THE CYPRUS ‘trapped buyers’/’hidden mortgage’ law enables property buyers to get the Title Deeds for the property they purchased despite the fact that their transfer was blocked because their developer was either unwilling or unable to settle his relevant debts.
However some problems...
Photo credit: Dolphin Capital Investors
ARISTO Developers announced on Friday it has come to an agreement with the Bank of Cyprus for the full repayment of all the Group’s loans, amounting to €283 million.
“Through a debt-for-assets swap arrangement, Aristo Developers...
MORE than 306,000 taxpayers will be called on to pay Immovable Property Tax worth €65.3 million, if the new 0.05% property tax rate is passed by the House of Representatives.
The government expects to collect only €44.4 million of the €65.3 million due, however, due to a promised...
THE BANK OF CYPRUS has begun auctions of foreclosed immovable property, signalling the first auctions under the new foreclosure legal framework implemented as part of a €10 billion bailout by the EU and the IMF.
The property placed into auction was foreclosed by the bank against non-performing...
FINANCE Minister Harris Georgiades on Monday appealed to MPs to pass government legislation overhauling and streamlining the Cyprus immovable property tax (IPT) system before the parliament’s summer recess.
“If you do not pass it now, before parliament breaks for summer, the legislation will not...
