Firms in the Spotlight Tax

P. N. Kourtellos & Associates LLC

P. N. Kourtellos & Associates LLC logo

The firm: P. N. Kourtellos & Associates LLC is an independent and dynamic law firm in Limassol, founded by Dr Pavlos Neofytou Kourtellos and Ioanna Demetriou in 2011.

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Tax in Cyprus

Chrysostomides Advocates & Legal Consultants

Under the leadership of George Ioannou, the team at Chrysostomides Advocates & Legal Consultants has considerable experience in assisting with an array of tax planning matters for the implementation of both corporate and personal wealth structures. The group fields expertise in handling personal taxation, VAT, customs duties, transfer pricing and withholding taxes in cross-border deals, as well as advising on employment tax matters and property tax. Additionally, the department continues to assist high-net-worth individuals with tax efficient structures, and is noted for handling tax residency issues. At associate level, Konstantinos Taramountas is a key name.

Practice head(s):

George Ioannou


Other key lawyers:

Konstantinos Taramountas


Testimonials

George Ioannou is always there with massive depth of knowledge and a Plan B scenario.’

‘It is a firm that has thorough expertise in taxation.’

‘George Ioannou is a lawyer we have been working with for many years; he has a strong knowledge of international and corporate tax combined with a good knowledge of corporate law. He is always consistent and timely, providing concise and to the point advice.’

‘Always responsive.’

‘Knowledge of cross border taxation and financial investments.’

‘Professional, punctual, knowledgeable.’

‘Very well organised, knowledgeable, up to date, business oriented and friendly.’

‘George Ioannou is always available and has  practical solutions to clients’ problems.’

Key clients

Wolt Cyprus Ltd


Tencent


Veeva Systems


Marsh & McLennan Companies


FedEx Corporation


Microsoft Corporation


Moody’s Corporation


BRP Tax


Astrobank Public Company Limited


Work highlights


  • Provided corporate tax advice to Chinese multinational technology and entertainment conglomerate Tencent on its acquisition of a 100% stake in FM Games Holding Limited through Miniclip.
  • Advised Marsh McLennan on a broad range of Cypriot tax matters.
  • Assisting Swiss company BRP Tax SA with drafting and reviewing a Tax Private Equity Manual and Tax Investment Manual covering the respective requirements and procedure for private banking and HNW clients to comply with Cypriot tax obligations.

Clerides, Anastassiou, Neophytou LLC

The ‘extremely efficient' team at Clerides, Anastassiou, Neophytou LLC is highly regarded for its ‘in-depth knowledge of  tax law' and 'high level of professionalism and solution-oriented approach’. At the helm is Stavros Clerides, who garners praise for his ‘razor sharp business skills'. The practice boasts substantial experience in advising on the tax aspects of acquisitions, mergers, IPOs and other complex financial arrangements, with niche expertise in assisting with private equity and venture capital deals and angel financing. Other key areas of strength include assisting with international taxation law and tax treaties. Andri Stylianou is a key practitioner to note.

Practice head(s):

Stavros Clerides


Other key lawyers:

Andri Stylianou


Testimonials

‘Brilliant legal experts and polite people. It is a pleasure to cooperate with them.’

‘The firm has an extremely professional and proactive team of lawyers. Their input is always substantiated and well supported and not only meets but very often exceeds our expectations.’

‘They have a sound understanding of business matters and the practicalities involved and thus are able to assist us in navigating through various issues in a pragmatic and efficient way.’

‘Their response times are impressive. Their fees are competitive and very reasonable and they are always flexible to accommodate budgets.’

‘Stavros Clerides is second to none and has an exceptional grasp of tax and legal matters together, and is of great assistance when we require innovative cross-border structuring work and tax planning. He is a brilliant lawyer with a deep understanding of corporate finance and business matters.’

‘Andri Stylianou has wide experience in structuring and negotiating complicated cross-border transactions and is also very efficient and diligent.’

‘The team consists of excellent lawyers. They are very professional and knowledgeable and they can always be relied on for providing substantiated, well supported, reliable and thorough legal advice.’

‘Stavros Clerides has a comprehensive knowledge of corporate and tax law, and his international financial and tax background makes him very unique in the market place; we count on his added value when we structure deals.’

Key clients

Mobileye Bv Group


DLA Piper


Phanos N. Epiphaniou Plc


Sakyrco Properties Ltd


Global University Systems B.V.


