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ARTICLE · 12 MAY 2021

The Airbnb Regulations In Cyprus

AGPLAW | A.G. Paphitis & Co. LLC
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The island of Cyprus being considered a hot spot for tourists, welcomed 4 million people in 2019 bringing 2.7 billion euros in revenue. Clearly, one of the island's largest sources of income is tourism.

CyprusTax
AGP Law/ A.G. Paphitis & Co. LLC
AGP Law/ A.G. Paphitis & Co. LLC
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The Rules | The Fines | The Grace Period | The Application | The License

The island of Cyprus being considered a hot spot for tourists, welcomed 4 million people in 2019 bringing 2.7 billion euros in revenue. Clearly, one of the island's largest sources of income is tourism. This has created an alternative market for accommodation. The obvious choice being hotels with plenty on offer in Cyprus, there are also many people who prefer a more personal cost efficient experience when traveling.

Platforms such as Airbnb have become very popular among holidaymakers. Owners of properties have managed to exploit their properties and generate higher levels of income through operating as a self-catering accommodation. Their clients will often not only get a better priced accommodation but properties will vary in style, size and location giving them a more personalised option closer to everyone's different needs.

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