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Legal Matters

Cyprus property value change notification

The owners of property in Cyprus must be notified by the Land Registry personally if there is any significant change in the value of their property the island’s Supreme Court has ruled.

Cyprus property rent reforms

It should soon be easier for landlords to recover their properties in Cyprus from tenants who fail to pay the rent if the bill submitted to parliament by the DISY parliamentary group is approved.

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.

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.

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.

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).

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.

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.

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.

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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