Legislation | Limnaria Gardens

LEGISLATION IN CYPRUS

MINISTRY OF TOURISM

It is compulsory for all property owners to be licensed if they want to advertise and/or rent their property out to short term and holiday guests (like AirBnB, Booking.com, TripAdvisor etc.).

All self-service accommodation establishments must comply with the provisions of the law; or you will not be able to rent your property out .

Without the licence number AirBnB and other booking channels are prohibited from paying your rental income.

CLICK HERE to read the full circular as issued by the Deputy Ministry of Tourism.

Make sure you have your licence to avoid paying a fine or being arrested.

IMMOVABLE PROPERTY LAW

The Immovable Property (Transfer and Mortgage) Law, No. 9/65 regulates mortgages of immovable property and sales of mortgaged property. It requires mortgages to be registered at the Department of Lands and Surveys. It provides for transfer fees payable on the transfer of immovable property.

CLICK HERE for more info

SWIMMING POOL LAW

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In order to operate a public swimming pool at Limnaria Gardens, we needed to obtain a licence for the operation of a public swimming pool by Municipality of Paphos.

The term “public swimming pool” refers to swimming pools that are intended for use by the general public or groups of people such as members of unions, educational institutes, hotels, tenants of apartment complexes etc irrespective of the swimming pool’s ownership and/or usage fee charged; the term does not include the swimming pool intended exclusively for use by the members of a family and /or their invitees.

CLICK HERE to read the Cyprus Swimming Pool Laws (is in Greek).

Being tax compliant is critical to avoid any tax penalties:

any person that neglects to settle any taxes owed is guilty of an offence and liable to a monetary fine up to €5,000 and/or up to 2 years imprisonment;

without a tax clearance as the sellers you will not be able to sell your property, nor will your estate in Cyprus be able to be wound up.

In Cyprus the law states there is a tax obligation on rental income which includes a GESY contribution and possibly registering for VAT .

CLICK HERE for more info to make sure you are tax compliant.

YOUR TAX OBLIGATIONS