Municipal tax rates
In Cyprus, this year, changes are expected in the calculation of the municipal tax rate on real estate. Previously, the tax was calculated based on the value of real estate for 1980, but now based on the year 2013. This decision was made with the aim of getting into the local budget.
This decision will only affect those owners whose plots were registered in 1980, but subsequently the house was built on it, as well as the amount of payment for those whose property is located in the development zones that are subject to zoning. Accordingly, these changes will not affect the owners of new plots and houses.
These changes should significantly increase the budget allocations – approximately more than one million euros.
The municipal authorities can calculate the rate of the municipal property tax according to the formula 0.024% from every 1000-chi of the value of real estate, but, at the same time, for different regions, the rates are different. For example, Limassol uses the above rate, while in Larnaca the rate is 0,023%, in Paphos 0,019% and else
Read all news
5 reasons to hurry up to invest in property in Cyprus
At the moment, the real estate market in Cyprus is very active, with a good response from buyers: houses and apartments with an optimal price-quality ratio diverge quite quickly. Timely investment in Cyprus real estate opens up the possibility of business diversification and guarantees a stable income. Taking into account the time factor, popular wisdom […]Read more
Temporary residence permit for the whole family – Pink Slip
Grounds for obtaining a Pink Slip in Cyprus for foreign citizens. To obtain a Pink Slip residence permit in Cyprus, at least one of the following conditions must be met: In order to obtain a Pink Slip residence permit with the possibility of its subsequent extension, it will be necessary to submit the relevant documents […]Read more
TOP – 10 questions when buying property in Cyprus
If this is your first transaction in Cyprus, it is better not to take risks and act through a realtor or organization. You can contact our experts for advice and direct assistance. Remember that the independent execution of all papers is a long, complicated and often incomprehensible process. Documents in a foreign language are perceived […]Read more
Buying property in Cyprus is the right investment
Buying a property is still the most profitable investment in Cyprus. This is because local residents have no other alternatives where they could invest money. By the way, interest rates on deposits remain at a very low level: 1.29% for individuals and 1.27% for legal entities. In turn, the Cyprus Stock Exchange also offers a […]Read more
INVESTMENTS PROJECT: Operating HOTELS – 4, 5 stars
INVESTMENTS PROJECT: Operating HOTELS – 4, 5 stars Our company offers professional services for the selection of the best investment projects in Cyprus! Today there are 4 operating hotels on the first line from our partners – the owner. Equity participation and full acquisition is possible. Detailed information – on request! CONTACT THE BEST IN […]Read more