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PATRICIAN CHAMBERS, 332 AGIOU ANDREOU STR., 3035 LIMASSOL, CYPRUS
Tel:
Work +357 25 87 15 99
Fax:
Fax +357 25 34 45 48
Email:
Web:
www.pavlaw.com
Limassol, Nicosia

Stavros Pavlou, Senior and Managing Partner

Stavros Pavlou, Senior and Managing Partner of Patrikios Pavlou & Associates LLC discusses the law firm’s services and shares his views and experiences with clients.

1) What do you see as the main points that differentiate Patrikios Pavlou & Associates LLC from your competitors?

For the last 55 years, Patrikios Pavlou & Associates LLC has been operating with the same core principles: the provision of service quality, respect, integrity and professionalism towards its clients and associates and creation of value for the client. Today, the law firm evolved as one of the leading, multi-awarded and most-respected law firms in Cyprus by conforming to these core principles for so many years. Additionally, the development of expertise has always been a fundamental objective of the firm pursued by recruiting, training and investing in talented professionals and teamwork to provide the best possible outcome for our client’s business. Furthermore, the law firm’s participation in international professional associations, the prominent relationships with respectable international law firms over many years as well as, the long-standing client base, continue to be keystones for the firm’s future plans and strategies.

2) Which practices do you see growing in the next 12 months? What are the drivers behind that?

The economy of Cyprus is currently one of the fastest growing economies in the EU with a 3.9 % GDP growth rate (Dec 2017). The government of Cyprus has recently undertaken a set of measures not only to attract foreign investors but also to protect their interests. Thus, real estate, banking, construction, financial services, company registrations and immigration are sectors which are presently experiencing growth. From our side, we have noticed a tremendous demand in our work involving corporate restructurings, banking transactions and litigation, dispute resolution through arbitration, legal assistance on citizenship by investment programmes, property contracts and negotiations and company formations.

3) What's the main change you've made in the firm that will benefit clients?

Reorganisation, practice specialisation and technological advancements are continuously utilized for optimum performance results. Over the last two years, the firm secured an additional 660m² of office space to accommodate the rising client requests in the banking, finance and corporate departments and the working environment and operational efficiency have improved enormously. Additionally, in the dispute resolution practice, following the increasing demand in arbitration cases, the firm decided to invest in its key professionals by training five lawyers on arbitration modules provided by the Cyprus branch of the Chartered Institute of Arbitrators, while I became a Fellow of the Chartered Institute of Arbitrators and I am also the Honorary Secretary of the Cyprus Branch of CIArb.

Lastly, the affiliated Pagecorp Group is currently undergoing internal restructurings to enhance its presence in the Cyprus corporate services sector and to improve client service.

4) Is technology changing the way you interact with your clients, and the services you can provide them?

Of course it does! For us, it is extremely important to keep pace with all technological developments in order to run our operations more effectively and efficiently and improve our services. Speed in client communication, access to a wealth of legal information and databases, efficiency in meeting clients, confidentiality and obeying the EU Data Protection Laws, play a key role in our everyday activities. Our experienced in-house IT team handles all of our online and offline technological operations in order to encourage further the highest productivity and responsiveness of the team and at the same time increase security and accuracy. Patrikios Pavlou & Associates LLC embraces the use of technology in order to ensure confidentiality and high quality of professional services.

5) Can you give us a practical example of how you have helped a client to add value to their business?

Over the last 32 years of being a practicing lawyer and legal consultant, I can certainly share numerous examples of providing legal assistance, transaction support and judicial protection of multinational organizations, banks, financial institutions, corporates and entrepreneurs coming from Europe, Russia and other CIS countries. Since the economic crisis of 2008 a lot of international businesses suffered from cash flow issues and problems with their credit facilities. We have consistently assisted over the last few years with the restructuring of many client groups and the renegotiation and optimisation of their credit facilities, thus ensuring their continued survival and profitability. In the Dispute Resolution field we have successfully defended clients from malicious attacks on their assets in many high profile cases.

6) Are clients looking for stability and strategic direction from their law firms - where do you see the firm in three years’ time?