Mintz, Levin, Cohn, Ferris, Glovsky, and Popeo


Work highlights


  • Assisted a client with the tax aspects of the acquisition of shares in a Greek professional sports club.
  • Advised a sovereign fund on the tax aspects of the acquisition of a global group of companies.
  • Advised a number of clients on cross-border tax issues.

Elias Neocleous & Co LLC

Elias Neocleous & Co LLC is home to a tax team with established strength in supporting the firm with the development and implementation of innovative and tax-efficient structures for international transactions, as well as providing standalone tax advice to clients. The group's workload includes advising on a broad spectrum of domestic tax matters and cross-border mandates, particularly relating to devising and implementing tax-efficient holding and finance structures for cross-border investments. Other key areas of instruction include tax litigation, assisting very high-net-worth-individuals with personal tax issues, and handling the tax aspects of employment matters. The department is co-led by Elias Neocleous and Kyriacos XenophontosElena Christodoulou and Kyriaki Stinga are singled out for their contributions.

Practice head(s):

Elias Neocleous; Kyriacos Xenophontos


Other key lawyers:

Elena Christodoulou; Kyriaki Stinga


Key clients

Made.com


Mintra Holding AS (Norway)


Greenmont AIFLNP


Invel Real Estate Partners


Airbnb


Booking.com


Limassol Marina


KKCG Group


Allwyn Group


Bloomberg


Avanti Communication Group Plc


Prodea Investments


Huawei Technologies


Oriflame Cosmetics


Royal Caribbean Cruises


CPI Property Group


Work highlights


  • Advised the Cyprus branch of a multinational neobank and e-money institution on tax matters pertaining to transactions and accounts.
  • Advised an international ride hailing service looking to expand its operations into Europe using a Cypriot structure.
  • Advised an international accommodation booking service on a range of tax matters, including VAT issues.

KINANIS LLC

The ‘exceptionally responsive’ team at KINANIS LLC garners praise for its ‘profound expertise’ in tax law. The group’s expertise spans transfer pricing, VAT, international tax planning, personal taxation matters and corporate tax, with noted strength in advising on the IP Box Regime. Under the leadership of Charalambos Meivatzis, Marios Palesis and Demetra Constantinou, the department is able to act for prominent international law firms, large accounting entities and other consulting firms. The group is also frequently engaged by clients in the technology, IP, real estate and financial services sectors. Yiota Michael is a name to note.

Practice head(s):

Charalambos Meivatzis; Marios Palesis; Demetra Constantinou


Other key lawyers:

Yiota Michael


Testimonials

‘Key strengths include deep knowledge of local and international tax laws. Most importantly top quality services are offered in a professional manner in all cases, and you get a sense of a great team spirit. Stand out individuals are Charalambos Meivatzis, Marios Palesis and Yiota Michael.’

‘Marios Palesis stands out prominently. His extensive knowledge in the transfer pricing field is truly impressive, and his readiness to assist and answer any questions raised by clients is unmatched.’ 

‘Marios Palesis, Demetra Constantinou and Charalambos Meivatzis are reachable and willing to help.’

‘Charalambos Meivatzis, Marios Palesis, and Demetra Constantinou have a strong understanding of tax laws, regulations, and codes. They stay updated on changes in tax laws and are knowledgeable about various tax strategies. They always provide honest and ethical guidance.’

‘Yiota Michael is always there for us to answer even the most complex queries, and gives comprehensive advice for the benefit of our business. Her level of expertise and knowledge is and always has been of great value to us.’

‘Demetra Constantinou builds excellent relationships, and is always ready to find solutions. Responsive, welcoming, and efficient.’

‘Kinanis’ tax team has always been insightful and practical. I appreciate their efficiency and pragmatic approach. Charalambos Meivatzis and Marios Palesis always bring value to meetings and provide helpful recommendations.’ 

‘Great group of professionals: deep knowledge, responsive and friendly.’

Key clients

Xomonel Enterprises Ltd


Farsonex Investments Ltd


Megatren Investments Ltd


Halman Consultants (Overseas Ltd)


Audax Consulting


Chenor AG


Torwell Holdings


Lenhill


Elsavco Audit Tax Ltd


Istos Global Ltd


VATastic AG


Twiti Investments Ltd


Strikos Group


Tenet Group


Solicia Enterprises Ltd


CEA audit Ltd


Cobalt legal


Estron Corporation Limited


Cyprana Limited


Stalworth Pro Limited


N. Voskarides Audit Limited


Sephora (Cyprus) Ltd


Rubylight Ltd


Patrikios Pavlou & Associates LLC

Stavros Pavlou and Stella Strati co-head the highly regarded team at Patrikios Legal, which has an established track record in assisting a client base of  international entities, large groups of companies and wealthy individuals with a wide spectrum of tax matters. Key areas of instruction for the group include advising on the setting up of efficient tax planning structures, restructuring of shareholding structures, and tax issues arising from major mergers, acquisitions and corporate restructurings. It also has particular strength in advising entrepreneurs on tax planning and implementation of succession planning issues for their businesses and private estates, which often include cross-border elements, as well as handling the execution of high-value financing transactions in complicated loan restructurings.

