THE LAW on foreclosures of mortgaged immovable properties, passed recently by the House of Representatives, will contribute to the return of clients to the negotiating table, high ranking bank officials in Cyprus have said, noting that massive foreclosures processes are not the purpose of the law....
BEFORE parliament breaks for the summer break, the government intends to bring new legislation addressing the problem of thousands of home buyers trapped without Title Deeds, Interior Minister Socratis Hasikos said on Thursday, calling on banks to assume their responsibility.
“Very soon, we will...
CYPRIOT banks will be able to sell loans to third parties licensed by the Central Bank of Cyprus, with the regulator reserving the right to intervene in the foreclosure process to preserve monetary stability, according to the provisions of two draft bills leaked on Monday.
The two bills were...
FOLLOWING the recent visit to Nicosia by teams from the International Monetary Fund (IMF) and the European Commission (EC), in liaison with the European Central Bank (ECB), to review Cyprus’s economic reform programme, staff-level agreement has been reached on policies that could serve as a basis...
THE government plans to draft legislation “very soon,” integrating immovable property tax (IPT), Interior Minister Socratis Hasikos said on Thursday.
The minister said the government was planning to submit the bill integrating state and municipal taxes before parliament closed for the summer...
