Insights
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New legislation introduces tax relief on low value property
On 26 September 2013, the Cyprus House of Representatives adopted an amendment to the Immovable Property Tax Law, which provides that immovable property owners, with total immovable property value not exceeding €12.500 (1.1.1980 prices), - Read More...
New EU proposals on damage claims related to violation of competition laws
The European Commission has adopted a proposal for a Directive on how citizens and companies can claim damages when they are victims of infringements of the EU antitrust rules, such as cartels and abuses - Read More...
Important guidance on the assessment of capital gains tax on Cyprus real estate sales
The Cyprus Supreme Court has recently adjudicated on the competence of the Director of the Department of Inland Revenue to reassess the value of a Cyprus property held by a Cyprus company, which was the - Read More...
Buying property in Cyprus made easier for non EU citizens
In an effort to boost the property market and enhance the attractiveness of Cyprus for foreign investment, Cyprus has implemented measures that allow for citizens of non EU countries to acquire more than one - Read More...
Cyprus implements modern legal framework on public tender review
In the context of the government’s overall policy to promote and assure transparency and efficiency in the public procurement process, the Tenders Review Authority (TRA) was initially established under the Law 101(I)/2003, and commenced - Read More...
Harris Kyriakides wins recognition in Corporate Real Estate
Cyprus introduces tax free period in regard to property transfer fees
Pursuant to an amendment introduced on the 3rd of November 2011 by the Cyprus Parliament, Cyprus has now abolished the payment of transfer in regard to real property transactions. This measure, aiming to stimulate - Read More...
Fast track residence permits for purchasers of immovable property in Cyprus
The Government of Cyprus has introduced a new policy which provides favourable treatment on applications of third country nationals who purchase private residence in Cyprus, the value of which is equal to or above the - Read More...
Overturn of cartel conviction for Petrolina
The Supreme Court has unanimously overturned a decision by the Competition Commission (CPC) to fine four fuel companies close to €43 million for collusion, after finding that the chairman of the CPC had been appointed - Read More...