Agreement between the Ministry of Interior and the Monitoring Committee of the Interior for the unification of recommendations regarding the acquisition of real estate by foreigners.

Cyprus' Interior Minister proposed consolidating three bills concerning property acquisition by foreigners without ministerial approval, aiming for better regulatory framework. The goal is to strengthen legislation regarding land acquisition, addressing loopholes and establishing effective control mechanisms. The Interior Committee expressed readiness to work towards convergence, targeting a plenary discussion before the current parliamentary term ends. The proposed laws seek to prevent indirect property acquisition by foreigners and protect agriculture. Increased geopolitical instability has led to a rise in such acquisitions, necessitating updated regulations to safeguard public interest and social cohesion.