Skip to main content

Cyprus’ foreclosure regime

Legislative amendments

The Supreme Court of Cyprus rules on the constitutionality of amendments to foreclosure legislation.

In July 2019, the House of Representatives of Cyprus passed the following laws (the “amending laws”) in relation to the foreclosure regime in Cyprus:

  1. The Suspension of Foreclosure of Immovable Property Proceedings (Temporary Provisions) Law of 2019; and
  2. The Transfer and Mortgage of Immovable Property (Amending) (No.2) Law of 2019.

The amending laws were not immediately put in force, but were referred by the President to the Supreme Court of Cyprus to rule on their constitutionality.

On 3 June 2020, the Supreme Court held that the laws were in line with the Constitution. Following this, the amending laws were published in the Official Gazette of the Republic of Cyprus and came into force on 12 June 2020.

Download the article to find out more information, including the Key provisions of the amending laws.

Foreclosure process overview & 2020 updates

Legal services in Cyprus are provided by Hadjianastassiou, Ioannides LLC. 

Deloitte Legal means the legal practices of DTTL member firms, their affiliates or their related entities that provide legal services. The exact nature of these relationships and provision of legal services differs by jurisdiction, to allow compliance with local laws and professional regulations. Each Deloitte Legal practice is legally separate and independent, and cannot obligate any other Deloitte Legal practice. Each Deloitte Legal network practice is liable only for its own acts and omissions, and not those of other Deloitte Legal practices. For legal, regulatory and other reasons, not all member firms, their affiliates or their related entities provide legal services or are associated with Deloitte Legal practices.

Hadjianastassiou, Ioannides LLC is a private lawyers’ limited liability company registered in Cyprus (Reg. No. HE227297), regulated by the Cyprus Legal Council and the Cyprus Bar Association  (www.cyprusbarassociation.org) (CBA Reg. no. 22). List of board members is available at our registered office.

Did you find this useful?

Thanks for your feedback

If you would like to help improve Deloitte.com further, please complete a 3-minute survey