Latest Headlines

Legal Matters

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.

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.

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.

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.

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.

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.

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.

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.

Commercial court in 2018

In efforts to modernise the Cyprus justice system, a new Commercial court will be set up in early 2018 to deal with claims arising from contracts, company disputes, the purchase or sale of goods, etc.

Swiss Franc mortgages interim judgement

The first Cypriot (interim) judgement has been awarded by the Nicosia District Court in a case that affects many bona fide borrowers who bought property with a loan denominated in Swiss Francs.

Page 1 of 1412345Last »

Back to top