Practice head(s):

Stavros Pavlou; Stella Strati


Testimonials

‘The tax department of Patrikios Pavlou & Associates LLC is efficient and provides practical and detailed advice. They are always available and ready to assist.’

‘Stella Strati is excellent to work with. She is a problem solver and gets the work done.’

‘All you need from a law firm, if you look for the best.’

‘Stella Strati was commercial, responsive and efficient, providing quality advice.’

‘Continuously up to date – straight to the point and solid advice.’

‘The tax team of Patrikios Pavlou & Associates LLC is exceptionally good. They are prompt, efficient and give practical advice. They simply get the work done.’

‘Stavros Pavlou is a top Cyprus lawyer. He is knowledgeable and efficient. Stella Strati  always provides valuable advice.

Key clients

Alpha Bank Cyprus Ltd


Iason Skouzos & Partners


Yiallourides & Partners


Chelco VAT Ltd


DLA Piper LLP


Nelson Mullins


Work highlights


  • Advised an American media and entertainment group on applicable local sourcing rules for taxes on residents and non-residents, concerning whether said taxes would be creditable under the US Foreign Tax Credit regulations.
  • Advising a Hong Kong game developer on the Cyprus tax law aspects of a group restructuring.
  • Advising an Israeli entrepreneur on the tax aspects of setting up a corporate structure, headquartered in Cyprus, to operate in online marketing for investment firms.

AGPLAW | A.G. Paphitis & Co. LLC

The 'dedicated' tax practice at AGPLAW | A.G. Paphitis & Co. LLC has 'a strong reputation in the market’. The group's expertise spans a wide spectrum of tax matters, including tax structuring, corporate tax, tax litigation and transfer pricing issues. In addition, it receives a regular flow of instructions to assist clients with matters involving the IP Box Regime, as well as advising foreign investors on property tax and tax residency status in Cyprus. The department is led by the triumvirate of Angelos PaphitisNicolas Patsalis and recently promoted partner Michael Alexandrou.

Practice head(s):

Angelos Paphitis; Michael Alexandrou; Nicolas Patsalis


Testimonials

‘The firm’s lawyers have a brilliant way of handling tax projects and it’s a pleasure for us to work with such a team. Their firm consists specialists on tax.’

‘We work with the entire tax team on nearly a daily basis. They all work as a team and bring admirable results.’

‘Angelos Paphitis is an excellent specialist; Michael Alexandrou, a very experienced and highly skilled tax adviser; Nicolas Patsalis is very attentive and professional.’

‘All around excellent team, service, and knowledge.’

‘The firm is very proactive when it comes to clients’ needs. They spend time with the clients and understand the issues at hand.’

‘The personal touch that the individuals give is outstanding. I would like to particularly mention Michael Alexandrou and Angelos Paphitis. They have outstanding interpersonal and communication skills. They are experts in their field.’

Key clients

SHARP CONSUMER ELECTRONICS EUROPE LTD


Musecy SM ltd


Metaquotes Software limited


Membrana DSP Ltd


Fidentia Trust


Quester Group


Finery Markets Ltd


BW Stratosfera Limited


Innotick Software Limited


M.R. City Panorama Limited


LFA TRADING LTD


Menkin Holding Limited


DS Express INC


Instant Trading EU Ltd


Forbes & Manhattan


VS Energy International


PT International Ltd


HEYQO Ltd


Nicheclear


CMS Global Ltd


Musescore Ltd


Sentako Ltd


Work highlights


  • Advising Membrana DSP Ltd on tax matters concerning the IP Box Regime.
  • Advised MuseCy Sm Limited on employment-related tax matters.
  • Assisting a law firm on an ongoing basis, regarding providing the firm’s clients with tax advice during several international business transactions.

