Property Transfer Fees REDUCED by 50%

CYPRIOT MPs voted unanimously to cut Property Transfer Fees by 50 percent as part of a wider tax reform package designed to modernise the island’s property tax system and encourage economic activity in the real estate sector. Transfer Fees Exemption: The reduced transfer fees will apply to all property sales and registrations of leases or subleases. In addition, the transfer fees payable on transfers of property from parent to child will be abolished together with the... Read More

PRESIDENT Nicos Anastasiades announces €60m worth of projects for Paphos

PRESIDENT Nicos Anastasiades on Monday announced €60m worth of projects for Paphos during the first stop on his ‘tour’ of all of the districts in Cyprus to announce development s plans. “I am pleased to announce new projects worth €60 million. The first of these is the regeneration of the traditional shopping centre and Kennedy Square at a cost of €6 million in total and work is expected to get underway in November 2015,” he s... Read More

Development and Production Plan for Block 12 submitted

The Development and Production Plan for the “Aphrodite” natural gas field was submitted on Wednesday afternoon to Cyprus` Ministry of Energy by the partners in Block “12” of the Cyprus Exclusive Economic Zone (EEZ). Noble Energy International Ltd, Delek Drilling Limited Partnership and Avner Oil Exploration Limited Partnership, holders of a license for the exploration of hydrocarbons in Block 12, also submitted the Aphrodite development Plan... Read More
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