Chrysostomides Advocates & Legal Consultants' first-rate team has extensive expertise in both corporate and personal tax matters. On the corporate tax side, it frequently advises on the tax aspects of M&A, reorganisations and joint ventures, as well as commercial projects. Its clients come from a broad range of business sectors, including finance, property and shipping. Elsewhere, a significant portion of the firm's tax work relates to private wealth matters and personal tax. It often advises high-net-worth individuals on tax-efficient schemes, which includes yacht and aircraft leasing arrangements, the use of trusts and individual tax domiciles and residency issues. Kypros Chrysostomides and George Ioannou co-head the department, which has a longstanding referral arrangement with a number of major international law firms.
Tax in Cyprus
‘It is a very strong practice with dedicated and highly professional lawyers in different areas of law, very responsive and cooperative.’
‘George Ioannou is one prominent adviser with excellent knowledge of Cypriot tax law and international tax, who has always provided accurate, timely and practical advice when requested.’
Marsh & McLennan Companies, Inc.
Thermo Fisher Scientific, Inc
Astrobank Public Company Limited
BRP Tax SA
Veeva Systems Inc.
The Unite Group
Atobatc Shipping AB
- Advised Milkiland N.V. (a company listed in the Warsaw Stock Exchange) on the Cyprus legal and tax matters regarding the restructuring of the Milkiland N.V. group of companies, an international diversified dairy producer with core operations in the CIS and EU and €170m assets, which included the transfer of corporate seat of the top holding company.
- Advised Pernod Ricard (a company listed in the Euronext Stock Exchange) on the Cyprus legal and tax matters regarding the group restructuring and issues that may arise in terms of permanent establishment, as well as on tax compliance matters.
- Provided tax advice to Marsh & McLennan Companies, Inc. (a company listed in the New York stock exchange) on share option plans for its Cyprus based employees, in light of the recent developments of the domestic tax laws.
Clerides, Anastassiou, Neophytou LLC has substantial experience of both cross-border and local transactions that interface with tax issues, such as M&A, IPOs, IP transactions and financings. It also has considerable niche expertise in PE and venture capital deals. The practice is frequently asked to assist major US, international and Magic Circle law firms with key cross-border deals and to bid together on significant projects. Department head Stavros Clerides has significant experience of high-value deals involving international tax planning/structuring. Andri Stylianou is another prominent member of the group.
Other key lawyers:
‘The firm holds a unique position in the Cyprus legal sector as one of the very few legal firms that has a huge expertise in tax. This gives them an advantage of being able to support their clients in complex legal tax matters.’
‘Stavros Clerides is outstanding. He is one of the very few lawyers in Cyprus who also holds qualifications as an accountant. This dual qualification puts him in the best possible position to assist clients in their complicated tax and legal affairs.’
‘The firm has a team of lawyers who are highly professional and not only meets but very often exceeds our expectations. They have a sound understanding of business matters and the practicalities involved and thus are able to assist us in navigating through various issues in an efficient way. Also their response times are impressive. Their fees are competitive and they are always flexible to accommodate budgets.‘
‘One of their strengths is that their corporate team is assisted by an excellent tax team and this way it has value added approach. This combination provides us with complete solutions for all legal needs of our clients.‘
‘Stavros Clerides has an exceptional grasp of tax and legal matters together and is of great assistance when we require innovative cross-border structuring work and tax planning. He is a brilliant lawyer with a deep understanding of corporate finance and business matters which inspire complete confidence as to the complex structures he suggests. We also work with Andri Stylianou who has wide experience in structuring and negotiating complicated cross-border transactions and is also very efficient.’
‘The firm offers specialist knowledge, high level of quality and prompt responses. They have an extremely efficient team of lawyers with in-depth knowledge of corporate and tax law and high levels of professionalism and solution-oriented attitude. They are among the very best in Cyprus, having the ability and willingness to put extra resources behind a matter, if required.’
‘Stavros is an outstanding practitioner, highly creative and skilled and has huge experience in the arrangement of complex structures. He has in-depth legal knowledge of specialised legal issues, common sense and provides valuable business-oriented advice. We also have contact with Andri Stylianou. She is very responsive and dedicated and combines legal and industry knowledge.’
Mobileye BV Group
Bluehouse Investment Advisors Limited
Phanos N. Epiphaniou Plc
Sakyrco Properties Ltd
Global University Systems B.V.
- Advised a leading global internet investment firm (GREENOAKS CAPITAL) on their investment into a start-up company building a neobank.
- Advised a significant number of clients with regards to their tax obligations with regards to the implementation of the EU Council Directive 2011/16 in relation to cross-border tax arrangements (known as DAC6), as amended.
- Advised Mobileye BV group (a worldwide leader in artificial intelligence) with regards to automotive mobile systems and a subsidiary of Intel of US, with regards to the tax implication of the contemplated restructuring of their Cyprus entity.
