happy new year to you, and yours. Yes, I had heard before that it is illegal to rent an apartment, but my question is, "Exactly where is this law written on this", and assuming that it is, how could a court prosecute anyone who didn't have title deeds?
Somehow, i think the idea of anyone coming before the courts on this one is a bit off the mark, although i appreciate that you have not suggested this. There really are times, when i wonder why Cyprus was allowed to become a member of the EU, they seem to be a law unto themselves on most issues, but i feel that the countries finances will bring a hell of a lot more scrutiny on it from the EU in the near future. It's legal, and financial irregularities will not be tolerated for much longer
Well in this, if you think about it logically it is entirely right that people are not allowed to rent to holiday makers because without a licence to do so, how can it be possible for anyone to check whether all the safety obligations are in place?
Hotel and holiday apartments, presumably, have to satisfy all sorts of laws and safety regulations to be allowed to operate. A private apartment could never satisfy that requirement because too many other people are involved.
There is a thread on another forum where a woman has been visited by the CTO and threatened with prosecution.
Well if that is the case, I will have to give renting a wide birth too. It is very strange why there is so many apartments for rental and building non stop abroad. Also why was there so much overseas property being advertised and big day events to sell property abroad for second income. Would these people be liable for prosecution, for misleading the property rental market overseas in UK countries etc????
The web is full of it, the text seems to be standard and it all revolves around the CTO, to quote:
Cypriot law is clear on the subject of property letting: non-residents arenít permitted to let property on a short-term basis to holidaymakers, although they can let long-term to Cypriot residents.
Letting a property on a short-term basis to holidaymakers is illegal unless you apply to the Cyprus Tourism Organisation (CTO) to have the property certified for holiday letting.
This is permitted only on detached properties, and certification can be a long and complicated procedure.
There are many estate agents and developers who can help with this, but make sure you get independent legal advice before you commit yourself financially.
The CTO will then inspect your property in the same way that it inspects any tourist accommodation and will charge you 3 per cent of the expected income from the property annually.
You must pay this charge even if you donít receive the estimated projected income (or any income at all!).
If youíre planning to let property on a community development, you must also check whether there are any community rules that prohibit or restrict letting, aside from the legal restrictions. You may also be required to notify your insurance company.
If you arenít a resident of Cyprus and youíre planning to buy property to let, you must take professional legal advice before commiting yourself.
If you let a property in Cyprus, youíre required by law to pay tax on your rental income in Cyprus even if the income is received in another country.
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