Archive for Category: Licenses & Permits

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Cyprus: Who are the Wealthy Elite That Bought EU Citizenship?

A leaked list of names reveals the extent to which Russian and Ukrainian politically elite have driven Cyprus’s citizenship-by-investment schemes which, according to the government, has generated over €4B in Cyprus based investments since 2013. Prior to 2013, Cypriot citizenship was granted on a flexible basis by MPs, in...

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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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Who are the main runners in the bidding war for the Paphos Marina project?

The Paphos Poseidon consortium whose plans to build a new marina were rejected, have stated they will launch an appeal with the Cyprus Supreme Court, citing unlawful decision making. Poseidon’s bid was recently rejected by the Marine Management Committee after the Chamber of Commerce in Paphos claimed the consortium...

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Acquisition of Title Deeds for a Cyprus Property

When purchasing a property in Cyprus, the title deeds are important legal documents that secure and clarify ownership of the land/building. You may also hear them being referred to as Certificates of Registration of Immovable Property or simply a Certificate of Ownership. In the event of a dispute arising...

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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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