Seminar regarding legal regulations for property ownership and leasing in Cyprus

Vestnik Kipra has announced a seminar titled 'Real Estate in Cyprus: User Guide' focusing on the legal and tax responsibilities for foreigners, particularly Russian citizens, purchasing and managing property. The event addresses the requirement for non-EU citizens to obtain specific permission from the Council of Ministers of Cyprus to acquire property and details restrictions on the number of objects one can own. Key topics include the legal process of purchasing new or resale property and the necessity of obtaining official authorization to generate rental income. The seminar aims to dispel common myths regarding tax evasion and the legality of informal rental agreements. Participants will learn about mandatory reporting to authorities in both Cyprus and Russia to avoid potential sanctions. Additionally, the program covers apartment ownership obligations, managing utility disputes, property maintenance rules, and the legal procedures for tenant eviction.