LEGAL: Questions and Answers by an Egyptian lawyer

[Rivermead Global Property]

Originally Posted by ScottyMac

Hello Zeiad,

I was just woundering if you found anything different after you conversation with the Tax Authorities in regards to stamp duty. And if as you say there is no stamp duty what would you reccomend those of us who have paid it do?

Alot of people including myself have paid 0.6% Stamp duty to the solicitors on the Desert Pearl project in Hurghada?

Many Thanks

Hi Zeiad, i know you are a very busy man but do you have an answer for this question?

I have spoke to other solicitors and some say there is stamp duty some say not, is it not set by the authorities? Do some developers/builders build it in to the price and pay it on the clients behalf?

Many thanks in advance for your assistance.

[queenie40something]

Hi Steve I have edited your post with ref to help on bank accounts as people where answering on this thread which is a legal one only.

[vix]

Originally Posted by ScottyMac

Hello Zeiad,

I was just woundering if you found anything different after you conversation with the Tax Authorities in regards to stamp duty. And if as you say there is no stamp duty what would you reccomend those of us who have paid it do?

Alot of people including myself have paid 0.6% Stamp duty to the solicitors on the Desert Pearl project in Hurghada?

Many Thanks

Hi Scott. This may be a silly question, but does it actually say 'stamp duty' on your receipt ? I paid bang on £400.00 to Mohamed, stamp duty not mentioned.
Regards,
Vix.

[Rivermead Global Property]

Originally Posted by vix

Hi Scott. This may be a silly question, but does it actually say 'stamp duty' on your receipt ? I paid bang on £400.00 to Mohamed, stamp duty not mentioned.
Regards,
Vix.

Maybe they mean court fees for registration?

[chandra]

Dear Zeiad, can you please clarify 2 issues. The first one, today only we seen photos of Oasis Marina and we can see a road between villa apartments and the beach. According to you there won't be anything between development and the beach.
See the photos on Oasis Marina thread on this forum.( page 11)



second issue is whether the Iraida company have a building permission? I understand you have done a due diligence on this project. Can you please clarify both issues.

Thanks very much.

Chandra

[vix]

Originally Posted by Rivermead Global Property

Maybe they mean court fees for registration?

This is what I was wondering. I was initially given a breakdown, which DID include 0.6% purchase tax, and totalled approx £1000.00. But this was not official. Later, I queried it with Amanda at WWD, and was told this appeared to be correct, but Mohamed would verify. He did not.
The sum I paid was for water, elec, court fees, legal stamp and translation costs re contract. For those not having their contract officially translated, the costs should be lower.
If the 0.6% is correct, and has mentioned before may be incorporated into the purchase cost, surely this would apply to all DP1 clients, not just a few.

[Peter Mitry]

It sounds complicated Steve and the best advice I can offer is to speak to Zeiad, the lawyer off the forum. It will cost you for his time but I feel he is the guy to sort this out if anyone can.

Once you have legal ownership we can certainly help you to sell them and I would be happy to meet you when you come over.

Peter Mitry

[Rivermead Global Property]

Originally Posted by vix

This is what I was wondering. I was initially given a breakdown, which DID include 0.6% purchase tax, and totalled approx £1000.00. But this was not official. Later, I queried it with Amanda at WWD, and was told this appeared to be correct, but Mohamed would verify. He did not.
The sum I paid was for water, elec, court fees, legal stamp and translation costs re contract. For those not having their contract officially translated, the costs should be lower.
If the 0.6% is correct, and has mentioned before may be incorporated into the purchase cost, surely this would apply to all DP1 clients, not just a few.

Hi Vix, yes it should apply to all. I think this is another of those teething problems with a new market, i need to investigate further.

[ScottyMac]

Originally Posted by vix

This is what I was wondering. I was initially given a breakdown, which DID include 0.6% purchase tax, and totalled approx £1000.00. But this was not official. Later, I queried it with Amanda at WWD, and was told this appeared to be correct, but Mohamed would verify. He did not.
The sum I paid was for water, elec, court fees, legal stamp and translation costs re contract. For those not having their contract officially translated, the costs should be lower.
If the 0.6% is correct, and has mentioned before may be incorporated into the purchase cost, surely this would apply to all DP1 clients, not just a few.

Hi Vix,

I havent checked the Recipt but when he was explaining it to me he Definatly said it was Stamp Duty at 0.6% the thing I find strange is after checking with Hannah a WWD she said she contacted and Independent Lawyer in the UK and Egypt and both said there was 0.6% stamp duty????

[vix]

Originally Posted by ScottyMac

Hi Vix,

I havent checked the Recipt but when he was explaining it to me he Definatly said it was Stamp Duty at 0.6% the thing I find strange is after checking with Hannah a WWD she said she contacted and Independent Lawyer in the UK and Egypt and both said there was 0.6% stamp duty????

This is very bizarre isn't it? If you check your receipt, I will ask my ex, (who speaks to Mohamed in Arabic) to ask him what the position is. He needs to speak to him on another matter.