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VAT on land sales agreement

Cyprus is to impose VAT at a rate of 19 per cent on land sales for commercial activities, which will be based on the Dutch model according to a report in the Greek language media.

Work to start on Ayia Napa marina

The first phase of construction work on the Ayia Napa marina is scheduled to get underway on 30 September following the signing of an agreement between Makronisos Marina Ltd and Greece’s Terna A.E.

Aristo settles Bank of Cyprus debt

Aristo Developers has reached an agreement with the Bank of Cyprus to repay its debts, leaving the company with approximately €443 million of assets and around €110 million of outstanding loans.

Troika approves bailout programme

The latest review of Cyprus’ bailout programme has been successfully concluded, the EC, ECB and the IMF said in a press release yesterday, paving the way for Cyprus to take part in the ECB’s quantitative easing programme.

Leptos cuts deal with Bank of Cyprus

An agreement has been reached between Leptos Estates and the Bank of Cyprus to restructure a several million Euro loan according to Central Bank Governor Chrystalla Georghadji.

What is a floating charge?

Land Registry searches in Cyprus occasionally reveal floating charges/mortgages as encumbrances lodged against the title of a property; in this article Dr George Mountis explains.

Repossession agreement leaked

Some details of the agreement reached between the Cyprus government and the Troika of international lenders to ease the procedures for property repossessions have been leaked to the media.

Swiss Franc loans breakthrough

Out of court settlements in connection with the alleged mis-selling of Swiss Franc loans have been widely reported in the Cyprus and UK media and we have been inundated with requests for further information.

Parliament lifts bank bailout burden from taxpayers

Depositors are to be better protected by one of a number of measures approved by the European Parliament earlier today and there will be less political meddling to keep ailing bank costs down.

Sovereign Base Areas development agreement in full

Full details of the arrangement between the government of Cyprus and the government of the United Kingdom relating to the regulation of development in the Sovereign Base Areas released.

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