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Cyprus > Legal Developments > Real Estate & Property > Law firm and leading lawyer rankings

Editorial

Press releases and law firm thought leadership

This page is dedicated to keeping readers informed of the latest news and thought leadership articles from law firms across the globe.

If your firm wishes to publish press releases or articles, please contact Shehab Khurshid on +44 (0) 207 396 5689 or shehab.khurshid@legalease.co.uk

 

New Beneficial Ownership Register for foreign entities which own UK property

The UK government intends to introduce a new register of People with Significant Control over Overseas Companies, “the PSCOC Register”, in order to improve transparency of beneficial ownership for foreign entities which own UK properties. The Bill will be introduced to Parliament in 2019 and is intended to become operational by 2021.

Pre-1995 Leases in Malta

Recently, the Maltese courts may have possibly brought about the beginning of the end of a legal and social question concerning landowners who were, and still are, subjected to pre-1995 rent laws. The judgement given in Anthony Debono et v. Avukat Generali et., may prove to be a milestone in Maltese rent laws.

Increase of Property Rents in Cyprus: Permissible and Non-Permissible Limits

It has been many times that my clients have expressed the question as to when and how the rental amounts increase.  This question is voiced by both Landlords and Tenants of real estate.

Cyprus Scheme of Investors Naturalisation

New and updated Regulation on the Naturalization (Citizenship) of Investors in Cyprus byInvestment on the basis of subsection (2) of section 111A of the Civil RegistryLaws of 2002-2015

The Council of Ministers of theRepublic of Cyprus, on the 13th of September 2016 has issued an amendedRegulation in relation to the Scheme for Naturalisation (Citizenship) ofInvestors in Cyprus by Exception.

One of the main objectives ofthe economic policy of the Republic of Cyprus is to further encourage ForeignDirect Investment and to attract high net worth individuals to settle and dobusiness in Cyprus.

Key factors that make Cyprus anattractive destination for investment, is the highly specialized human capital,the reliable legislative and regulatory framework, the stable tax system andthe safety and stability conditions prevailing in the country.

Within this framework and takinginto account the strong investor interest, the Government of Cyprus hasestablished and revised a "Scheme for Naturalization of non-Cypriotinvestors by exception" on the basis of subsection (2) of section 111A ofthe Civil Registry Laws of 2002-2015, with specific incentives, terms andconditions and control procedures in order to prevent abuse.

Unjust Banking Practices in Swiss Franc Loan Agreements

The Cypriot banking system is currently being confronted with the issue of providing foreign loans and in particular Swiss francs to both locals and foreigners to cover their housing requirements. Of principle concern in Cypriot and European Courts are the banking practices used in attracting clients to these financial institutions. It seems that misinformation through the use of various means of bank notifications and practices point towards the use of the distortion and the concealment of essential information to borrowers. The Cypriot banking system (that is sanctioned by European banking) in the provision of Swiss Francs did not in most cases provide a complete and proper briefing of the risks involved in these types of loan contracts that also incorporated exchange and interest rate fluctuations.

Changes in the Cyprus-Passport-Investment-Scheme

On 13th of September 2016, the Cyprus Council of Ministers has approved the amendments to the Scheme for Naturalisation of Investors in Cyprus by Exception. The said scheme is based on subsection (2) of section 111A of the Civil Registry Laws of 2002-2015.

The Enforced Division of Land Plots Amongst its Co - Owners

 

In accordance with the Immovable Property Law in Cyprus the ownership of a plot may be held by more than one land owner in the same way as the English Anglo-Saxon land law.  The share of co-ownership may vary and can be distributed by the principle owner at his discretion.

 

APPLICATIONS FOR TRANSFER OF TITLE DEEDS: NEW LEGISLATION, NEW PROCESSES

APPLICATIONS FOR TRANSFER OF TITLE DEEDS: NEW LEGISLATION, NEW PROCESSES

INTRODUCTION:

A very significant change affecting immovable property Law in Cyprus was effected recently with the implementation of Act N139(I)/2015 (4/9/2015) which amends the transfer and Mortgage of immovable property Act of 1965 until (no.10) 2015, with the addition of certain new provisions.

The Republic of Cyprus Integrated Casino Resort

The Operations and Casino Control Legislation of 2015 was enacted by the Cyprus Parliament into Law upon its publication in the Official Gazette of the Republic on July 21st 2015. 

New General Property Valuations in Cyprus

The amended Immovable Property (Tenure, Registration and Valuation) Law of 2014 (L.110(I)/2014) puts into effect the new General Valuation of Land at prices as at 1.1.13. The new valuations were conducted in four stages by the department of Land and Surveys based on the natural and legal characteristics of the property in compliance with the provisions of the Memorandum of Understanding and they will replace the Valuations so far as at 1.1.1980.     

Purchasing Immovable Property in Cyprus

Cyprus is an  attractive destination for foreign investors, retirees and individuals or families looking for a holiday home or a new working environment. Cyprus' accession to the European Union has made the island an even more attractive candidate for the purchase of immovable property. ESME PALAS, an advocate of MICHAEL KYPRIANOU & CO. LLC, outlines the two most important legal issues the purchaser needs to be aware of when acquiring immovable property in Cyprus.

Criteria and conditions for the grant of citizenship to foreign investors and businessmen

December 2011 - Real Estate & Property. Legal Developments by Kinanis LLC.

More articles by this firm.

On the 10th of October 2011 the Council of Ministers of Cyprus issued a new decision laying out the criteria and conditions for the granting of Cypriot citizenship by exemption, aiming to attract wealthy businessmen and foreign investors, who desire easier access beyond their borders. By virtue of the new decision the threshold values of the direct investments, entrepreneurial activities, and bank deposits have decreased considerably.

- Kinanis LLC

December 2011 – Property Division of Kinanis LLC

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