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Immovable Property
Amnesty Plan for Unauthorized Constructions in Immovable Property
The new Urban Amnesty Plan was approved by the Council of Ministers and it came into effect immediately for a period of only six months. Applications are officially accepted from 23/09/2024 until 23/3/2025. The amnesty main goal is to allow people to legalize unauthorized constructions in approved developments that involve small-scale planning violations that do...
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Changes on the applicable VAT rate relating to primary residence in Cyprus were introduced in June 2023 with Law 42(I)/2023 and in April 2024 with Law 55(I)/2024. Specifically, Law 42(I)/2023 amends the conditions for applying the reduced VAT rate of 5% to the acquisition or construction of new residences. The revised conditions are as below:...
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