Antis Triantafyllides & Sons LLC

At Antis Triantafyllides & Sons LLC, the tax practitioners are integrated into the firm’s transactional team. The group regularly acts for corporations and individuals in relation to a broad range of Cypriot tax issues arising from local and international transactions across multiple sectors. The client base includes domestic and foreign companies and financial institutions. Stelios Triantafyllides and litigation expert George Triantafyllides co-head the group.

Practice head(s):

Stelios Triantafyllides; George Triantafyllides


Other key lawyers:

Olga Adamidou; Riana Pasiourtidi


Testimonials

‘The tax team of Antis Triantafyllides & Sons LLC provides a pragmatic approach to all tax-related problems. The firm prides itself in its efficient service to its clients, ensuring that its proposed solutions are always tailored to the case at hand. ‘

‘An advantage of the firm is that both its litigation department and its corporate/canking department have vast experience in tax issues, which provides all-round market insight.’

‘The firm’s managing partners, Stelios Triantafyllides and George Triantafyllides, both provide excellent service to their clients and always put their clients’ needs first. They are prompt and highly experienced in their fields, which further reflects in their high-quality legal advice.’

‘All members of the tax team, whether these are the managing partners or other associates with the firm, such as Olga Adamidou and Riana Pasiourtidi, are always eager and prompt to respond to client requests with the same zest and detail, regardless of whether such requests are simple queries or complex translations.’

‘Excellent service, high quality staff, reasonable pricing.’

‘George and Stelios Triantafyllides are both excellent, resourceful and approachable.’

Key clients

Builder’s Provident Fund


Work highlights


  • Acting on behalf of the Builder’s Provident in Cyprus in four court appeal cases filed against the Republic of Cyprus in the Supreme Court of Cyprus, regarding the tax imposed on hundreds of property transactions carried out between 1991 and 2007 involving the Builder’s Provident Fund.

Harneys

At Harneys, the practice is well versed in handling the full range of contentious and non-contentious tax matters. The group is well known for its niche focus on assisting with various international tax exchange matters relevant to the automatic exchange of information regimes, and regularly acts for an established client base of private equity firms, high-net-worth individuals, start-ups, audit firms, multinational financial institutions and trust companies. The team is co-led by Pavlos Aristodemou and London-based Aki Corsoni-Husain.

Practice head(s):

Aki Corsoni-Husain; Pavlos Aristodemou


Testimonials

‘Harneys’ team has highly technical people with commercial acumen and willingness to find solutions to complex client problems.’

‘Each member of Harneys’ team were always responsive, with a strong eagerness to help.’

AMG Mylonas & Associates, LLC

Under the leadership of Andreas Mylonas, the talented team at AMG Mylonas & Associates, LLC has established strength in assisting with aspects of corporate and business taxation. The group advises local and international clients on national and cross-border corporate tax matters, and is also noted for handling transfer pricing, VAT, and tax planning mandates. The practice has notable expertise in the fintech sector, and is instructed to advise on the tax aspects of crypto projects.

Practice head(s):

Andreas Mylonas


Testimonials

‘Andreas Mylonas is a terrific lawyer.’

‘Andreas Mylonas is the key man in this practice. Good communication with clients and authorities.’

‘Andreas Mylonas leads the firm and delivers results.’

‘This distinguished practice stands out for its forward-thinking approach, particularly in the realm of digitalisation and tax law.’

‘The team’s strengths lie in its ability to blend traditional legal acumen with cutting-edge technology, ensuring efficiency, accuracy, and unparalleled service.’

‘Andreas is not just a lawyer, he is a trusted adviser who takes pride in ensuring the success and well-being of his clients. His dedication to professionalism and ethics sets a high standard for legal practice, making him a true standout in the field.’

Under the stellar leadership of Andreas Mylonas, they have proven themselves to be a powerhouse in the legal field. Their depth of knowledge and strategic foresight in both energy law and taxation is unparalleled.’

The team thrives on collaboration and diverse thinking, creating a rich environment that enhances the quality and breadth of their legal counsel. This collaborative spirit, combined with a deep-seated knowledge in energy and tax law, distinguishes them from competitors.’

Work highlights


  • Acting as tax counsel to a Cyprus shipping fund registered with the Cyprus Securities and Exchange Commission (CySEC).
  • Advised an energy company on the tax aspects of an investment in Renewable Energy PV Parks in Cyprus.

Andreas Coucounis & Co LLC

Andreas Coucounis & Co LLC has a busy practice that provides tax advice to international law firms in relation to changes in Cyprus' tax legislation pertaining to cross-border tax arrangements, and is equally strong at assisting with tax residency matters and the tax aspects of investments into Cyprus. Other key areas of instruction include VAT issues and tax management matters. Dimitria Coucouni heads up the department.

