The Ministry of Interior is reviewing options
Source: in-cyprus.com
The legislation governing the acquisition of property in the Republic of Cyprus by third-country nationals is full of holes. We first raised the issue back in January, when a draft law highlighted many of its weaknesses.
At the time, it emerged that even a man wanted for illegally seizing Greek Cypriot land in the Turkish-occupied north was able to purchase property in the Republic with ease — and without proper checks. Yesterday, Phileleftheros revealed yet another loophole, this time raised through a parliamentary question.
The positive development is that the Interior Ministry now acknowledges there are shortcomings and says it is moving to correct the distortions.
Following our latest report, the ministry issued a new statement in response to our questions. It reads: “The Interior Ministry is working on various scenarios to improve the outdated provisions of the legislation. The issue is being examined holistically, given the interaction with other existing laws and draft bills currently before parliament. Furthermore, any changes to the legal and institutional framework will have implications which cannot be assessed in isolation, but must be weighed against a broad range of state policies and economic sectors.”
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The original article: in-cyprus.com .
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