if you transfer your funds abroad through a currency company (such as Smart Currency) rather than your high street bank. Have a look at this case study that I put together and see what you think:

Paul and his wife Deborah had decided to buy a condominium in the USA. Their son had married an American girl and they were determined to be part of their lives and to get to know their new daughter-in-law.

Paul needed to send the equivalent of £135,000 to Florida at the end of September. Fortunately he had heeded the advice given on the Smart Currency website and phoned in early - June in fact - to discuss his needs. At that time, it was recommended that he look at reserving money (for purchase in the future) at that day’s exchange rate – Paul takes up the story:

“Who was to know that we were just about to fall over the precipice of the biggest recession in living memory? I was told by the Smart trader that, given how unpopular sterling was, the pound / dollar could go down the further along the year we went - he must have been psychic! His thoughts were that it may be best to arrange a ‘forward contract’ – to buy currency at today’s date for transfer in the future - as soon as possible, thus locking in the rate at the time to use at a given date in September. Suffice to say it’s the best piece of financial planning I have ever done,” says Paul gratefully; “not to mention that Smart made the whole transaction so simple, a couple of short pieces of correspondence and it was all set to go.”

Paul was able to reserve the US$ 264,600 that he needed to send to the USA at a rate of 1.96 GBP/USD on a forward contract from 02/07/08 to 26/09/08. In Sterling, the cost to Paul (when the contract matured in September) was fixed at £135,000 less the deposit paid. (US$ 264,600 ÷ 1.96 = £135,000).

Had Paul waited until September to buy the currency needed, which was his original intention, the rate would have been 1.84. This would have meant a cost of £143,804 (US$264,600 ÷ 1.84 = £143,804), making a loss for Paul of £8,804 over buying a forward contract.

Furthermore, this was not the only saving that Paul made. Had he traded with his high street bank rather than getting exceptionally good rates from Smart, it would have been approximately £2,700 more expensive for the USD purchased (or he would have received $5,292 less).

All in all Paul saved £11,504 by being Smart with his international payment for his overseas property!

Incidentally, with current rates at the time of writing at 1.46, if the requirement had been for now, and booking forward when Paul did, the saving would have been an outrageous £46,232 (US$264,600 ÷1.46 = £ 181,232 - £135,000 = £46,132).

These figures really bring to light the importance of using not only a currency company, but the right currency company – one where you get a really proactive service.

As soon as you know that you’re going to send money overseas, contact Smart Currency Exchange.

To read the latest on Sterling and the Euro go to: http://www.CyprusBuyingGuide.com/Currency230709.htm

Why overseas property buyers lose money...
...and how you can avoid it!

This 10-page educational report outlines:

• Case Study: When Property Buyer, Mr Reed, Purchased an Overseas Property, he Made Three Mistakes that Cost Him £10,256...learn how you can avoid them...
  
• How the Banks make HUGE profits from their long-standing unsuspecting customers
  
• Ways to safeguard yourself against adverse fluctuations in exchange rates (or in other words, helping you to keep your money in your pocket)
  
• The entire process of moving money from the UK to any overseas location, so that you're armed with all the knowledge you need to make intelligent decisions about your money
  
• How you can ultimately save £100’s and £1000’s so that you have ample money to buy furniture and white goods…
  
• More case studies of people that lost money due to foreign currency strengthening against the pound, so that you learn from other peoples mistakes rather than your own!
  

And just a couple remarks about the report from our readers...

"We have found your free report to be extremely helpful... Wendy Watson"

"I have read and absorbed the information in the stories outlining the mistakes which the uninitiated can make when transferring currency. It is very illuminating and essential that any one,like myself, who is in the process of buying an overseas property should be aware of. I would go so far as to say that every agent selling overseas properties should be compelled to advise their prospective purchasers that it is paramount that they use a currency expert such as yourselves. Regards, Eric Thomas"

To get a copy of the report at no charge go to: http://www.smartcurrencyexchange.com/freereport.htm

To get a Better-than-Bank rate go to: http://www.smartCurrencyExchange.com/smartsquotation.htm
or call Carl on 08081 630 102 freephone.

