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"Andreas Neocleous & Co LLC is one of the leading firms in the Eastern Mediterranean, with more than 140 lawyers and tax consultants who are all specialists in their fields. Int..." read more
"Hadjianastassiou, Ioannides LLC was established in Cyprus in 2003 (originally as a partnership and subsequently as a lawyers’ limited liability company (LLC)). The practice of the ..." read more

 

Legal market overview

Cyprus’ legal industry has been hit hard by the country’s financial meltdown. In March 2013, recently elected president Nicos Anastasiades announced an agreement with the EU over the terms of a €10bn bailout, which forced the closure of the island’s second largest bank, Cyprus Popular Bank (also known as Laiki Bank), and the seizure of savings from depositors to recapitalise Bank of Cyprus (the country’s largest commercial bank). Since the bailout, transactions and projects have drastically reduced and many are currently on hold. Furthermore, overseas clients have lost trust in Cyprus, resulting in a drop in foreign investment.

Despite this, Cyprus remains an attractive jurisdiction for international tax structures and deals, mainly because of its wide network of double taxation treaties and comparatively low corporate tax. In addition, the series of recently introduced incentives and exemptions relating to investment in IP rights continues to bear fruit, and the nascent offshore gas industry has presented opportunities for lawyers.

Andreas Neocleous & Co LLC remains the largest law firm in Cyprus, with strength across the board, and has additional offices in Russia, the Czech Republic, the Ukraine, Belgium and Hungary. In terms of size, it is followed by Chrysses Demetriades & Co Law Office, which also provides the full range of corporate, commercial and litigation services, and is renowned for its shipping expertise.

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
  • Employment & Labour Law - Cyprus Chapter

    The Labour Law in Cyprus consists of both statute law and case law. In order to determine the exact nature of the relationship between employers and employees and the rights and obligations of each side, one needs to examine the relevant statutes, legal precedents created by case law and contractual obligations agreed expressly or impliedly between the parties Normal 0 false false false EN-GB X-NONE X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:""; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin:0cm; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:"Times New Roman","serif";}
  • New CEO for the Bank of Cyprus

     
  • Binary Options

    Ioanna Solomou, advocate of the firm and Lambros Soteriou, advocate and partner of the firm prepared an article relating to binary options. After following a detailed investigation and taking into consideration the extend that the European Member States classify and regulate binary options, the Cyprus Securities and Exchange Commission ("CySec") on the 3 rd of May 2012 announced that binary options will be considered as financial instruments, which fall within the scope of law, and therefore will be regulated.
  • DIRECTORS' DUTIES TO KEEP MANAGEMENT FILES OF THE COMPANY

    Ioanna Solomou, advocate of the firm, and Lambros Soteriou, advocate and partner of the firm, prepared an article about the duties of the directors of a Cyprus company to keep management files. The duties of a director under Cyprus law are not exhaustively codified; they are a combination of statutory duties, common law principles and the duties contained in every Company's Articles of Association. 
  • FREEDOM TO PROVIDE INVESTMENT SERVICES AND/OR PERFORM INVESTMENT ACTIVITIES IN A THIRD COUNTRY

    Ioanna Solomou, advocate of the firm and Lambros Soteriou, advocate and partner of the firm, prepared an article regarding  the freedom to provide investment services and/or perform investment activities in a third country.
  • President of Cyprus commits to compensating depositors who suffered haircuts

    Cyprus will compensate Russian bank depositors who suffered haircuts to their deposits, as a result of the recent measures taken in order to comply with the terms of the Island's €10 billion bailout, said  President Anastasiades.
  • Progress being made at Bank of Cyprus

     
  • Cyprus Flag; A Flag of Progress and Quality

    In the small island of Cyprus "shipping is almost as old as time itself." With an ideal geographical location at the crossroads of Europe, Asia, Middle East and Africa, Cyprus is constantly striving for perfection in the field of merchant shipping.
  • The International Comparative Legal Guide to: Corporate Governance 2013 - Cyprus Chapter

    A practical cross-border insight into corporate governance. This article appeared in the 2013 edition of The International Comparative Legal Guide to: Corporate Governance; published by Global Legal Group Ltd, London. 
  • Real Estate & Property in Cyprus

    Cyprus's strategic location in the eastern Mediterranean at the crossroads of Europe, Asia, the Middle East and Africa, its reliable and transparent legal system, combined with its membership of the EU, its excellent infrastructure coupled with reliable communication with all parts of the world, its relatively low cost of living, excellent climate and the friendliness and hospitality of its people, are just some of the factors that make the island attractive to foreign investors.

