Firms in the Spotlight Legal market overview

Patrikios Pavlou & Associates LLC

Patrikios Pavlou & Associates LLC logo

Patrikios Pavlou & Associates LLC is a leading, highly recommended and multi-awarded law firm based in Cyprus. With more than 56 years of experience in the local and international legal market, the firm is renowned for its involvement in some of the largest cross-border transactions and complex litigation and arbitration matters and its exceptional client …

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Soteris Pittas & Co L.L.C

Soteris Pittas & Co L.L.C logo

SOTERIS PITTAS & CO LLC is a boutique law firm, focusing on the areas of law related to business activity and dedicated to providing its clients with outstanding, highly personalized, legal representation.

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P. N. Kourtellos & Associates LLC

P. N. Kourtellos & Associates LLC logo

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, …

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A.G Erotocritou LLC

A.G Erotocritou LLC logo

A.G. Erotocritou LLC has firmly established itself as a “top tier” leading law firm in Cyprus, having cultivated an unrivalled reputation for excellence, with an impressive track record and an all-embracing legal service capability, underpinned by an acute sense of commercial awareness.

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Karamanolis & Karamanolis LLC

Karamanolis & Karamanolis LLC logo

Karamanolis & Karamanolis LLC is a boutique firm specialized in Commercial and Corporate Litigation and Arbitration.

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AMG Mylonas & Associates, LLC

AMG Mylonas & Associates, LLC logo

AMG Mylonas & Associates, LLC is an independent and dynamic entrepreneurial boutique law firm based in Limassol with associates in Greece and a professional network across Europe, Russia, Ukraine, North America, Middle East and Asia. Its law practice is one of the new generation of Cyprus law firms based in Limassol, built on delivering personal …

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Legal market overview in Cyprus

The pandemic has had an impact on Cyprus but the island does not appear to have been as badly affected as some other countries.

E-commerce is increasingly coming to the fore in Cyprus. This trend was prevalent even before Covid-19. Cloud computing is a hot topic at the moment and companies are seeking advice on GDPR compliance.

Firms that specialise in dispute resolution continue to be busy. Currently there seems to be a particular focus on litigation. Shareholder agreements are being reviewed by law firms and several shareholder disputes are on the brink of litigation. Many companies however have liquidity problems. Due to these financial constraints, numerous law firms are noticing that shareholders are more amenable to the settlement of their disputes out of court as the court process is slow in Cyprus. Also, there is plenty of regulatory work available for firms that specialise in this evolving area.  The government wants to continue to attract foreign investment in the country.

In addition there has been an uptick in restructuring work.  Several firms have been busy providing legal opinions on the capacity of Cypriot companies on major cross-border deals. The non-performing loan market has been active too.

Firms that have a strong private wealth offering are weathering the financial storm. There has been an increase in instructions related to wealth planning, particularly in regard to the establishment of family offices.

One major recent development is the controversial proposed abolition of the passport scheme in Cyprus. The citizenship through investment scheme has been in operation in its current form since 2013. This has allowed foreign individuals to invest a substantial sum of money in the country in exchange for citizenship. It has generated a lot of work for numerous law firms on the island.

Overall, the legal market in Cyprus is becoming more sophisticated as firms are developing specialism in different practice areas. Those that have also carved out niche expertise in fintech and the renewable energy sector should have a good year.