Can it be true – money back from the tax man?

I picked up an article in the Financial Mail recently that I thought may be of interest to you. It drew attention to the fact that anyone who has paid capital gains tax on the sale of a European property, or has failed to cover their costs when letting out a property, could now receive a rebate on tax paid in the last five years.

Needless to say, the cynic in me saw this as an opportunity for the government to find out exactly who is receiving taxable rental…but hey, this may be a genuine window of opportunity for some investors!

Evidently the tax break is an attempt by the government to bring the rules for European holiday homes into line with those for second homes in the UK. The fact that these benefits were allowed on second homes in the UK and not in the rest of Europe has been seen as a contravention of European law. Of course, the upshot is that this benefit is to be removed next year from second homes in the UK too – however, until then, owners of properties abroad are allowed to claim retrospectively.

SO: you may be liable for a tax rebate:

£ if the income you received in rental did not cover related costs, such as mortgage, repairs, insurance and many other bills related to the property

£ if you have paid capital gains tax on the sale of a European property

Should you fall into either of these categories you are advised to act fairly swiftly as this only applies to the current tax year. Good luck! Do call 02078980549 if you’d like to chat about your future plans at all – I’d love to hear from you.

And remember too that as you move your money across to pay bills, holiday in Cyprus, have your pension forwarded to you, you will need to contact Smart Currency and discuss this. They can help you here too. Phone 0870 285 0364/ 0207 898 0541 or go to:
http://www.smartCurrencyExchange.com/smartsquotation.htm

New Bus Services - Paphos International Airport – by Jackie Nicholls

ALEPA Bus Company in Cyprus has launched a new service that connects the tourist areas to Paphos International Airport. The service runs from Coral Bay and stops at the main hotels along the coast road in Paphos and Yeroskipou. Tourists arriving at Paphos International Airport can also catch the new bus from directly outside the Airport Terminal so you no longer have to take an expensive taxi!

There are currently between five and seven departure times daily for this service, which is known as “Route 12”. The departure times for both the airport bound and return journeys are geared specifically towards the airport flight schedules. The cost of this service at the time of writing is a mere €3 one way – fantastic value for money!

“We have scheduled the pick-up times to correspond with flight times, allowing passengers about 90 minutes for arrival before their plane leaves. Customers are advised to keep up to date with our website because, as flight times change, the service will be adapted around it” said a spokesperson for ALEPA.

What’s more, the Paphos Chamber of Commerce and Industry, due to customer demand, announced the start of yet another bus service this week between Paphos International Airport and Larnaca International Airport. You simply take the bus from Paphos Airport to Limassol first. On arrival at Limassol, you change to a waiting connecting bus which will take you to Larnaca International Airport. Normally, a taxi could cost you up to €200 to get from Larnaca International Airport to Paphos International Airport or vice versa. But not any more!

This new bus service at the time of writing is a mere €7 from Paphos International Airport to Limassol (one-way), then another €7 from Limassol to Larnaca International Airport (one-way) and vice versa. Again amazing value for money! Now, a return trip from Paphos International Airport to Larnaca International Airport (and vice versa) only costs a total of €14 single, €28 return including luggage – an absolute bargain considering the distance covered, and I am reliably told by recent users that the service is excellent.

Both these routes have been welcomed with open arms by both tourists and locals alike, who have long demanded a low cost way of travelling between hotels and both International Airports.

For details about these services, telephone (00 357) 26 934 252 or easier still, go to www.pafosbuses.com for detailed timetable information.

That delicate subject…

As you know, I love Cyprus, but let’s be honest, there are perhaps a few things that we would like to change aren’t there? And perhaps at the top of the list is the sewage system…? I know I discussed this in my February newsletter but, judging from the response I had from people, I think it is a subject that, although not the most pleasant to discuss, certainly needs addressing.

My colleague Carol, who writes our Greece newsletter, always remarks how strange it is that one of the first sewage systems in the world was discovered in the archaeological site of Knossos – and nothing much seems to have changed since then in Greece. I’m afraid much the same can be said of Cyprus!

