Cyprus MPs push for full bill on foreign property buyers, firms included
Parliament's interior committee wants the government to draft a comprehensive law covering companies as well as individuals buying property in Cyprus, with talks resuming in two weeks.
Lawmakers on the interior committee are urging the government to bring forward a complete bill governing property acquisitions by foreign buyers, arguing that rules limited to individuals would leave an easy loophole. As reported by the Cyprus News Agency, the committee picked up its review of proposed amendments to the existing framework on Thursday.
The proposals under consideration aim to stop Cypriot companies from acting as go-betweens in purchases and to shield agricultural land and rural areas. Discussion is set to continue in 15 days, and the committee has warned it will start working through the proposals already on its table if the Interior Ministry does not deliver its own text soon.
Committee chairman Aristos Damianou said the matter touches state security, the economy and the country's future, and that regulating only individuals would be insufficient unless companies, funds and concealed buyers are also covered. DISY MP Nikoleta Konstantinou made a similar point, noting that a buyer could simply use a company to get around size limits set for individuals.
What it means for residents
For anyone living on the island, the shape of these rules matters beyond the headlines about foreign buyers: land prices, the character of villages and the availability of farmland all hang on how tight the final text turns out to be.
- Watch the calendar. The committee has set a two-week window — if no government bill appears, MPs will move on their own proposals, so the pace could quicken.
- Company purchases in focus. Rules are likely to target legal entities and hidden owners, not just named individuals, which affects how deals are structured.
- Farmland protection. Rural and agricultural land is explicitly on the table, which could affect owners thinking of selling outside towns.
This text is written from the source article and is not a translation of it.
