The Legal 500

Twitter Logo Youtube Circle Icon LinkedIn Icon
Work +357 25 74 55 75
Fax +357 25 74 55 25

The firm

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, the firm has rapidly grown in size, encompassing associates in various business areas and expanding its practice to all business and commercial areas of law. It is dedicated to providing its clients with outstanding, highly personalised legal representation. During 2014, the firm became a full member of Pangea Net, an international network of independent law firms founded in 2009, now consisting of 26 members from jurisdictions all over the world. Joining Pangea Net signifies the firm’s commitment to strive to provide outstanding legal services and serve each client’s international needs.

Its lawyers have a sophisticated understanding of business and corporate law and the implications of commercial and business litigation. It provides legal advice, counsel and aggressive litigation services to individuals and corporations. The firm prides itself that it speaks through actions not words and it is highly regarded for its innovative actions in court and precedents achieved in corporate dispute, fraud and breach of privacy cases. Recent years have seen the firm securing precedent-setting victories in the areas of disclosure of information and confidentiality, the tracing of assets, arbitration law and insolvency proceedings. Advising and acting for the state competent supervisory authorities the firm formulates the law and sets court precedents relating to banks’ resolution regime and banking insolvency. The firm also has significant experience in cross-border transactions and in international commercial arbitration working with highly respected international law firms.

Areas of practice

Litigation and arbitration: the firm represents clients in the District Court and the Supreme Court of Cyprus and its lawyers have worked on multinational projects simultaneously involving court litigations and international commercial arbitrations that covered issues of anti-hostile takeover defence, insolvency, asset tracing and serious civil fraud and conspiracy disputes. The firm regularly participates and offers assistance, representation and advice in domestic and international arbitration and mediation for individual and corporate clients at all stages of the arbitration process.

General corporate and commercial: the firm’s corporate practice group works closely with the tax advisors to deliver its clients cost-balanced and tax-efficient corporate solutions. It is engaged in the full range of counselling buy-side and sell-side clients in public and private M&A transactions, including: asset acquisitions, equity purchases and sales, mergers and consolidations, recapitalisations and reorganisations, tender offers, cross-border transactions and joint ventures.

Banking and finance: the firm has handled a significant volume of high-value and high-profile international transactions related to acquisition and project finance, refinancing, real estate financing, syndicated and bilateral lending, acting as Cyprus law counsel for both lenders and borrowers.

Trusts and asset protection: the firm advises on the creation and administration of trusts in Cyprus. In this area, its clients include individuals wishing to set up trusts, beneficiaries and trustees. Its services include advising on the choice of trustees/protectors, the tax position of trusts and the exercise of trust powers and indemnities, review, analysis and development of estate plans for high-net-worth individuals, and the preparation of documents necessary to implement such plans.

Corporate fiduciary services: the firm, through its corporate services arm, Koupercon Fiduciaries Ltd, provides clients with a broad spectrum of corporate services. Its general corporate practice includes advising businesses in all phases of development, from startups to well-established companies. The firm provides advice to new enterprises regarding the advantages and disadvantages of different business forms on all legal aspects of their operation.


Other officesAthens

International groupingsPANGEA NET (International Network of Independent Law Firms)
Chartered Institute of Arbitrators
Society of Trusts & Estates Practitioners (STEP)
International Bar Association

Number of lawyers 10

at this office 6

Above material supplied by P. N. Kourtellos & Associates LLC.

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.