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Cyprus lifts EU property agent restrictions

JohnLocke

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Dec 29, 2008
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Estate agents from the European Union are free to establish themselves and exercise their activities in Cyprus, following Commission pressure to persuade the government to remove a law that restricted the activities on the island of professionals from other member states.


The European Commission had initiated infringement proceedings against Cyprus because of the law that was considered us unfair.The local regulations had laid down conditions for the recognition of the qualifications of professionals from other member states, who were also required to pass an examination on the Cypriot Law.


Agents not established in Cyprus could work on the island, but only in collaboration with a local agent. Finally, a firm operating as an estate agent could not engage in other activities, and its employees could work only for that firm.


A Commission announcement said that “with the new change, EU estate agents can now choose to perform their activities in Cyprus and thus exercise their right to freedom of movement as guaranteed by the European Treaties. This situation will also be to the benefit of all citizens, who will have the option of contacting an estate agent near to them in order to obtain information with a view to acquiring a property in Cyprus.”
 

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