EU real estate agents free to operate in Cyprus
THE EUROPEAN COMMISSION has decided to terminate the infringement proceedings against Cyprus relating to the Law on estate agents, which restricted the activities of professionals from other Member States.
Following the Commission’s action, estate agents from the European Union are free to establish themselves and exercise their activities in Cyprus.
The Cypriot Law 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 were allowed to work there only in collaboration with a Cypriot agent. Finally, a firm operating as an estate agent could not engage in other activities, and its employees could work only for that firm.
The Commission had received complaints from professionals who were unable to work in Cyprus, either because they could no longer do so as a result of the Law of 2004, or because their professional qualifications were not recognised. The Commission then started infringement proceedings and in October 2009 sent a reasoned opinion to Cyprus (IP/09/1476).
A Law removing the obstacles identified by the Commission was adopted on 17 July 2010.
European Union 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.
Category : Cyprus Real Estate News
