Cyprus cuts some of the costs, to make it more affordable to invest

Cyrpus have extended the rules on property purchasing, making it cheaper to invest in Cyrpus for the short term.  With the pound been stronger against the Euro, it all looks good for investment

The rule for no transfer fees if the property is subject to VAT, or half when the property is
exempt (subject to provisions as before), is extended until the end of 2012
The rule for reduced 5% VAT on the first residence (subject to provisions as before) is extended to include all foreign buyers provided that they will use the property as their
main and permanent place of residence in the Republic of Cyprus.



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