CYPRUS MINISTRY OF TOURISM: DON'T FORGET TO RENEW SHORT-TERM RENTAL LICENSES

On May 15, the Ministry of Tourism of the Republic of Cyprus reminded homeowners, apartment, and villa owners who rent out their properties on a short-term basis about the need to timely renew their licenses. The re-registration process must be completed online on the Ministry of Tourism's website. The cost of the renewed license, which is issued for a period of five years, is 222 euros.

Licenses need to be renewed within three months before the expiry date of the current license. Those who miss the deadline will have to go through the registration process again, providing the full set of documents (property titles or building permits, a copy of the passport or ID, an electricity bill indicating the address, and an application in PDF format). The new license will be issued for three years.

The Ministry of Tourism reminds that renting out a house, apartment, or villa on a short-term basis and advertising them on rental platforms is only permitted if the properties are listed in the ministry's registry. The registration number indicated in the registry must be included in all advertising and promotional materials, as well as in all invoices on which rental payments are based.

The authorities of the Republic of Cyprus emphasize that renting out properties on a short-term basis without registration is considered a violation of the law. Penalties include a prison term of up to one year and/or a fine of up to 5,000 euros. If the violator continues to rent out the property after being found guilty, the fine amounts to 200 euros for each day the property is rented out.