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All reports tagged with: "Cyprus"

Changes to Citizenship scheme approved

Changes to Cyprus’ controversial citizenship-by-investment scheme, which has granted 1,864 citizenships and generated €6.6 billion of foreign investment, have been approved by the Cabinet.

Cyprus banks awash with properties

Banks in Cyprus have acquired more than 14,000 properties from households and businesses through foreclosures and debt-to-assets swaps according to a report in the Phileleftheros.

Citizenship linked to president’s family ties

Cypriot citizenship has been granted to a Russian billionaire; a former shareholder in a Russian bank whose premises in Limassol were built by a company co-owned by the president’s son-in-law.

Property sales continue to rise (update)

The number of property sales in Cyprus continued to rise in January 2019 compared to the numbers sold in January 2018 according to official figures published today by the Department of Lands and Surveys.

Airbnb-style rental law faces major issue

A bill designed to regulate Airbnb-style short-term property rentals is almost ready to be put to the vote, but one issue has to be resolved; the ease with which owners would be able to rent out apartments.

617 new homes in October

Building permits for the construction of 617 new homes in Cyprus were authorised during October 2018; an increase of 13.6 percent compared with the corresponding month in 2017.

EU citizenship schemes need full transparency

Cyprus has been told that all EU citizenship schemes need to have full transparency and Brussels has deployed experts to ensure these schemes prevent tax evasion, money laundering and security threats

Ayia Napa golf course plans rejected

Plans to build a golf course at Ayia Napa have been given the thumbs down by the Environmental Department as it will have significant negative and irreversible effects on the environment.

Passport-for-sale schemes pose crime risks (Update)

The EU says that passport-for-sale schemes by Malta, Cyprus, and Bulgaria pose risks of infiltration of non-EU organised crime groups in the economy, money laundering, corruption and tax evasion.

Short-term lettings, real estate & tourism

Short-term Airbnb style property lettings will have a positive impact on the Cyprus real estate market and tourism industry, but balanced legislation is needed to ensure those positive impacts are achieved.

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