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75 PRODROMOU AVENUE, 1ST FLOOR, 2063 NICOSIA, CYPRUS
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Work +357 22 516 671
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www.cylegal.com

Stephanos Evangelides, Advocate, Director

Advocate, Director Stephanos Evangelides introduces us to S. Evangelides & Partners LLC

What do you see as the main points that differentiate S. Evangelides & Partners LLC., from your competitors?

Evangelides & Partners LLC. was born in 2017 with the ambition to build an innovative team of Advocates who share the same freshness, innovative minds and creativity, paying attention to details that matter, providing in essence a one-stop shop to its clients either directly or through its network of collaborators. It is important for us to be client-centric, with a humane approach to client’s needs.

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

We feel that the immigration and property sector are getting much stronger here in Cyprus with the two sectors being growing exponentially mainly due to the interest of foreign investors in Cyprus generally but also specifically through the very successful citizenship by investment scheme established by the Cyprus government with the Cyprus Citizenship by Investment program (CBI) now being the quickest route to EU Citizenship, and the CBI program now been deemed as one of the leading programs worldwide. Our firm, through its network of affiliate entities and government ministries are market leaders in this field, and together with our depth of knowledge and expertise in the corporate and commercial sector, we have become a one-stop shop for clients who wish to relocate their business to Cyprus.

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

Direct communication between client and all team members is very important for us. The client is introduced to all Associates dealing with their business at every touch point, giving them a very personalized service, drifting away from the bureaucratic approach taken by other firms and colleagues.  We are also one of the most cost efficient legal providers, taking each requirement at its own merit and being flexible with our billing process where necessary, with transparency and clarity.

Additionally, we found that having a more flexible time schedule, with a diversity of employees from different cultures and ethnical backgrounds has proved very productive and has had a positive effect on the relationship with clients and fellow associates alike.  Also rewarding employees for their efforts and focus on teamwork through the organization of social gatherings and various teambuilding events, (i.e. understanding the importance of a happy workforce), has enhanced the team ethos, productivity and service delivery.

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

Indeed, Technology is altering the way law is practiced, with more focus on efficiency, transparency and profitability.

Connecting with clients in an engaging manner that they prefer, enhances rapport, better communication and closer working relationships, built on trust and efficiency on service delivery.

Clients are a lot more IT savvy, with the surge of social media and the changing ways people do business.  Choosing communication channels that our clients want, enhances the client experience. We have seen that the growth in frequency of Skype and WhatsApp communication via secured instant real time messaging, as well as messaging through other platforms  has dramatically increased and their use of such preferred communication channels over the last couple of years has minimized the time required to communicate with clients.  Short online meetings through meeting conference software tools has also enhanced efficiency and strengthened communication, without the need for ongoing face to face meetings that can be hard to schedule due to time restraints. We have also noted that technology has now provided clients with easy access to all sorts of information, resulting in clients becoming even more sophisticated and in turn obliging us, lawyers to provide specific tailor made advice to meet each client’s needs, rather than taking a generic approach to their requests, offering real time transparent solutions and a very personal client/advocate business approach.

A point worth noting is that Cyprus local government stays up-to-date with technological trends and advancements, and hence we feel that technology has had a positive effect in meeting clients’ needs in a prompt, safe and detailed manner that they desire, creating a positive client experience.

Due to the comprehensive use of technology and various advancements, confidentiality of our clients and their data has become of paramount importance. We have invested in an IT infrastructure to safely handle our clients requirements, adhering to EU Data Protection Laws and respecting client confidentiality and client choices for data protection at all times, and at every touch point with all our associates and clients alike.  

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

There are many examples of this nature. We invariably advise on how clients may add substance to their local companies, and how to structure their deals for the benefit of their group of companies or how to structure their investments in movable and/or immovable property or benefit from Non-Domicile provisions and Cyprus’ favourable tax regime. A good example I would think is a restructuring we recently advised a UHNWI on, whereby, the UHNWI wished to sell a piece of land he owned. As the payment would be made in tranches, and due to changes in the VAT legislation, the land he was holding directly was transferred to a Cyprus company limited by shares and the deal was structured as an acquisition of shares. This may seem simple in nature, but it is reflective on the importance of keeping up with new changes in the legislation and being able to promptly advise clients on such matters.

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

Indeed. Current trends seem to suggest that the clients see their lawyer as part of their trusted advisors’ circle expecting advice and assistance that will enhance their business and/or protect their interests. It is a 24/7 job and may only be done by people who consider their profession their passion and not just a job. This is exactly what we look for in our colleagues and collaborators and our aim for the future is to be deemed as innovators and set an example on how lawyers practice their profession locally.

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

    Introduction
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    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.
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    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.
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    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

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  • CYPRUS

  • CYPRUS: ARBITRATION – ANTI-SUIT INJUNCTION ISSUED BY ARBITRATORS

    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.