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Cyprus urged to implement mortgage directive

The European Commission (EC) has given Cyprus and eight other EU member states two months to implement the regulations of the European Union on mortgages if they want to avoid going to the European Court of Justice.

Title Deed applications exceed 8,000

More than 8,000 trapped buyers of property in Cyprus have applied for their Title Deeds under the provisions of the ‘hidden mortgage’/’trapped buyers’ law that was introduced last September according to the Cypriot Interior Ministry.

Limitations law amendment (updated)

Amendments to the Statute of Limitations Law have been published in the Cyprus Gazette and will be welcomed by anyone wishing to issue legal proceedings against another party.

Hourican disappointed by shenanigans

John Hourican, the outgoing CEO of the Bank of Cyprus said he was disappointed by the ‘shenanigans’ of lawmakers that delayed and diluted laws aimed at helping banks collect on a huge number of non-performing loans.

Cabinet gives the nod to fourth insolvency bill

Yesterday the Cyprus Council Ministers (Cabinet) approved the fourth of five bills comprising the insolvency framework designed to update and amend the personal and corporate bankruptcy laws.

Statute of Limitations Law extension

The transition period for the Statute of Limitations Law that Cyprus introduced in 2012 was extended until 31 December 2014 may be extended by a further 6 months or possibly 12 months.

Foreclosures law to Troika

President Anastasiades is to speak with European leaders and officials in efforts to gain their understanding and support for the foreclosures law that was passed by parliament on Saturday.

The plan

Following a vote in the Cyprus parliament to adopt the Euro, a banker, a government minister, a property developer and a lawyer meet at a restaurant and discuss the plan for the island’s future.

Foreclosure bill bunfight continues

The debate in the Cyprus parliament on the controversial foreclosure bill continues with opposition parties refusing to support the bill in its present form and calling for a series of amendments.

Cyprus Immovable Property Tax 2014

The law amending the Cyprus Immovable Property Tax Laws for 2014 has now been published in the Cyprus Gazette and it offers a 15 per cent discount for those who pay early.

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