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What the new foreclosure bills mean

The new foreclosure bills passed by the Cyprus parliament expedites foreclosure proceedings, makes it easier for financial institutions to remove bad loans from their balance sheets, and increases the number of borrowers eligible for insolvency schemes.

Land Registry & Property Transfer Fees

In Cyprus, Property Transfer Fees are the local equivalent of the UK’s Stamp Duty Land Tax (SDLT), is a tax that is paid by a purchaser when they buy property or land; so why are so many people complaining?

Energy saving grant scheme

There are opportunities for those living in Cyprus permanently to increase the energy saving of their homes through the “I Save I Upgrade” grant scheme, which is co-funded by the European Union and the Cyprus Government.

Limassol in top 100 world cities

Limassol is amongst the top 100 cities of the world according in the ‘Quality of Living Index’ produced by Mercer, one of the world’s largest HR consultancy firms, that evaluated local living conditions in more than 450 cities.

Citizenship schemes pose major corruption risk

Citizenship and residence-by-investment schemes, commonly referred to as ‘Golden Visa’ programmes, are vulnerable to abuse and undermine the fight against corruption in the European Union.

Citizenship scheme shrouded in secrecy

Transparency in the ‘Citizenship by Investment Scheme’ aka ‘Golden Visa Program’ aka ‘Passports for Cash Scheme’ will remove the veil of secrecy and silence those accusing Cyprus of trading in naturalisations.

Driven to poverty by Swiss franc loan

A British woman who bought a property in Cyprus with a Swiss franc loan and who is now swamped in a mountain of debt after her partner left and the loan repayments almost quadrupled speaks to the Cyprus Mail.

Calculating communal fees

Communal fees are required to pay for the insurance, maintenance and repair of apartment buildings in Cyprus and other types of building complexes that contain common areas and shared facilities.

Cyprus property taxes in 2018

A number of changes to Cyprus property taxes have been made in recent times, most notably the introduction of VAT on the sale of building land, which I have summarised together with other changes in this article.

Reduced VAT on property purchase

Those buying a property in Cyprus as their main residence may apply for a reduced rate of VAT of 5% on the purchase price/construction cost of a new dwelling providing they meet certain criteria.

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