Property

Pokemon Co says will defend intellectual property after viral game sparks debate

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Pokemon Co says will defend intellectual property after viral game sparks debate

The Pokemon Company has announced its intention to investigate and potentially take action against any infringement of its intellectual property rights. This statement comes in response to a game developed by PocketPair, called “Palworld,” which has been referred to as “Pokemon with guns.” “Palworld” is a survival adventure game where players can use guns to capture and train creatures known as “pals.” Since its release on January 18, “Palworld” has sold over 8 million copies and is available in early access on Steam and on the Xbox platform. The game has been both praised for its gameplay and debated for its similarities to the Pokemon series. PocketPair’s CEO Takuro Mizobe has reported receiving libelous comments and threatening tweets. The Pokemon Company received many inquiries about the game after its January 2024 release. The Pokemon Company was established with investments from Nintendo, Game Freak, and Creatures. Nintendo has declined to comment on the situation.

Bill to halt auctions for , ‘mortgage to rent’ applicants passed

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Bill to halt auctions for , ‘mortgage to rent’ applicants passed

– The House unanimously passed legislation to halt property auctions for mortgage debtors who have applied for the ‘Mortgage to Rent’ scheme.
– The legislation applies to auctions on first dwellings.
– An amendment expanded the protection to include debtors rejected from the ‘Mortgage to Rent’ scheme but who have appealed the decision.
– The legislation was tabled by Akel MPs and amends the main foreclosures law.
– The ‘Mortgage to Rent’ scheme allows homeowners to surrender ownership and rent their home for five years, with the state-owned asset management company Kedipes acting as the landlord.
– Applicants who meet the criteria and have a title deed will transfer the title to Kedipes and sign a 14-year rental contract.
– The state will cover the rent for 14 years, with an option for the tenant to re-acquire the property after five years.
– The scheme is also open to borrowers with a primary residence valued up to €350,000 and those whose participation in other housing schemes has ended.
– The ‘Mortgage to Rent’ scheme was launched in early December 2023.

Bill to halt auctions for , ‘mortgage to rent’ applicants passed

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Bill to halt auctions for , ‘mortgage to rent’ applicants passed

The House unanimously passed legislation to halt property auctions for mortgage debtors who have applied for the ‘Mortgage to Rent’ scheme. This applies to first dwellings and includes those who were rejected from the scheme but have appealed the decision. The legislation amends the main foreclosures law, providing additional legal protection for debtors. The ‘Mortgage to Rent’ scheme allows homeowners to surrender their home to their lender and rent it from the state-owned asset management company Kedipes for five years, with the state covering the rent for 14 years and an option for the former owner to buy back the property after five years. The scheme is available to borrowers with a primary residence valued up to €350,000 and was launched in early December 2023.

Slowdown in growth on geopolitical tensions

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Slowdown in growth on geopolitical tensions

The growth prospects of the Cyprus economy are struggling due to ongoing regional geopolitical tensions, which is keeping the annual growth rate at a subdued pace. The year-over-year growth rate of the Cyprus Composite Leading Economic Index (CCLEI) has continued to slow down in November. The slowdown reflects the burdened geopolitical and unstable economic environment, which negatively affects the growth prospects of the Cypriot economy. The CCLEI recorded a year-over-year increase of 1.8% in November. The positive growth rate is attributed to the growth of various domestic sectors, including real estate, tourism, retail trade, and electricity production. The drop in the CCLEI is restrained by the international price of oil, which fell significantly in November. The components of the CCLEI are selected from a pool of domestic and international leading indicators.

French pensioners flock to Cyprus for attractive tax measures

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French pensioners flock to Cyprus for attractive tax measures

French pensioners are choosing to live in Cyprus due to the country’s favorable tax measures. Under the Franco-Cypriot tax convention, pensioners are not taxed in France but rather in Cyprus if they establish their residence there. The tax benefit exempts pensioners up to €3,420 per tax year, and beyond that, they are taxed at only 5%. Additionally, there is no estate or inheritance tax in Cyprus. In Greece, pensioners receive a flat tax rate of 7% for 15 years if they establish their tax residence there. Property ownership is not necessary to benefit from this system.

Benefits of changing VAT policy on homes

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Benefits of changing VAT policy on homes

The text discusses a proposal to fully suspend VAT on houses in Cyprus, similar to Greece’s 0% VAT rate on new homes. The author recommends a temporary suspension of VAT or a super-reduced VAT rate for homes used as the main residence. The author also suggests revising the policy to include home size criteria and family size. The potential benefits of this policy include a surge in demand and supply for newly built properties, stabilizing prices faster, making resale properties more affordable, and correcting rental values. The author also proposes revising the definition of “new” and “old” properties and increasing transfer fees for second property purchases to compensate for the temporary VAT loss. The author argues that adjusting VAT for homes can support citizens in affording homes without negatively impacting public finances and can enhance both individual well-being and overall economic stability.