On 17 January 2020 the proposed legislation governing rentals through online Airbnb-type platforms was approved by Cyprus MPs to regulate short-term rentals which must be registered.
This ends unlicensed short-term accommodations since a register shall be created and managed by the Deputy Ministry of Tourism. Importantly, it will not be necessary for flat owners who operate Airbnb-type rentals to obtain the consent of the building’s management committee, however permission will need to be obtained from the Deputy Ministry of Tourism.
As a result, the strong tourism industry of Cyprus will be enhanced, given that Airbnb-type rentals will now be supervised and comply with H&S criteria accordingly. Nonetheless, hoteliers have expressed major concerns as regards unfair competition, considering that the new legislation permits owners of short-term rental accommodation to compete without any hindrance.
Cyprus is a popular tourist destination worldwide, boasting natural beauty, excellent climate and luxury resorts, as well as marinas in all coastal cities and the integrated casino resort in Limassol. In fact, Hospitality & Tourism constitute a key sector in Cyprus with the following features among many others:
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