Well, the good news is that help is at hand. I think we are all getting the message that things need to change if our world as we know it is to be a safe and healthy place in which to live - as I read somewhere, green IS the new black! So when I heard from someone who has decided to do something about the sewage system, working with entirely ‘green’ natural micro-organisms, I pricked up my ears.

I chatted to Duncan on the phone about his new solution: now, I don’t pretend to be a scientist and have very little knowledge of the workings of pipes and drains – I just can’t get interested – but I did like what he had to tell me.

While they are not able to unblock drains with this system, they can guarantee that, once fitted to your present sewage system, you will be able to use toilet paper and flush it away, as we do in the UK. For a small charge – I think I heard the ballpark figure of ? €300 - they can do a complete survey of your present system, install the plumbing/pump and then provide the natural biological product that that will last for a year at about €1 per week. This then evidently breaks down all waste products …I prefer not to think about this part too much!

If you are interested in hearing more about this system then contact me at 0207 898 0549 or email me and I will put you in touch with them.

mailto:Kim@CyprusBuyingGuide.com

Travelling to Cyprus

Travelling on the tube the other day I saw a really great offer from ebookers – have you seen it? I thought that I share it with you, especially as summer is just the time when prices seem to rocket!

They are saying that this summer every holiday is on sale until 31st July – and this even includes August Bank holiday breaks!

You can save on EVERY destination - now there is no excuse not to jump on the plane and take that a last minute holiday you have been promising yourself, or that trip to look at property…! On some options you pay for only half of your stay – and how about spoiling yourself with luxury accommodation at bargain prices?

And there are some great prices: over the August bank holiday you can go to Athens for 3 nights on a scheduled flight for £296; to Dublin £162 – that’s a real bargain! Other holidays included Istanbul for £313, Lisbon for £271…the list is endless. Spoil yourself and have a look at:

Ebookers

Incidentally, if you are just booking flights it does sometimes pay to start your journey on Tuesday, Wednesday or Thursday, something I discovered by playing on this site – it can make quite a difference to the price.

A word of warning…

Speed cameras are making a return to the island - around 460 are expected in revised locations around the island...don’t say you haven’t been warned!

Buy the Guide

Do you have your copy of the Cyprus Property Buying Guide yet? It makes great holiday reading and, if you are thinking of buying property in Cyprus, it is an absolute MUST!

As you may have gathered, I know the island inside out – both the good and the bad. The Cyprus Property Buying Guide is an utterly honest and straightforward look at the buying process and will allow you peace of mind in knowing that you have covered every aspect of the buying process. This is what Brian Dorey, a reader wrote to me: he was emphatic that he wanted his comments to go up on our website:

Dear Kim

I just received notification that my house in Peyia, Cyprus, has completed its contract transfers this afternoon.

So I can't thank you enough for your encouragement & helpful tips. I’ve had a recommendation prepared for a while & passed on your site & forum information to several interested friends over the past months, so please feel free to add (this recommendation)to your list of fans:

Having found Kim's forum, subscribing to her free newsletters & purchasing the Overseas Buying Guide to purchasing property in Cyprus, it was amazingly easy using the tips & suggestions, to define my requirements & establish my strategy for what I really wanted.

Then once introduced to Kim's network of friendly helpful associates, everything fell into place, despite some very attractive, but potentially risky alternatives which I could have easily tempted into, had I not had a plan to keep me on track & knowledgeable friends to draw advice from.

I have now successfully purchased a unique property, which I believe I will enjoy during my future retirement in a friendly & more attractive climate than the UK.

Thanks again Kim to you, & all your kind associates & their unique way of working.

Best regards

Brian Dorey.

If you want your copy of the Guide, just go to:
http://www.CyprusBuyingGuide.com/guide.htm

Bye for now...

Well...that's it for this month. If you have anything that you'd like to discuss, give me a ring on 0207 898 0549. Sometimes it's hard to catch me at the office, however Kate or Elaine are often around and they're very helpful.

Enjoy July!

Kim
Cyprus Buying Guide
The Overseas Guides Company Limited.
mailto:Kim@CyprusBuyingGuide.com