Insights
Insightful Perspectives with Meaningful Impact
Cyprus suspends foreclosure processes until 31 January 2023
Pursuant to an amendment to the Transfer and Mortgage of Property Law (the TMP Law), on 10 November 2022, the Cyprus Parliament introduced a suspension to foreclosure processes until 31 January 2023. The amending legislation - Read More...
Suspension of the foreclosure process until 31/10/2022
The Transfer and Mortgage of Property (Amended) (No. 4) Law of 2022 (the Bill) was adopted in Parliament on 14.07.2022 in order to reinstate the targeted suspension of the foreclosure process until the 31st October - Read More...
Supreme Court rules unconstitutional the bill on extending a moratorium on tenant evictions
The Rent Control (Temporary Provisions) (Amendment) (No. 3) Law of 2020, was ruled as unconstitutional by the Supreme Court following its referral by the President of the Republic of Cyprus.
Suspension of foreclosures involving primary residences or businesses premises or agricultural fields until end of July 2021
The Transfer and Mortgage of Property Law (Amending) Law of 2021 (Ν. 98(I)/2021) (the Law) was published in the government Gazette on 07.05.2021 in an effort to provide financial assistance and relief to borrowers who - Read More...
New Directive on Taxation of Proceeds from Foreclosed Property
Newly published Directive 09/2021 sets out the Tax Department’s process of determination of whether foreclosed property proceeds are taxed as Income or Capital Gains. Though undeniably enhancing transparency, whether it will reduce delays from non-submission - Read More...
Rental payments during the Covid-19 pandemic
As part of the new measures of support to businesses and self-employed persons which have recently been announced by the Government of the Republic of Cyprus for the purpose of mitigating the financial impacts of - Read More...
Suspension of foreclosures involving primary residences or businesses dwellings until end of March 2021
On 17.12.2020, the Parliament adopted the amendment of the Transfer and Mortgage of Property (Amending) (No. 2) Law of 2020 (the “Law”) with 31 votes in favour and 17 against. The law has been amended with - Read More...
Amendment of the Finance Leasing Law
On 05/06/2020, the Parliament adopted the amendment of the Finance Leasing Law of 2016 (72(I)/2016) (the “Law“) with 29 votes in favor, 14 against and 2 abstentions.
Amendments to the Transfer and Mortgage of Property Law N.9/65
On 02/08/2019, the Parliament has passed the Transfer and Mortgage of Property (Amending) (No. 4) Law of 2019 (the “Amending Law of 2019”) with 27 votes in favour of the proposed amendments and 23 against, - Read More...
Amendments to the Rent Control Law
On 24 January 2020 the House of Representatives of the Republic of Cyprus has passed an amendment to the Rent Control Law of 1983 (the “Law”) that aims to make the eviction procedure easier and - Read More...
Cyprus Regulates Official Translations
Cyprus has enacted a new law on the Registration and Regulation of the Services of Sworn Translators, which establishes the Registry of Sworn Translators and regulates official translations and related certifications.
District Court clarifies the status of charge/memo on real estate entered prior to the stay of a judgment debt
Under Cyprus law, a judgment creditor is entitled to submit and request the registration of a judgment comprising a monetary debt with the competent Land Registry and such registration immediately creates an encumbrance on the - Read More...