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 tra...

The President announced €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...

The Development and Production Plan for the “Aphrodite” natural gas field

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 li...

Cyprus News , A glimmer of hope for tourism in 2021

Cypriot hoteliers were hopeful on Tuesday that tourism would slowly recover this year after tour operators in the UK reported a surge of around 600 per cent in holiday bookings, with Cyprus among the top destinations. A slew of bookings for the island and other destinations were reported in the wake of UK Prime Minister Boris Johnson’s road map to exit lockdown and ease ...