Archive for Category: Cyprus Legislation

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Non-Performing Loans: Where is the Middle Ground for Cyprus Lenders?

  A significant repercussion from Cyprus’ 2008 financial crisis was the recent closure of the Co-operative bank; due in part to the strict punishments enforced by the Cypriot authorities, the bank was famously unable to recover financially and filed for bankruptcy. Mr Kyrytopoulos Konstantinos, a Finance Professional from the...

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Cyprus 2018: Charging VAT on the Sale of Land by Individuals Conducting Economic Activities

As per the amendments to the Cyprus VAT Law N.95(I)/2000, authorities in Cyprus now imposes VAT to be charged on all sales of undeveloped building land by individuals exercising economic activities. What constitutes economic activities? Article 3 of the aforementioned VAT Law, precisely states business to mean any economic...

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Cyprus Property Owners to be Notified of Any Significant Change in Property Value

  Last week, the Cyprus supreme court passed legislation mandating the obligation to inform all property owners on the island of any significant change in the value of their property as reasonably held by the Cyprus Land Registry. The legislative proposal was passed by a unanimous vote in Cyprus...

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