Archive for Category: Cyprus Legislation

Cyprus Property: Stricter Legislation for Lenders Increases Borrower Protection

Cyprus recently implemented an EU Directive, introducing a number of regulations and obligations upon lenders and credit institutions which significantly protects borrower’s interests when granting of housing loans. The legislation governs loan agreements that are secured with mortgages or similar securities relating to immovable properties used for housing purposes....

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Buying a Permanent Home in Cyprus for Relocation & Living

Who can buy property in Cyprus? If you are planning to permanently relocate, or use your Cyprus property to live permanently, there are many tax advantages to owning only one property and making yourself a permanent tax resident. EU citizens have the right to live and work anywhere within...

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Finance your Home with Eltoma Property: How to Apply for a Mortgage in Cyprus

According to recent figures, Cyprus has one of the highest percentages of approval rates for granting loans within Europe, more specifically to non-Cyprus residents. Eltoma Property can assist both residents and non-residents with obtaining a mortgage for property or land in Cyprus, the application procedure with our associate banking...

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Are Cyprus high-rise buildings in line with modern fire safety regulations?

Following rising concerns from the recent Glenfell tower block fire that killed many people in London, authorities in Cyprus have been responding to concerns about the fire safety measures in the influx of tall buildings scattered across the island with skyscrapers planned in Limassol. Fire safety officials have reassured...

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What is the Government Mitigating the New VAT Charges on Land sales in Cyprus?

The EU is putting pressure on the Cyprus government to introduce VAT (currently at 19%) on all building and development land sales in Cyprus, or be liable to face hefty fines from the European Commission unless it implements the EU VAT Directive of 2006 into national law. Experts have...

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Employer’s Obligations in Cyprus: Who is Covered?

Employers in Cyprus have an obligation to their employees, applicable to the terms and conditions as specified in the relevant contractual agreement. In the event of any disagreements arising, the Department of Labour will offer support and protection in case of any breach of contract by the employer. However,...

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Property Buyers in Cyprus Waiting for Title Deeds After Court Suspends Aid

The Cyprus land registry has released its decision to suspend procedures regarding the “trapped buyers” problem that has rendered buyers of properties on the island unable to claim title deeds of the land even after rightfully purchasing the property. The legislation was designed to help these buyers obtain the...

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