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Fugitive businessman holds Cyprus passport

Fugitive businessman Low Taek Jho, who holds a Cypriot passport and citizenship, has been described as a Malaysian conman sought by the authorities of Malaysia, Singapore, and the US.

ESTIA debt relief scheme failing big time

With only 3% of loan defaulters applying for the government’s ESTIA debt relief scheme, economics professor Stavros Zenios from the University of Cyprus, tweeted the scheme is “failing BIG time.”

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.

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.

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.

Developers seek to self-finance projects

Property developers are looking to self-finance construction projects due foreign investors fearing possible difficulties obtaining Title Deeds if developments are mortgaged and banks imposing stricter criteria for granting loans.

Cyprus amongst worst offenders in corruption report

Cyprus was among countries that have not fully complied with any of the Council of Europe’s anti-corruption body’s GRECO recommendations according to a GRECO report issued on Tuesday.

Call for action over sky-high rents

As rents in Cyprus reach new heights with every passing month, pressure is building on the government to take affirmative action to ensure affordable accommodation for working families.

Cyprus building & construction driven by passports

Although the years of austerity in the Cyprus building and construction sectors appear to be over, pundits believe that they remain heavily dependent on the passport for investment scheme.

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