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All reports tagged with: "memorandum of understanding"

Housing market in Cyprus

An insight into the island’s property sector and housing market are contained in ‘The Economic Adjustment Programme for Cyprus’, recently published by the European Commission.

Cypriot property Title Deeds (updated)

Daniel Hannan, MEP for South East England, has raised a question in the European Parliament to eradicate any doubt that Title Deeds issued as part of Cyprus’ bailout conditions will be unencumbered.

How we could deal with the transfer of BoC assets

Depending on decisions taken for the future of the Bank of Cyprus, all collateral for problematic loans that have been granted in recent years will be transferred to the new entity, which will sell or rent the assets to repay the loan.

The MoU and its impact on banking and real estate

As the Cyprus economy has been in a downward spiral for two to three years, it would be unfair to argue that the MoU with our international lenders is responsible for the fall in property values and demand.

Redefinition of non-performing loans

Changes to the definition of non-performing loans to comply with European and IFRS accounting standards are necessary to restore Cyprus’ credibility as a regional financial hub.

Property tax legislation has utmost priority

A bill on Immovable Property Tax, a prerequisite for the payment of the first instalment of the Cyprus bailout, is being drafted and will be placed before parliament as soon as possible.

Revised Cyprus EU bailout terms leaked

Update 4th April 2013 – The revised Memorandum of Understanding between Cyprus and the EU has been leaked to the press and appeared exclusively in today’s edition of the Greek language newspaper Phileleftheros.

Problems will continue after property tax shakeup

Significant changes to the way Immovable Property Tax is to be calculated are contained in the island’s bailout conditions bringing to an end the use of 1980 values but leaving some problems unsolved.

Cyprus draft bailout conditions leaked

The draft MoU between the government and the Troika is in the public domain. We summarise the specific points in the Memorandum of Understanding relating to the housing market and immovable property regulation & taxation.

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