Latest Headlines

All reports tagged with: "law"

EDEK wants to freeze all repossessions

Political party ‘Movement of Social Democracy’ (EDEK) is planning to table proposals to freeze all repossessions by the banks as an extra safeguard for vulnerable homeowners who won’t be covered ‘Estia’.

MPs in new bid to help trapped buyers

A revised draft bill to help trapped buyers to finally get the Title Deed for the property they purchased will go before the House Legal Affairs Committee next week so that the bill can go the plenary on 12 July

Solution for trapped buyers edging closer?

Amendments to the law designed to resolve the Title Deed mess by enabling trapped buyers who were duped into buying homes on land their developer had earlier mortgaged to the bank to obtain their Title Deeds are edging closer to a vote my MPs.

Lower VAT on land bought for primary residence

Purchasers of undeveloped land to build an owner-occupied primary dwelling may soon be able to obtain a partial VAT refund if a bill currently being prepared by government is approved.

Bill to tax Airbnb rents to go to plenum

A bill designed to regulate and tax the rental income on an estimated 40,000 short term Airbnb style properties in Cyprus should be presented at a plenary session of the Cyprus parliament within the next two weeks.

Tougher insolvency & NPL laws

MPs approved tougher laws for dealing with non-performing loans (NPLs) and foreclosures that should also enable trapped buyers to get a Title Deed at a special plenary session of the Cyprus parliament yesterday.

Cyprus property value change notification

The owners of property in Cyprus must be notified by the Land Registry personally if there is any significant change in the value of their property the island’s Supreme Court has ruled.

Management committees fall foul of law

A number of management committees, which manage and administer jointly-owned buildings in Cyprus, have recently found their bank accounts frozen due to a law introduced in 2017.

MPs table bill to tax Airbnb-style rentals

A bill to regulate and tax the income on short-term Airbnb-style property rentals has been tabled by two MPs and should go before the plenum prior to the parliamentary summer recess.

Non-performing loans (NPLs) initiative

Following comments from the troika on the extremely high levels of non-performing loans (NPLs) the Cyprus government is preparing proposals to improve the insolvency and foreclosure laws.

Back to top