HomeTagsMatters

Tag: matters

Latest News & Updates

Online rented property regulation

Suggestions to regulate property in Cyprus that is offered for rent online through organisations such as AirBnB have been put to the House by MPs Averoff Neophytou and Elias Myrianthous.
Latest News & Updates

Tax shock for British residents in Cyprus

The revised UK and Cyprus Double Taxation Convention, which was signed on 22 March, could result in higher taxes for some retired British residents in Cyprus whose pensions are paid by the UK Government.
Latest News & Updates

Taxing Airbnb property rental income

The practice of renting properties in Cyprus through Airbnb and other websites has come under the scrutiny of the tax authorities who are looking to address the problem of tax evasion on rental income received.
Latest News & Updates

Cyprus Property Transfer Fees and VAT

MPs in Cyprus are planning to revise Property Transfer Fees and the VAT paid on land sales to eliminate distortions in the Cyprus property market, which they believe is adversely impacting competition.
Latest News & Updates

Pitfalls to avoid when buying property in Cyprus

To help prospective buyers avoid making costly mistakes, Charles Savva outlines the top 10 pitfalls to avoid when buying property in Cyprus and how to ensure that property purchases move forward smoothly and efficiently.
Latest News & Updates

Unfair contracts languishing at Legal Service

Fifty two decisions by the Cyprus Consumer Protection Service relating to unfair contracts have been languishing at the Legal Service for two-and-a-half years instead of being brought to court.
Latest News & Updates

Specific Performance Law – depositing contracts

Cyprus' replacement Specific Performance law, which came into force in 2011, provided that contracts of sale that were signed but not been lodged at the Land Registry to be lodged within six months of the law coming into force.
Latest News & Updates

Parliament approves VAT on building land

The new bill imposing VAT on building land has been approved by parliament and will come into force on 2nd January 2018 some ten years after the deadline set by the European Union.
Latest News & Updates

Peyia goes to court over Vassiliou project

The Peyia council is taking the Nicosia town planning department to court over its decision to issue a planning permit for a mammoth development on a hillside (Ayia Vouni) overlooking Peyia.
Latest News & Updates

VAT on land sales agreement

Cyprus is to impose VAT at a rate of 19 per cent on land sales for commercial activities, which will be based on the Dutch model according to a report in the Greek language media.
Latest News & Updates

Cyprus court upholds trapped buyers law

The Limassol District Court has upheld the 'trapped buyers' law overturning previous district court rulings in favour of banks that blocked Title Deeds being issued to some 70,000 trapped buyers.
Latest News & Updates

Paphos Land Registry abuse of power

Officials at the Paphos Land Registry have been accused of breach of power by a local businessman who claims that certain officials have been deliberately dragging their feet over the survey of a plot of land.
Latest News & Updates

Bank of Cyprus fined €170,000

The Bank of Cyprus has been hit with a €170,000 administrative fine by the Office of Competition and Consumer Protection (CCPS) following its investigation into the bank's commercial practices relating to mortgage loans.
Latest News & Updates

Vote imposing VAT on land sales postponed

A vote by the Cyprus government on a bill to impose 19 percent VAT on land sales (building and development plots) has been postponed until September; the draft bill will be sent to the EC.
Latest News & Updates

Trapped buyers (update 2)

The House Legal Affairs Committee is meeting today in efforts to resolve constitutional issues with the trapped buyers law. Meanwhile here is sitrep from Marina Massoura from the law firm of L.G. Zambartas LLC.
Latest News & Updates

New obstacle to solving Title Deeds mess

Solutions to the Title Deed mess resulting from court decisions declaring that the 'Trapped Buyers' law is unconstitutional will be the subject of a meeting between all parties on 16th June.
Latest News & Updates

Why trapped buyers law unconstitutional

Marina Massoura from the law firm of L.G. Zambartas LLC explains why the trapped buyers law was ruled as being unconstitutional by the District Courts in Limassol and Paphos.
Latest News & Updates

Trapped buyers could lose their homes

The Limassol and Paphos District Courts in Cyprus have both ruled that the trapped buyers' law, which enabled those duped into buying property built on mortgaged land to get their Title Deeds, is unconstitutional.
Latest News & Updates

Imposing VAT on land sales

Cyprus is facing hefty fines from the European Commission if it does not impose VAT on land sales, but the imposition of VAT will have knock-on effects on the property market and the banks.
Latest News & Updates

Bank contracts for buying property

The Cyprus Parliament voted unanimously on Friday to adopt EU legislation on bank contracts for the purchase of property, which will provide consumers with a higher level of protection.
Load more

Top Stories

Elsewhere in Cyprus Property News