Real estate advisory services

One stop solution

www.pwc.com.cy

The real estate industry is a key driver of economic activity. The Cyprus property market currently faces an unprecedented range of challenges which renders the business environment more complex and calls for a need for independent real estate knowledge experts. PwC Cyprus has proactively responded to these changes by creating comprehensive solutions for such needs.

How can PwC help you?

Real estate lifecycle

• Our experts offer our clients the value they are looking for, value that is based on the knowledge drawn from our extensive international presence and on experience shaped from the local environment and needs.

• Our experienced real estate focused team provides tailored-made solutions of high quality for specific needs to clients who develop, invest, own, lease, dispose or acquire all types of property.

• Our clients draw comfort from working with PwC, the leading organisation of its kind in the world, and from the integrity, reliability and security that it brings with it.

• Our strong international network combined with our local expertise, enable us to support our clients’ needs in all their countries of operation.

We provide an integrated ‘one-stop shop’ solution offering, handling all issues relating to real estate projects, including investment support, transaction advisory, valuations, legal, tax structuring, IFRS’s and complicated accounting treatment of real assets and leases.

Pre-Development Development Managing Operations

Exit

ServicesInvestment support services

M&A Advisory and assistance in raising finance

Valuations

Relocation advisory services

Reorganisation / Restructurings

Distressed Assets / Business Recovery

IFRS’s and complicated accounting treatment

VAT and Tax advisory

Legal services

Investment support services

Feasibility analysis / Investment appraisals • Financial Modelling • Sensitivity Analysis

Preparation and objective assessment of business plans

• Market analysis • Site analysis • SWOT Analysis • Economic evaluation of projects • Competitor study and analysis

M&A advisory and assistance in raising finance

• Objective assessment of Business Plan, review of critical assumptions

• Assessment of the financial returns for potential investors

• Identification of investors, using our global network • Assistance in the preparation of road shows / investor

presentations through the preparation of teasers and information memorandum

• Assistance during the negotiation process • Purchaser or vendor due diligence • Design of financing schemes

Valuations

• Market Value analysis in the context of transactions, due diligence processes, audits of annual financial statements and credit checks

• Support in real estate valuations within the context of IFRS

Relocation advisory services

• Pathfinder services: Relates to foreign based businesses aiming to setup offices in Cyprus for the first time: Assistance in finding suitable office space that serves the tailored needs of the client

• Citizenship services: Relates to affluent individuals who wish to obtain Cyprus Citizenship. Support in finding suitable residential properties which meet the criteria of affluent interested individuals

• Permanent Residence services: Relates to individuals who wish to obtain Immigration Permit which will give the right to reside permanently in Cyprus. Guidance in finding suitable residential properties

Corporate restructuring / reorganizations for separating real estate from other business

• Identification and assessment of options available for the separation of real estate from other business activities

• Identification of structure that will enhance value and provide maximum flexibility for possible mergers & acquisitions

• Evaluation of the tax and other implications of the proposed restructuring plan

Distressed assets/ Business recovery

• Advise on optimal approach to banks / lenders and other stakeholders

• Advise on the preparation of plan dealing with distressed assets

• Debt Advisory

IFRS and complicated accounting treatment

• Support and guidance in relation to the accounting treatment of specific transactions both under the existing standards and also under the standards issued not yet effective (enabling better planning and preparation for the standards that will be applied at a later stage). Transactions can relate to investment properties, asset management and funds, recognition of revenue for real estate inventories, lease classification etc.

• Review of financial statements to ensure compliance to IFRS as adopted in the European union

Contact us:

Constantinos ConstantinouPartnerDeals and Corporate Financeconstantinos.constantinou@cy.pwc.com

Tasos N NolasPartnerAssurance Servicestasos.nolas@cy.pwc.com

Constantinos SavvidesAssistant ManagerDeals and Corporate Financeconstantinos.savvides@cy.pwc.com

This content is for general information purposes only, and should not be used as a substitute for consultation with professional advisors.

© 2013 PricewaterhouseCoopers Ltd. All rights reserved. PwC refers to the Cyprus member firm, and may sometimes refer to the PwC network. Each member firm is a

separate legal entity. Please see www.pwc.com/structure for further details.

Tax and VAT advisory

• Tax efficient structures in relation to the entry of prospective investors in real estate groups.

• Tax efficient structures for obtaining financing for real estate operations.

• Assistance in the reorganisation (merger, de-merger etc) of real estate groups for achieving an efficient tax base or a more transparent structure for potential investors.

• Assistance in complying with the provisions of the Capital Gains Tax (CGT), Immovable Property Tax (IPT) and Income Tax (IT) Laws.

• Assistance /Advise in dealing with VAT issues. • Any other tax compliance work.

Legal services

Legal support for acquisition of real estate • Advising in respect of the status of the real estate • Reviewing and amending standard (developer’s)

Contracts of Sale or drafting Contracts of Sale • Applying for any necessary permits • Filing of Contracts with the District Land Registry • Appearing before the District Land Registry to complete

transfer and registration of real estate in the name of the client

Legal support for disposal of real estate • Drafting of Sale/Lease Agreements • Appearing before the District Land Registry to complete

transfer and registration of real estate in the name of the client

PwC CyprusJulia House, 3 Themistocles Dervis Street, CY-1066 Nicosia, CyprusP O Box 21612, CY-1591 Nicosia, CyprusT. +357 - 22555000, F. +357 - 22555001