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Overview
While Cyprus managed to manoeuvre itself away from many of the dangers thrown up by the economic downturn, a general atmosphere of unrest and restrained investment ensued in 2009, and into the first quarter of 2010.
There is, however, a note of optimism thanks to signs of recovery in the banking, corporate and commercial sectors. Recent tax reforms as well as double tax arrangements with Russia, the Czech Republic and Italy (adding to Cyprus’ already extensive double- tax-treaty network) are proving successful in drawing investment from emerging markets (most notably India), and lessening the volume of distressed deals. Other sectors, such as the construction and real estate market, have not been so fortunate, with a slump in investor interest in buying property.
Developing relationships and collaborations with international firms are enhancing Cyprus firms’ capabilities to act as a gateway for businesses to explore new markets. In addition, firms such as Michael Kyprianou & Co. LLC, Chrysses Demetriades & Co Law Office and Pamboridis LLC are honing in on opportunities in Greek-funded investments, having a physical presence in Athens.
The market has also seen relatively young firms such as Ioannides Demetriou LLC and Haviaras & Philippou LLC making strides thanks to the established reputations of their founding partners.
Search News and Articles
Press releases
The latest news direct from law firms. If you would like to submit press releases for your firm, send an email request to
Legal Developments in Cyprus
Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
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New EU Stability Mechanism Treaty on strengthening fiscal discipline and convergence
by Christos Floridis -
European Commission imposes simplified rules on mergers and divisions in six Member States among...
which Cyprus -
Ratification of the Framework Agreement between Cyprus and Egypt
The House of Representatives has ratified on January 27 of 2012 the Framework Agreement between the Republic of Cyprus and the Arab Republic of Egypt relating to the development of cross-median line hydrocarbon resources signed in 2006. -
Exploitation of hydrocarbon resources in Cyprus
Geostrategic and financial interests regarding gas exploration and exploitation -
New Tax Measures voted in December 2011 by the House of Representatives of Cyprus
In December 2011 the Parliament of Cyprus voted on certain amendments to various Tax Laws aimed at increasing the revenues of the government as well as reducing government expenditure. Most of the amendments affect residents of Cyprus and were designed in such a way so not to affect Cyprus’ position as an international business center. -
EU labor law in offshore gas-drilling operations
EU labor law in offshore gas-drilling operations has been recently challenged in the case of Salemink v. Raad van bestuur van het Uitvoeringsinstituut werknemersverzekeringen, in the judgment of the Court’s Grand Chamber in January, 17, 2012. -
Cyprus offshore oil and gas: further announcements on the second licensing round
The Cyprus government has announced that the relevant documentation is being prepared for the second licensing round for the remaining blocks of Cyprus’s Exclusive Economic Zone (EEZ) and that expressions of interest will be invited shortly. The exploration area within Cyprus’s EEZ covers approximately 51,000 square kilometres and is divided into 13 blocks. An exploration licence for one block (Block 12) was awarded to Noble Energy International Limited in 2008 and initial results of test drilling are expected before the end of 2011. -
Shipping & Transport - Cyprus 2012
Amendments announced to Cyprus-Italy agreement on maritime navigation -
"Norwich Pharmacal type disclosure orders: a threat to nominees and principals?"
Norwich Pharmacal orders may be sought in the Cyprus courts by an injured party in order to obtain an order for the discovery and disclosure of information as to the identity of a wrongdoer. It has proven an extremely useful tool for deconstructing the corporate nominee structure. -
Council of Europe report on Cyprus's anti-money laundering regime
The Council of Europe Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism has published its latest report on measures to combat money laundering and terrorist financing in Cyprus. The main conclusions of the report are as follows:
Press Releases in Cyprus
The latest news direct from law firms. If you would like to submit press releases for your firm, send an email request to
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Pamboridis LLC have been awarded the Corporate International Magazine Legal Award for...
“2012 Cross Border Law Firm of the Year in Cyprus” for the third consecutive year. -
Mr Yiango George Yiangoullis has left our team
Mr Yiango George Yiangoullis has recently left our team to pursue a position with the Permanent Mission of the Republic of Cyprus to Geneva as an Attaché dealing with matters of Intellectual Property Law at WIPO (World Intellectual Property Organization). We wish him the best with his new appointment. -
ΙΝ BUSINESS AWARDS 2011
We are pleased to announce and share with you all; clients, associates, our members of staff and friends the award in the category of “Services”, awarded by the INBUSINESS magazine and supported by the Hellenic Bank. -
Further rating success for Andreas Neocleous & Co LLC
In the newly-released PLC Which lawyer? rankings for private client work, Andreas Neocleous & Co LLC remains the only Cyprus firm listed in the "leading" category, reflecting the firm's expertise and preeminence in this field. PLC Which lawyer? is one of the world's leading independent researchers into lawyers and law firms, providing independently researched market intelligence on lawyers in more than 110 countries based on their track records, competitors' assessments and client feedback. -
Andreas Neocleous & Co LLC sponsors exhibition of Degas sculpture
Andreas Neocleous & Co LLC believes strongly in giving back to the community, and during 2011 the firm has sponsored or otherwise contributed to a wide range of cultural and professional events including performances by the world-renowned Mariinsky Ballet and Terem Quartet. We end the year by sponsoring the exhibition in Cyprus of the Complete Sculptures of Edgar Degas, which will run from December 2011 to mid-February 2012. -
Dr George Pamboridis, the managing partner of the firm, was one of the speakers at the...
1st Cyprus Energy Forum -
Mr Prodromos Epifaniou has now joined our Litigation Department
Our firm is happy to announce that, having completed his internship, Mr Prodromos Epifaniou has now joined our Litigation Department. -
George Z. Georgiou & Associates LLC has won the Lawyer Monthly Legal Award 2011
George Z. Georgiou & Associates LLC has won the Lawyer Monthly Legal Award 2011 in the category of ‘Commercial Litigation Law Firm of the Year' with regards to Cyprus. -
Expanding the legal team
We are proud to announce that the legal team of Patrikios Pavlou and Associates LLC has been strengthened with the addition of three new members in the Litigation and Corporate Law departments. The new members are: -
Andreas Neocleous & Co selected for Legal Week's 'Independent Law Firms in Europe' survey
For a second successive year, Andreas Neocleous & Co LLC is the only Cyprus law firm to be selected for Legal Week's "Independent Law Firms in Europe" survey, which identifies the leading firms in 29 European jurisdictions. Legal Week is a specialist magazine aimed at commercial lawyers in the UK and major international jurisdictions, and one of the leading legal titles.