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All reports tagged with: "legislation"

Final solution for trapped buyers?

The Finance Ministry is seeking a final solution that will enable trapped buyers who were duped into buying property built on land that their property developer had previously mortgaged to the bank to get their Title Deeds.

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.

Reprieve for trapped buyers

The Cyprus government has vowed to continue issuing Title Deeds to trapped buyers despite the recent court rulings that left them in legal limbo according to a report in the Cyprus Weekly.

Swimming pools law to change?

Laws and regulations regarding the design, construction and authorisation of swimming pools may soon be revised as part of the package to reform Cyprus’ complex and time-consuming planning system.

Banks to take hit on Swiss Franc loans?

The majority of the House Finance Committee wants the Cyprus banks to take a hit of around €170 million on €1 billion of Swiss Franc housing loans despite objections raised by the Cyprus Central Bank.

Banks to recoup loans by ‘hook or crook’

Banks must find a way to recoup loans granted to insolvent developers once ‘trapped’ properties are released to home buyers, Interior Minister Socrates Hasikos said following a joint session of the House interior and finance committees.

Draft loan sales bills leaked

Details of the draft legislation designed to facilitate the sale of bank loans (one of the pre-conditions for Cyprus to receive the next tranche of the bailout loan) has been leaked to the media.

MPs focus on foreclosure regulations

Cypriot MPs are continuing their discussions on the rules regulating the auctioning of properties that will enable the new repossession laws, which were passed in April, to come into force.

Insolvency framework bills passed

After the usual shenanigans we’ve come to expect from opposition parties and endless debates, the five bills comprising the insolvency framework were passed by a plenary session of parliament earlier today.

Bank loans of up to €15,000 will be written off

Bank loans of up to €15,000 will be written off if low income borrowers can demonstrate their inability to service them under the provisions of the insolvency framework being discussed by the House.

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