Practice head(s):

Dimitria Coucouni


 


Key clients

Amazon


Tapestry Global House of Brands


Gartner Inc.


Avalara Inc


Prime Commercial Properties Management Ltd


Work highlights


  • Assisted Gartner Inc with the sale of IP assets to the value of $185m.
  • Assisted Amazon with tax matters in Cyprus.
  • Advised Tapestry Global House of Brands on VAT tax matters in Cyprus.

E & G Economides LLC

George Economides heads the practice at E & G Economides LLC, which has an excellent reputation for advising on the tax structuring of international investments and transactions, as well as the tax aspects of cross-border mergers, acquisitions and disposals. The group's workload also includes handling double tax treaties and transfer pricing mandates, and the team continues to assist with tax structuring issues concerning trusts, companies and other vehicles.

Practice head(s):

George Economides


Testimonials

‘George Economides is particularly known for his exceptional client rapport, always putting clients’ interests at the forefront. Also, one of the standout qualities of the team is their exceptional problem-solving skills.’

‘They have a great team for tax.’

‘They have team members with exceptional experience. They know the ins and outs of the fiscal system.’

‘A well organised and highly professional firm, with abundance of expertise and specialisation.’

‘George Economides has a perfect sense of the commercial reality and the challenges of the market the firm is operating in. He always strives to be supportive and attentive to all relevant discussions.’

‘Their approach is client-centric, ensuring personalised and well-crafted legal solutions. The international network of E&G Economides flawlessly manages global issues, making them a top pick for businesses operating across borders.’ 

‘George Economides’ profound legal insight and conscientious approach consistently simplifies complex issues, providing tailored, innovative solutions with impeccable timing. George’s exceptional ability to clarify intricate legal matters ensures we are always in the loop.’ 

Key clients

Unisoft Sys Limited


Findersoft Ltd


Qualysoft Holding Limited


Atomex Limited


Alber Blanc Capital Ltd


Expertum Ltd


M&M Ventures (2014) Limited


Intellectokids Ltd


Work highlights


  • Advising Qualysoft Holding on Cyprus tax issues concerning alternative methods for a company restructuring.
  • Advising Alber Blanc Capital on Cyprus tax issues arising from a group restructuring.
  • Advising Atomex Limited on Cyprus tax issues concerning alternative scenarios for restructuring.

Harris Kyriakides

Michael Kyriakides and Angela Charalambous co-head the tax practice at Harris Kyriakides, which provides tax advice to a range of clients, including multinational companies, high-net-worth individuals, and trusts. Tax litigation is a prominent area of instruction for the team, with VAT disputes prominent in the group's workload. The department also has a solid track record in handling appeals before the Cyprus Tax Tribunal.

Practice head(s):

Michael Kyriakides; Angela Charalambous


Testimonials

‘Knowledgeable and experienced.’

‘Flexible and think out of the box.’

The team provides their legal opinions in due course and in a structured manner.’

‘The individuals work collaboratively and advise clients with the utmost professionalism.’

Key clients

PPT Aviation Services Ltd


Water Board of Larnaca


Sewage Board of Ayia Napa


Dutot Limited


Lanitis Golf Public Co. Ltd


EUROASIA INTERCONNECTOR LTD


G. C. Standard Laundries Ltd


PLANET TAX FREE (CYPRUS) LIMITED


Work highlights


  • Assisted PPT Aviation Services Ltd with prominent tax litigation in Cyprus.
  • Advised the Larnarka Water Board on a tax dispute concerning water installation at an airport.

Michael Kyprianou & Co. LLC

At Michael Kyprianou & Co. LLC, the team is well versed in advising on the tax aspects of restructurings and reorganisations, M&A and liquidations. Transfer pricing matters are another key driver of work for the group, which is also adept at assisting with a wide spectrum of contentious tax issues. Lambros Soteriou and Tonia Antoniou co-head the practice, in which Ioanna Solomou is a key name to note.

Practice head(s):

Lambros Soteriou; Tonia Antoniou


Other key lawyers:

Ioanna Solomou


Work highlights


  • Handles the tax aspects of joint venture and shareholders’ agreements, reorganisations, and private equity matters, among other areas.
  • Advises high-net-worth individuals and ultra-high net worth individuals, along with medium and large local and international organisations and financial institutions, on tax matters.