Rent Private Villas in Protaras
AirBnb Protaras Holiday Villa Rentals
New Tax Legislation coming
Alone for Protaras Airbnb shows more than 300+ Listings (for the whole of Cyprus Airbnb lists an estimated 40.000 properties or lodgings)
The Government is currently looking into a law which would make it compulsory to be on a type of Register and of course raise some tax revenue from the Owners of those listings.
At the moment Airbnb Listings in Cyprus are NOT regulated by the CTO (Cyprus Tourist Organization) and thus do not have any obligation like other short term rental properties have (for example to have a First Aid Kit or Fire Extinguisher on the Premises)
Under the legislative proposal, where a household’s income from rentals is over €15,600 these rentals will need to register a VAT number. Also, in some cases it will allow people who rent out premises for commercial purposes to sub-let them. Concerning the rental of apartments for tourism purposes, MPs have inserted a clause requiring that their owners must beforehand secure the consent of the other owners and/or tenants in the same building block. Myrianthous said that effectively the bill will provide for the licensing of self-catering lodgings under “comparatively less stringent procedures.” A dedicated registry is to be created for these residences, villas and apartments. This will be a different registry to that already in existence for hotels and tourist accommodations. Each property thus registered would be assigned a number, which will be used in online advertising platforms so that punters may know whether the property in question is registered or not.