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Antonis Paschalides, managing partner

Managing partner Antonis Paschalides explains how preventive measures, whenever possible, are to be preferred rather than chasing doubtful business and how his firm concentrates on practical, cost-effective solutions.

What do you see as the main points that differentiate Antonis Paschalides & Co LLC from your competitors?

Efficiency in our services to clients in a practical and result-oriented approach. In our firm we try to give quick straight answers in a tailor-made – if possible – manner. Our clientele is mainly international and so is our focus, by providing quality services at reasonable rates. We concentrate on the substance, having in mind the needs and circumstances of each client.

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

Cyprus seems to have overcome the consequences of the economic crisis. We expect serious improvement of foreign investments in Cyprus and more registrations of international companies here. Fields like oil and gas, shipping and construction are indicative of high expectations. Higher and bigger investments in Cyprus will bring about the need for contract drafting and/or reviewing and consulting. Also purchase of property contracts will be on the increase.

This process might be strengthened, as well as expedited, if the Cyprus talks regarding the National Problem reach an amicable settlement.

In general, the business atmosphere is improving and expected to continue doing so.

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

We have concentrated on certain fields of law and, thus, achieved greater specialisation and experience. Furthermore, we have invested time in knowing the clients’ business and, thus, their actual needs. Our network of associates, eg tax consultants, has been restructured and strengthened.

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

Technology has most definitely affected the quality of our service to clients: it eliminates geographic challenges, facilitates efficiencies in meeting with clients, while a wealth of information can be made available to clients instantly.

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

After examining the documents used and the procedures followed by certain clients, we have proposed specific drastic changes, which have altered substantially their procedures and documentation. In doing so, the clients received great direct, as well as indirect, benefit to their business. In fact, when some clients applied our advice, they prevented and/or reduced bad debts and problematic court cases.

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

Clients now more than ever expect (and rightly so) cost-effective solutions. Preventive measures, whenever possible, are to be preferred rather than chasing doubtful business.

Litigation is a necessary evil sometimes, but other more practical methods need to be considered. Timing of all decisions and actions is of the utmost importance.

Legal Developments in Cyprus

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • Notional Interest deduction 11/17

  • Cyprus: Changes To The Inheritance Process Under European Succession Regulation 650/2012

    The growing importance of cross border successions within the European Union and the difficulties and complications resulting from the diversity of succession and private international law rules relating to succession, prompted the European Commission to examine the possibility of introducing a Regulation that would facilitate and streamline cross border successions.
  • A fight against corruption by the proposed introduction of Criminal Record Certificates for Companie

    Due to existing problems with regards to companies competing for the undertaking of public projects, on the 28 th  September 2015 the Cabinet decided to give an end to the scandals involving the squander of millions of public money by approving an amendment Bill, which would add to the conditions for public tenders, the requirement of providing a Criminal Record Certificate for legal entities. Until today, this was not required due to gaps and loopholes in the existing Law. Provided this Bill will be passed into Law by its publication at the Official Gazette of Cyprus, companies applying for public tender will be asked to produce a certificate that would show they have a clean criminal record.

    Lis Alibi pendens is Latin for "suit pending elsewhere" . Both Articles 27 and 28 of the EU Regulation 44/2001 regulate the existence of lis alibi pendens and related judicial actions. In particular it is a doctrine that regulates the jurisdictional relationship of courts hearing concurrent proceedings involving the same or related causes of action between the same parties pending in the courts of different Member States.
  • The new features under the Recast Regulation 1215/2012

    The significance of the EU Regulation 44/2001 is well known as its rules determine both the jurisdiction of courts in the EU in civil and commercial disputes and the conditions for the recognition and the enforcement of their judgments in other EU member States.

    Case C-28/26 - Examines the right of a holding company to deduct input VAT on services acquired in the interest of its subsidiaries where those services are offered to its subsidiaries with no consideration.
  • European Commission proposes new VAT rules to support e-commerce and online businesses in the EU

    On 1 December 2016, the European Commission has published proposals to improve the Value Added Tax (VAT) environment for e-commerce businesses in the EU. Particularly, the proposed changes, aiming to allow start-ups and SMEs, to buy and sell goods and services more easily online.
  • Unjust Banking Practices in Swiss Franc Loan Agreements

    The Cypriot banking system is currently being confronted with the issue of providing foreign loans and in particular Swiss francs to both locals and foreigners to cover their housing requirements. Of principle concern in Cypriot and European Courts are the banking practices used in attracting clients to these financial institutions. It seems that misinformation through the use of various means of bank notifications and practices point towards the use of the distortion and the concealment of essential information to borrowers. The Cypriot banking system (that is sanctioned by European banking) in the provision of Swiss Francs did not in most cases provide a complete and proper briefing of the risks involved in these types of loan contracts that also incorporated exchange and interest rate fluctuations.


    The European Court of Justice (‘ECJ’) in the Gazprom Case (2015) held that anti-suit injunctions issued by arbitral tribunals in relation to the pursuit of Court proceedings within the EU, are not incompatible with the Brussels Regulation. The ECJ held that the BrusselsRegulation does not prevent a Court in an EU Member State from recognizing and enforcing an award containing such an anti-suit injunction, either pursuant to national law, or the New York Convention.