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
  • Proud to continue charitable donations in 2014

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  • Proud to continue charitable donations in 2014

    Following our 50th Anniversary Celebration, our support to charitable organizations continues.
  • 50th ANNIVERSARY CELEBRATION

    On 18th October 2013, Patrikios Pavlou & Associates proudly hosted the 50th Anniversary Celebration at the Four Seasons Hotel in Limassol, Cyprus.
  • Memorandum in regards to the documents that a Cyprus company must maintain

    Ioanna Solomou, advocate of the firm and Lambros Soteriou, advocate and partner of the firm, prepared a Memorandum regarding the documents that a Cyprus company must maintain. Subject to the Law, limited liability companies are obliged by law to maintain proper books of account in respect of their income, expenses, assets and liabilities. In addition, under section 139 of the Law, and subject to the provisions of the Articles of Association of a company, every company shall cause minutes of all proceedings of general meetings, all proceedings at meetings of its directors and where there are managers, all proceedings at meetings of its managers to be entered in books kept for that purpose.
  • AITC Meeting in Malta, September 2013

    The Association of International Tax Consultants (AITC) organised a successful event in Malta during September 2013.
  • Stelios Americanos & Co LLC expanding its reach into Asia

     
  • Appointment of new lawyers

    We are pleased to announce the appointment of 2 new lawyers in our legal team, Mr Michalis Zambyrinis and Ms Ioanna Agathokleous. We would like to welcome the new additions and wish them to achieve our and more importantly our clients aims with integrity, personal commitment, dedication and professionalism.
  • ARRICANO ADMITTED FOR TRADING IN THE AIM-STELIOS AMERICANOS & Co ACTED AS CYPRUS COUNSELS

    Stelios Americanos & Co LLC acted as Cyprus counsels of ARRICANO REAL ESTATE PLC, a Cyprus public company, regarding it's admission for trading in the AIM in a 24million USD initial public offering (IPO).  Arricano is one of the leaders in the Ukrainian market of commercial real estate. For the purposes of the admission to AIM our firm has undertaken to perform a thorough due diligence over the Company and its Cyprus subsidiaries as well as the pipeline projects , acquired by the Company on Admission.  For the purposes of admission our firm was involved in the drafting of the Admission Document circulated to potential investors as well as the various documentation required under Cyprus law for the implementation of the Admission.
  • ARRICANO ADMITTED FOR TRADING IN THE AIM-STELIOS AMERICANOS & Co ACTED AS CYPRUS COUNSELS

    Stelios Americanos & Co LLC acted as Cyprus counsels of ARRICANO REAL ESTATE PLC, a Cyprus public company, regarding it's admission for trading in the AIM in a 24million USD initial public offering (IPO).  Arricano is one of the leaders in the Ukrainian market of commercial real estate. For the purposes of the admission to AIM our firm has undertaken to perform a thorough due diligence over the Company and its Cyprus subsidiaries as well as the pipeline projects , acquired by the Company on Admission.  For the purposes of admission our firm was involved in the drafting of the Admission Document circulated to potential investors as well as the various documentation required under Cyprus law for the implementation of the Admission.
  • New offices in Limassol

    The law firm of Michael Kyprianou & Co LLC hereby announces the moving in to its newly built offices at 116 Gladstonos Street, Michael Kyprianou Tower, 3032 Limassol, Cyprus. The contact numbers, fax number and email addresses remain as before.