The last financial year in Cyprus saw one of the biggest periods of growth in recent years, with financiers citing economic symptoms similar to a boom. Especially regarding property sales and investments on the island, with similar growth in tourism; nominated investments for the Cyprus passport scheme; and demand...
The passport-via-investment market first came into existence in the 80's, when the exotic islands of St Kitts & Nevis first decided to bring additional foreign investment into the country in return for passports. Countries across the world copied the concept with their own schemes to provide foreign investors with...
The Cyprus Energy Ministry released an update regarding the saving scheme for first time home owners in Cyprus. They can now apply to receive funding towards an upgrade to homes on behalf of the Energy Ministry which has been acted out for all natural persons who permanently reside in...
Actions aiming to abolish the right of access to land or property in Cyprus are considered to be a violation of the right to possession of land or property. This automatically extends in favour to the owner of the dominant property whereby the right of access works is...
The Cyprus Central Bank has recently released their Residential Property Price Index quarterly report that shows the price of residential property on the island, namely houses and apartments have continued to rise on an annual basis during the fourth quarter of 2017. According to the 2017 figures collected towards...
The process of disposing of a property in a will is similar to the disposal of property by way of a gift during one’s lifetime. The distinction between the two is that in a will, the departed benefactor cannot arrange the entirety of his property to whom he...
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...
There are opportunities for those living in Cyprus permanently to increase the energy saving of their homes through the “I Save, I Upgrade” scheme, which is co-funded by both the Cyprus Government and European Union for all homeowners on the island after the first scheme garnered so many applications....
The Council of Ministers has responded to criticisms and has announced that the island will be limiting the number of naturalisations of investors granted under the citizenship by investment scheme to 700 a year going forward, starting this year. The citizenship-by-investment scheme will also be renamed the “Cypriot Investment...
Following comments from the troika on the particularly high levels of non-performing loans (NPLs) within the property market, the Cyprus government is formulating suggestions to recover the liquidation and foreclosure legislation. Speaking at the Economic Congress in Nicosia, the Cyprus Finance Minister stated that depending on investor interest in...
