Words: Ashley Rigg
Published: 12th October 2009
Cyprus accused of restricting access to overseas agents
The European Commission is to send a formal request to Cyprus concerning its national legislation which restricts the activities of estate agents from other member countries operating in the country.
In Cyprus agents must pass an examination proving knowledge of Cypriot real estate legislation. The Commission believes this discriminates against non-Cypriot EU citizens trying to establish themselves in property sales and goes against the principle of the free movement of goods and services across national borders.
The law means that many non-Cypriot agents choose to form partnerships with local agents and share commissions rather than selling direct. Local companies say the law is there to protect home buyers from ‘unscrupulous cowboys’ who parachute in to make a quick profit.
Full story from
Cyprus Property Magazine.
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