Paphos Life

This may affect some readers of the forum.

The owners of both new and existing accommodation offering self-catering accommodation with services, such as Airbnb will now have to register with the state under a new law passed by the House of Representatives on Friday.

https://cyprus-mail.com/2020/01/17/law- ... b-rentals/

Great News. Now we get OUR swimming pool, that WE pay for BACK.

Alan

Apart from the requirement to register, what changes? As far as I can see AirBnB/Booking.com rentals will still be allowed, just controlled.Plus a future probability that rent received may be taxed.

Varky wrote: ↑Sun Jan 19, 2020 11:03 am Apart from the requirement to register, what changes? As far as I can see AirBnB/Booking.com rentals will still be allowed, just controlled.Plus a future probability that rent received may be taxed.

Look at your last sentence and you´ll have the answer. I guess for a lot of people that will be quite a change.

jeba wrote: ↑Tue Jan 21, 2020 9:09 am

Varky wrote: ↑Sun Jan 19, 2020 11:03 am Plus a future probability that rent received may be taxed.

Look at your last sentence and you´ll have the answer. I guess for a lot of people that will be quite a change.

Why do all you keyboard warriors think that us holiday rental home owners don't declare our rental incomes?

JB,
I admit my posting might infer that, generally, renters were not at the moment paying tax, what I should have said that procedures were going to be put in place to ensure that all renters were declaring such income on their tax returns. However how would the new requirement cover foreign owners.

One further question is where does one register?

Registering was always the aim of the CTO - but it was impossible - to maintain quality.

As to earnings/losses - the owners of property ‘should’ be paying tax at source - residence. I.e. I let property from the UK. All earnings come into ~UK and I pay tax on any profits there.

Jimgward,
I understood that it was announced about a year ago that the CTO has been (or is about to be) disbanded. So I repeat my question. So I repeat my question, where does one register?

Varky wrote: ↑Tue Jan 21, 2020 12:54 pm Jimgward,
I understood that it was announced about a year ago that the CTO has been (or is about to be) disbanded. So I repeat my question. So I repeat my question, where does one register?

Just be patient, they've only just passed the law in Parliament.

Varky wrote: ↑Tue Jan 21, 2020 12:54 pm So I repeat my question, where does one register?

I think it's a new law that will require implementation and several Cyprus shrugs till the rules become clear, but I'm sure that, as with all CY officialdom, it will be a simple process!

Just hope it's well publicised.

The CTO has been replaced by a new Deputy Ministry of Tourism.

One effect of the registration regime is likely to be the refusal to register holiday lets outside tourist areas. Such lets have been illegal for many years but difficult to police. The result being that such lets won't be able to use Airbnb and Booking.com to get customers.

I know several owners of holiday lets who tried unsuccessfully to register with CTO. Unsuccessfully because the requirements were aimed at small hotels, with minimum requirements for number of bedrooms, size of covered area, plot, etc etc, which those owners with one or even two villas simply could not comply with.

If Cyprus makes it too difficult or too expensive to register and run a self catering villa or apartment, then Cyprus will lose out on a lot of tourism business, with a corresponding decline in many associated businesses (car hire, tavernas, supermarkets, places of interest, etc etc).

I would think that if anyone could not get the villa rental they wanted here in Cyprus, then perhaps they would look at self catering Hotels-Aparthotels. Just a thought.

Lincoln wrote: ↑Thu Jan 23, 2020 9:28 am I would think that if anyone could not get the villa rental they wanted here in Cyprus, then perhaps they would look at self catering Hotels-Aparthotels. Just a thought.

And therein lies the source of where the push for this law originates.