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Bills rewarding bad borrowers may pass

The bills rewarding bad borrowers by exempting them from paying income tax, capital gains tax, property transfer fees, stamp duty and the special defence contribution are expected to pass.
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Applications from Golden visa providers

As from July 31st golden visa applications will only be accepted from providers that have registered with the scheme's supervisory body and who have signed up to a code of conduct.
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Reward bad borrowers; punish the good

In a move, which if successful, will result in rewarding bad borrowers while punishing the good, the Cyprus parliament is expected to vote on proposals granting tax relief to bank debtors by July.
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Cyprus running out of time to reduce NPLs

Pressure is mounting on the Cyprus banks to reduce non-performing loans (NPLs) and proposals put forward by the Finance Ministry could also fix areas in the law affecting the issue of title deeds from indebted developers.
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Permits for new homes up 13.3 per cent

The number of building permits for the construction of new homes in Cyprus rose 13.3 per cent in March 2018 compared to March 2017 providing for the construction of 467 new homes.
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Cyprus property sales up 29% in May (Update)

The number of property sales in Cyprus continued to rise in May with the number of sales contracts deposited at Land Registry Offices across the Republic up 29 per cent compared with May 2017.
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Cyprus property price rises continue

The RICS Cyprus Property Price Index for Q4 2017 reports price increases for another quarter with significant price rises for houses and apartments in Limassol and Larnaca and offices in Nicosia.
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Lawyers’ price-fixing challenge success

The complaint by 'Fairness in Fees' to the European Commission challenging price-fixing by the Cyprus Bar Association (CBA) has been successful; their minimum fee regulations will soon be consigned to the bin.
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EC urges Title Deeds, NPL & other reforms

The European Commission has once again recommended that Cyprus takes measures to ensure reliable and swift systems for the issuance of Title Deeds & speed the reduction of non-performing loans.
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A letter to UK Nationals living in Cyprus

British High Commissioner Stephen Lillie has written an open letter to UK nationals living in Cyprus with the latest on negotiations regarding the UK's departure from the European Union.
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Discussion on old mortgages bill postponed

Discussions on the bill seeking to exempt pre-2014 mortgages from the foreclosure laws have been postponed by the house finance committee while it waits for the bills related to the issue of non-performing loans (NPLs).
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Limit on citizenship scheme announced

The Council of Ministers has decided to restrict the number of citizenships granted under the ‘Citizenship by Investment Scheme', aka ‘Golden Visa Program’ aka ‘Passports for Cash Scheme’ to 700 a year.
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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.
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Reduce non-performing loans by 40% in 2018

The Finance Ministry's 'Stability Programme 2018 – 2021' outlines a three-pronged strategy to address the high levels of non-performing loans (NPLs) in the banking sector that pose a risk to the economy.
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Bill to exempt old mortgages from foreclosure

Officials from the government and the Cyprus Central Bank have warned that a bill seeking to exempt pre-2014 mortgages from the foreclosure laws would wreak havoc on banks' balance sheets.
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Permits for new homes up 12.5 per cent

The number of building permits for the construction of new homes in Cyprus rose 12.5 per cent in February 2018 compared to February 2017 providing for the construction of 431 new homes.
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April property sales up 29%

Cyprus property sales continued to rise in April with the number of sales contracts deposited at Land Registry Offices across the Republic up 29 per cent compared with April 2017
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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.
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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.
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Residential property prices continue to rise

The Cyprus Central Bank reports that the price of residential property in Cyprus (apartments and houses) continued to rise on a quarterly and annual basis during the fourth quarter of 2017.
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