Licensing Your Airbnb Property in Cyprus
Corporate and Conveyance Cyprus Lawyers G. KOUZALIS LLC, would like to provide you with information of licensing your Airbnb property in Cyprus.
- Register with the Tax Department
Before applying for a rental license, ensure you’re registered with the Cyprus Tax Department. You’ll need a Tax Identification Number (TIN).
- Prepare Required Documentation
Gather the following documents:
- Proof of Identity: Valid identification for the applicant.
- Certificate of Occupancy: Confirms the property is suitable for habitation.
- Insurance Coverage: Policy covering fire and civil liability.
- Property Details: Information about the property’s location, number of bedrooms, and maximum guest capacity.
- Submit Application Online
Complete the registration form available on the Deputy Ministry of Tourism’s website. Submit the form along with the required documents in PDF format.
- Pay the Registration Fee
A fee of €222 is required for the registration, which is valid for three years.
- Include Registration Number in Listings
Once registered, you’ll receive a unique registration number. This number must be displayed on all advertising platforms, including your Airbnb listing.
Penalties for Non-Compliance
Operating a short-term rental without proper registration is a legal offense in Cyprus. Penalties include:
- Fines: Up to €5,000.
- Imprisonment: Up to 1 year.
- Additional Fines: If the offense continues post-conviction, further fines of €200 per day may be imposed.
Taxation and VAT Obligations
Income generated from short-term rentals is subject to taxation:
- Income Tax: Applicable if annual rental income exceeds €15,600.
- Value Added Tax (VAT): A 9% VAT may apply, depending on specific circumstances.
Property Categories Eligible for Registration
The following property types can be registered for short-term rentals:
- Furnished Villas: Independent units with private access and exclusive use of the land.
- Furnished Residences: Homes in a row or complex with autonomy and private or shared access.
- Apartments: Complete, separate, and independent units within a building. crpg.com.cy
You can contact Cyprus lawyers G. KOUZALIS LLC who can provide guidance tailored to your specific situation and help ensure full compliance with all regulations.
Disclaimer: This article is provided for informational purposes only and does not constitute legal advice. Readers are advised to consult with legal professionals for advice specific to their individual circumstances.