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Archive for October, 2019

Eviction of non-paying tenants to be made easier

The eviction of tenants who deliberately fail to pay their rents or who fall into arrears should be made easier next month when amendments to the Rent Control Law are passed by parliament.

New homes building permits on the rise

Building permits authorised in Cyprus during July 2019 provided for the construction of 1,028 new homes, compared with 632 in July 2018 according to official figures published by the Cyprus Statistical Service.

Income tax statements mandatory for all

Every resident of Cyprus will soon have to submit an annual tax statement regardless of whether their income falls below the tax threshold of €19,500; failure to pay will be a criminal offence.

Cyprus property boom is not a bubble

The Cyprus Finance Ministry says that the boom in the Cyprus property market is not a bubble but acknowledges that the potential large-scale sell-off of properties by the banks could push prices down.

Citizenship scheme reaching saturation point

Cyprus’ property developers and other stakeholders are concerned over the future of the construction industry as the Citizenship for Investment Scheme appears to be reaching saturation.

Cyprus hoteliers cry foul over new Airbnb law

The draft bill designed to regulate rentals through online Airbnb-type platforms has come under fire from Cyprus hoteliers who claim it allows short-term rental accommodation owners to compete without a handicap.

Cyprus developers defend citizenship scheme

The Cyprus Land and Building Developers Association defended the citizenship scheme saying that it had contributed to the creation of tens of thousands of jobs across many sectors of the economy.

Passports probe being expanded

In the wake of the Reuters’ exposé into golden passports for the country’s elite, the Cyprus government said it will carry out further investigations into citizenships granted under the previous investment scheme.

Cash Was King!

Cash Is King is a slang term reflecting the belief that money (cash) is more valuable than any other form of investment tool. This phrase is typically used when prices in the securities market are high.

Cabinet orders probe into Cambodian passports

The Cabinet has launched an investigation into golden passports for Cambodian elites following the Reuters’ exposé into how relatives and allies of Cambodia’s leader, Hun Sen, have amassed wealth overseas.

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