Latest Headlines

Archive for June, 2018

Non-performing loan laws inefficient

The legal frameworks introduced by Cyprus aimed at reducing non-performing loans (NPLs) are inefficient according to the European Stability Mechanism (ESM) in its annual report.

Management committees fall foul of law

A number of management committees, which manage and administer jointly-owned buildings in Cyprus, have recently found their bank accounts frozen due to a law introduced in 2017.

Passports scheme could bring Dutch disease

The Fiscal Council has warned that overreliance on the Passports for Cash Scheme aka Citizenship by Investment Scheme aka Golden Visa Program could bring ‘Dutch disease’ to Cyprus.

Rent scam suspects detained in Limassol

Two suspects in Limassol have been remanded in custody for four days on suspicion of operating a rent scam following complaints from tenants who’d been paying €800/month for the last four months.

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.

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.

MPs table bill to tax Airbnb-style rentals

A bill to regulate and tax the income on short-term Airbnb-style property rentals has been tabled by two MPs and should go before the plenum prior to the parliamentary summer recess.

Limassol rent price protest

Around 1,000 Limassolians and others are expected to gather outside the Limassol District Administration Offices in Anexartisias Street to protest against the exorbitant rent prices in the town.

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.

Speeding up issue of Title Deeds

The Cyprus government is ready discuss ways to reduce the time taken to issue Title Deeds, which has tarnished the reputation of Cyprus as a safe place to buy property by overseas investors.

Page 1 of 212

Back to top