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All reports tagged with: "law changes"

Moody’s warns foreclosure law bad for banks

Moody’s rating agency has warned that changes to the foreclosure law will lengthen the time it takes for banks to foreclose on properties making it more difficult to reduce their NPLs.

Trapped buyers law changes discussed

A bill aimed at improving the 2015 trapped buyers law, which was successfully contested by the banks as being unconstitutional in the lower courts is being discussed by the House Legal Affairs Committee.

Swimming pools law changes

A new law that will make a distinction between private and public swimming pools has been proposed by the Interior Ministry and a draft is currently being scrutinised by the Legal Service.

Law changes encourage overseas investment

With the aim of attracting investment into Cyprus from countries outside the EU, citizens of those countries may now acquire more than one dwelling providing that certain criteria and conditions are met.

Property tax incentive extended

Designed to stimulate growth in the island’s beleaguered property market, tax incentives introduced in December 2011 for those purchasing new homes may now be extended until the end of 2013.

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