Firms in the Spotlight Legal market overview

A.G Erotocritou LLC

A.G. Erotocritou LLC has firmly established itself as a “top tier” leading law firm in Cyprus, having cultivated an unrivalled reputation for excellence, with an impressive track record and an all-embracing legal service capability, underpinned by an acute sense of commercial awareness.

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AMG Mylonas & Associates, LLC

AMG Mylonas & Associates, LLC logo

AMG Mylonas & Associates, LLC is an independent and dynamic entrepreneurial boutique law firm based in Limassol with associates in Greece and a professional network across Europe, Russia, Ukraine, North America, Middle East and Asia. Its law practice is one of the new generation of Cyprus law firms based in Limassol, built on delivering personal …

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P. N. Kourtellos & Associates LLC

P. N. Kourtellos & Associates LLC logo

P. N. Kourtellos & Associates LLC is an independent and dynamic law firm, one of the new generations of Cyprus law firms which are breaking ground and rethinking the practice and substance of law. Founded by Dr Pavlos Neofytou Kourtellos and Ioanna Demetriou in 2011, primarily as a multi-service commercial law firm based in Limassol, …

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Soteris Pittas & Co L.L.C

Soteris Pittas & Co L.L.C logo

SOTERIS PITTAS & CO LLC is a boutique law firm, focusing on the areas of law related to business activity and dedicated to providing its clients with outstanding, highly personalized, legal representation.

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Karamanolis & Karamanolis LLC

Karamanolis & Karamanolis LLC logo

Karamanolis & Karamanolis LLC is a boutique firm specialized in Commercial and Corporate Litigation and Arbitration. The founders of the firm are experienced and passionate professionals who have been at the forefront of many significant commercial cases of the past years.

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Patrikios Legal

Patrikios Legal logo

Patrikios Pavlou & Associates LLC is a leading, highly recommended and multi-awarded law firm based in Cyprus. With more than 56 years of experience in the local and international legal market, the firm is renowned for its involvement in some of the largest cross-border transactions and complex litigation and arbitration matters and its exceptional client …

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Legal market overview in Cyprus

The perception remains that Cyprus is a stable European country. However, the sad situation in Ukraine has had a significant impact on the island in terms of its economy and the geo-political landscape. The volatile global conditions with rising interest rates and energy prices are also affecting the local economy.

Some firms that were heavily dependent on work from the CIS have been struggling. A considerable number of law firms report that they are increasingly advising on sanction issues, providing legal opinions on enforcement and are doing more compliance work.

Cyprus has an ideal strategic location and is internationally recognised as a lucrative shipping centre. The country has been attracting investments from other countries as well – the Israelis are now investing more in Cyprus.

With the opening up of the country in the aftermath of the Covid pandemic the real estate and construction markets are now active again. The tourism industry is also thriving.

Technology companies continue to significantly invest in Cyprus. These technology companies are redeploying staff to the island and are setting up their offices there. There is a steady increase in corporate and commercial work from the technology sector and firms have been kept busy advising on issues like data protection, employment law and the protection of intellectual property rights.

There are still delays in the courts partly due to the pandemic – the reforms of the court system are still ongoing.

It is anticipated that there will be more restructuring and foreclosure work as well as liquidations in the year ahead, as some local companies are in financial difficulties.

While there could be some difficult times ahead, the future remains promising for Cyprus.

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