Nowadays, clients are more demanding than ever. They need a trustworthy, results-oriented, professional, and well respected law firm with a personalised service and a long-term approach rather than a mere instant solution to their legal needs. Strategic advice, consistency and care towards clients’ matters are of vital importance. Our company is about the same age as the Republic of Cyprus – it was founded by my father in 1963. Therefore, we have been watching the development of the local services industry, including legal services, from the very beginning. From day one, we have been operating diligently, professionally and respectfully and we have shown appreciation for every client relationship throughout our course. We are committed in providing top level legal services with the utmost ethical standards and on the basic premise that our actions reflect on our society and the environment in which we operate. We expect that the firm will continue the significant expansion it has enjoyed since its foundation, both in terms of quantity and quality and we will continue to develop the knowledge and skills of our people. We look forward to the future and the challenges it will bring and we are confident that with persistent commitment to our principles, we will continue to provide top quality legal services with diligence, integrity and professionalism for the next 55 years and even longer.

Legal Developments by:
Patrikios Pavlou & Associates LLC

  • Supporting local and international charitable organizations

    As one of the leading law firms in Cyprus, we are active promoters and supporters of local economic growth by sponsoring local events, applying environmental-friendly practices, minimizing our ecological impact, and most importantly, by raising money for local charities and non-profit organizations.
    - Patrikios Pavlou & Associates LLC

Legal Developments in Cyprus

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • Supporting local and international charitable organizations

    As one of the leading law firms in Cyprus, we are active promoters and supporters of local economic growth by sponsoring local events, applying environmental-friendly practices, minimizing our ecological impact, and most importantly, by raising money for local charities and non-profit organizations.
  • Stricter supervision in relation to the Scheme for Naturalisation of Investors in Cyprus by Exceptio

    Recently there were a lot of publications within the European Union expressing concerns about the allegedly very high number of Cypriot passports being given to foreign investors the last few years. The Council of Ministers has decided on 9th January 2018 with the decision with number 84.069, to impose a stricter supervision of all the parties involved in the Scheme for the naturalisation of non-Cypriot investors in Cyprus by exception.
  • 19% VAT on Plots

    In order to harmonize the  Acquis Communautaire on the Taxation of untapped and undeveloped plots of land, the Cyprus Government enacted, on 03/11/2017, relevant legislation for the imposition of 19% Value Added Tax (VAT) on these properties, with a date of enforcement being 02/01/2018. The relevant legislation refers to plots/pieces of land offered and/or provided for construction for economic purposes.
  • Unfair contract terms

    The Unfair Contract Terms Law 93(1)/1996 (the “Law”) as amended, implements the EU Directive  93/13/EEC  of 5 April 1993 regime into national law. The objective of the aforementioned legislation is the protection of consumers in the European Union from unfair terms and conditions which might be included in a standard contract for goods and services they purchase. It introduces the notion of ‘good faith’ to avoid any significant imbalance in mutual rights and obligations.
  • Beneficial Ownership Concept - The approach of the Russian Federal Tax Service

    The beneficial ownership of the income concept (“the Concept”) is nowadays a material aspect affecting the eligibility of the taxpayers to claim treaty benefits.
  • MALTA - ICOs - THE NEW LEGISLATION (Updated 4th edition)

    Initial Coin Offering, known as “ICO”, is a relatively new phenomenon that has quickly become the main player in the Financial Services and Crowdfunding industries, as well as being the key subject of discussion in the Blockchain communities. In essence, it is one of the most advanced methods of raising finance from the public and is becoming increasingly popular to fundraise start-ups.
  • BVI'S NEW ECONOMIC SUBSTANCE LEGISLATION

    The British Virgin Islands are rushing to pass by the end of December the new economic substance legislation to avoid the EU’s blacklist of tax haven jurisdictions.
  • Security Token Offerings (STOs): The Future of Coin Offerings

    The term ICO has been at the epicentre of discussions in the FinTech industry, being the main method of fundraising used by startup companies to develop innovative ideas on the Blockchain technology or other applications using Distributed Ledger Technology (“DLT”).
  • The 'dark' side of the data room: disclosure dangers in M&A and finance transactions

    Given the corporate environment's ever-changing nature and business needs and the importance of data protection at the EU level, the topic of due diligence in M&A and financial transactions warrants examination. The disclosure, transfer and processing of data raises concerns at several stages of the due diligence process during a transaction and undoubtedly makes things more complicated.
  • Registered alternative investment funds – an overview

    Cyprus is fast becoming an international fund hub and a well-respected player in both the European and international fund industries.