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Theodorou Law Firm
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Category Archives: Property

Insights: The Cyprus Digital Nomad Visa Scheme

Immigration, PropertyBy AdminJune 7, 2022

The Cyprus Digital Nomad Visa Scheme allows non-EU nationals and who either work for an employer registered abroad, outside of the Republic of Cyprus or are self-employed and can use digital technology to provide services for companies or clients located abroad, to reside temporarily in Cyprus.

Cyprus Property Law Update: Permanent Reduction to Property Transfer Fees

Property, Tax LawBy AdminJuly 31, 2016

The Ministry of Finance announced the permanent reduction of transfer fees.  The reduction was implemented by the enactment of the Land and Surveys Department (Fees and Rights) (Amendment) (No 2) Law of the 14.07.2016. Consequently the temporary arrangement which provided a reduction of 50 per cent of transfer fees until 31.12.2016 is now made permanent. According to…

Wills & Probate: The EU Succession Regulation “Brussels IV”

European Union Law, Property, Wills & ProbateBy AdminSeptember 30, 2015

In order to provide a simplified legal framework for people who have private and financial interests in at least two countries, both within and outside the European Union, EU Regulation 650/2012 (or “Brussels IV”) was adopted on 4 July 2012 (the “Regulation”). The Regulation entered into force on August 17th, 2015 and is applicable to…

Wills & Probate: Forced heirship provisions now apply to British citizens

Property, Wills & ProbateBy AdminJuly 12, 2015

The Wills and Succession Law determine who will inherit a person’s estate when they pass away.  Cyprus succession law provides for “forced heirship”. The rules of forced heirship in Cyprus are fairly complex and inheritance depends upon which family members survive the deceased. The significance is that law determines who will inherit a person’s estate…

Cyprus Property Law: Immovable Property Tax 2014

News, PropertyBy AdminJuly 24, 2014

The Cyprus Tax Department announced that the immovable property tax for the year 2014 must be paid until the 30th of November of 2014. If the tax is paid fully by the 31.10.2014, then the tax payer will receive a discount of 15% on the tax payable. Conversely, if the immovable property tax is paid…

Wills & Probate: Cyprus Probate (Re-Sealing) Law

Property, Wills & ProbateBy AdminApril 1, 2014

The legal doctrine of “Lex rei sitae” provides that the law of the country where immovable property (house or land) is situated governs the transfer of title to property. With regards to immovable property registered in the name of diseased persons, irrespective of the country where the death has occurred, Cyprus law applies to such…

Cyprus Property Law Update: Amendment to Immovable Property Tax Law

News, PropertyBy AdminSeptember 30, 2013

Under amendments to the Immovable Property Tax law, owners of immoveable property property in Cyprus are now liable to pay an annual tax to the Inland Revenue on their aggregate property holdings as of the 1st of January 2013, on the basis of the assessed valuation as at 1 January 1980. For subsequent tax years,…

Cyprus Property Law Update: Penalty fees imposed for late filing of Contracts of Sale

Property, Tax LawBy AdminSeptember 13, 2013

Following the amendment to Contract Law, Cap 149 by Law 99(I)/2013, a penalty fee is now imposed on purchasers of   immovable property in the event that they delay filing their contract of sale at the District Land Registry Office. Under the provisions of the amending legislation published on the 09.09.2013, purchasers of immovable property who…

Cyprus Property Law Update: Payment of Immovable Property Tax

Property, Tax LawBy AdminJuly 13, 2013

Following the amendment of the Immovable Property Tax Law, all owners of immoveable property property in Cyprus are liable to pay an annual tax to the Inland Revenue on their aggregate property holdings as of the 1st of January each year, on the basis of the assessed valuation as at 1 January 1980. The legislation…

Cyprus Property Law Update: Amedment to Immovable Property Tax – New Tax levies

Property, Tax LawBy AdminMay 2, 2013

Following the amendment of the Immovable Property Tax Law (No. 24/1980) on the 30.04.2013 by Law 33/2013 , all owners of property in Cyprus are now liable to pay an annual tax to the Inland Revenue based on their aggregate property holdings as of the 1st of January each year, on the basis of the…

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Nicholas A. Theodorou & Co LLC ("Theodorou Law") is a Cyprus law firm with Cyprus lawyers and other legal experts on legal matters involving Cyprus law and EU law. © 2022 Theodorou Law
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