Thinking of having an AirBnB business in Cyprus? As regards the licensing and operation of AirBnB properties in Cyprus and other short-term rental properties, the Deputy Ministry of Tourism now developing a new platform to the used by interested parties wishing to obtain the necessary license and operate such as a business in Cyprus.
The Legal Framework Governing the operation of this type of properties has been updated.
At the beginning of summer, a new platform will be created and those who are interested will be able to access it. It will be available on the Deputy Ministry of Tourism’s website and the interested persons will be able to use this platform to secure the necessary license for the operation of their AirBnB accommodation(s).
The regulation of short-term rentals in Cyprus is a relatively recent only legislative development.
What is ‘Self-Catering Accommodation’?
This has been defined by the Applicable Law as: “either a single tourist furnished mansion, or a single residence, or a single apartment, which constitutes “a unit” under the provisions of the Immovable Property (Tenure, Registration and Valuation) Act, which does not constitute a “hotel” or “tourist accommodation” as defined in Part II and Part III of the same law, which is rented as a mansion or a residence or a unit and not as a part of it, and is registered in the Register of Self-Catering Accommodation under the provisions of Part IIIA.”
Main Changes – Registration & Licensing
The short-term lease of self-catering accommodation is now prohibited, unless there is a valid and renewed license issued by the Deputy Ministry of Tourism.
Owners and/or rightful users of self-catering accommodation will have to complete and submit an application for the registration of their self-catering accommodation with the Deputy Ministry of Tourism.
The application carries a fee which will vary according to the type of the self-catering accommodation. Upon acceptance of the applicant application, each self-catering accommodation will be provided with a registration number and a license.
The registration number of each unit will need to be publicized on every advert and/or any other form of marketing of the self-catering accommodation (i.e. platforms such as Airbnb and/or Booking.com), as well as in all relevant transactions.
Should you wish to find out more contact our team.