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Tax incentives target rich foreigners

A 50 per cent cut in Property Transfer Fees and other tax incentives have been announced by the Cyprus President in efforts designed to attract high-net-worth foreign investors to the island.

Citizenship scheme raises €2 billion

The ‘Citizenship by Investment’ programme for foreigners has boosted the Cyprus economy by €2 billion from property sales and investments in the country according to an audit services report.

Cypriot banks to benefit from foreclosure law

In its Credit Outlook, which assesses credit implications of current events, Moody’s Investors Service considers the implementation of the foreclosure law is credit positive for Cypriot banks.

Capital controls to end on Monday

President Nicos Anastasiades has announced that Cyprus will eliminate the last of the capital controls, which were imposed in April 2013 as part of a €10 billion European bailout, on Monday 6th April.

S&P revises Cyprus outlook to positive

Standard and Poor’s (S&P’s) has revised the Cyprus economy’s outlook to positive from stable, citing better than anticipated reduction in the country’s public debt and the less adverse economic growth.

Lebanese duped by false residency claims

A number of Lebanese nationals have been duped into buying property in Cyprus by ‘dubious’ agents who claimed that they would obtain a residency permit after a certain period of time.

Ayia Napa marina moves forward

The marina at Ayia Napa is moving forward with the news that the Ministry of Energy, Trade, Industry and Tourism has received a €25 million bank guarantee from M.M. Makronisos Marina Ltd.

Investors eye Venus Rock

A number of investors are reported to have shown a keen interest in the Venus Rock project at the recent Cyprus Investors’ Summit, which was held recently at the Four Seasons Hotel in Limassol.

Property deals stumble at prices

Property prices and uncertainty about foreclosures are hampering large foreign investments in mature development projects according to would-be investors at the Cyprus Investors Summit.

Delinquent developers ultimatum

The Bank of Cyprus is to offer a last chance to delinquent developers, including Leptos Estates, Aristo Developers, Pafilia Property Developers, to start repaying their debts or face the consequences.

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