Elias Neocleous and Kyriacos Xenophontos lead the large group at Elias Neocleous & Co LLC, which is well-known for its ability to handle complex cross-border work; this includes devising and implementing innovative and tax-efficient structures for international transactions. It also has extensive experience of tax litigation and advises on a significant number of tax issues relating to employee share schemes and pension schemes. Clients include large international corporations, high-net-worth individuals and government organisations. The firm regularly works with major international law firms, including most of the Magic Circle and largest American firms and also acts for large corporations and government organisations. In addition, the department carries out a substantial amount of personal tax work for very wealthy individuals and their advisers. Elena Christodoulou is another name to note.
‘Elias Neocleous is a great and efficient tax professional.’
‘We have worked with the firm a number of times in the course of the years. It seems to me that Elias Neocleous & Co LLC is the most professional and reliable Cypriot law firm, with sufficient experience to deal with big projects. Most recent contacts were with Elias Neocleous. He is very responsive. The same for Kiriyaki Stinga.’
‘Very responsive and to the point. Are very flexible to adapt to client needs, very fast in delivery and are very good in explaining complex matters in understandable terms. We primarily worked with Kyriaki Stinga who was extremely pleasant to work with. Very proactive and anticipates client needs. Highly recommended.’
‘My interaction with the Elias Neocleous team has taught me that they are an extremely professional team and always have in depth understanding of the subject matter at hand. Very much involved in the details and provide confidence through their performance.’
‘People – professional and always available.‘
Mintra Holding AS (Norway)
City Capital Group
Invel Real Estate Partners
Avanti Communication Group Plc
Harvard Management Company
CPI Property Group
- Advised an industry-leading global online platform on its expansion into Cyprus requiring detailed Cyprus tax law advice on the tax treatment of issues pertinent to the client’s online activities, including the tax treatment and Cyprus tax obligations for the online services and products offered through the platform in Cyprus.
- Advised the trustees of a Cyprus international trust on various tax optimisation and structuring issues, including the Cyprus law tax treatment of the trust’s proposed trading activities in various classes of financial instruments.
- Advised a Cyprus alternative investment fund on the most tax effective structuring and optimum debt v equity mix of financing for an investment into a renewable energy project in Spain, including advice on the equity rights to be received by the fund.
Patrikios Pavlou & Associates LLC is seen by clients as a go-to adviser on the tax aspects of cross-border transactions and agreements, as well as tax litigation. Managing partner Stavros Pavlou is experienced in asssisting international corporate entities, large groups of companies and wealthy individuals with the implementation of their tax planning structures. He works with Stella Strati, who advises on tax issues arising from M&A, corporate restructures and reorganisations. In addition, another key individual at the firm is senior associate Stylianos Trillides.
Other key lawyers:
‘I have had a number of dealings with Stavros Pavlou (Managing Partner) who acted as an advisor to various mutual clients. I was impressed with his knowledge of the topics discussed, but also of the solutions that he put forward, analysing for each the strengths and weaknesses. In the cases that the transaction went ahead, his guidance proved invaluable.’
‘Patrikios Pavlou & Associates LLC can provide clients with distinctive advice on national and international law. What makes this practice unique is that it is exceptionally well organised. One of the firm’s assets is its diverse members in terms of education, training and qualifications and their commitment to achieving company goals via productive, efficient teamwork alongside with their skills and abilities working with clients originating from different environments with respect to the cultural diversity.’
‘Patrikios Pavlou team members are fully engaged in the firm, they will offer the client their ideas and suggestions and will always act proactively. They typically go beyond offering the “standard” legal service. Equally, the firm has qualified members in ADR.’
‘The relationship with the team is absolutely excellent. The team always supports us and they never let us down, especially where we need alternative solutions. Billing is pre-agreed where it keeps collaboration to an exceptional level. Individuals are very professional. They listen to us carefully and respond with compassion. A few key words for our business relationship that keeps it in an exceptional condition are: loyalty, trust, great communication skills and honesty.’
‘Good strong team, very capable on all matters concerning Cyprus. Stella Strati is highly capable and thorough. If you have a question relating to Cyprus definitely ask her!’
‘What differentiates the legal team at Patrikios Pavlou & Associates LLC from other law firms is the wide knowledge they possess around various tax legal matters, the speed in delivering their solutions and the professional service they provide to us and to our clients who seek their advice. They can handle cross-border matters involving tax law with ease and can provide practical and clear guidance on international tax planning matters.’
‘Apart from the professionalism, which characterises everything they do, they always talk to you in a positive manner. It is obvious that they love what they do. Stavros Pavlou, Senior and Managing Partner is enormously experienced in tax law matters involving multiple jurisdictions and he is also an expert on Cyprus international trusts. Along with the legal advice, he can provide clear strategic guidance to comprehensively support the matter in question.’
‘Partner, Stella Strati, who is also certified as an ADIT expert, is very responsive, meticulous in her work and provides practical and precise tax advice. We are also liaising with Stylianos Trillides, who is a senior associate at the firm and we are very happy with his skills; he is always available to assist and he provides immediate and hands-on legal advice with a positive attitude.’
Alpha Bank Cyprus Ltd
White & Case
Iason Skouzos & Partners
Ivanyan & Partners
Yiallourides & Partners
Chelco VAT Ltd
- Providing specialised tax and structuring advice to a real estate company in relation to a proposed acquisition between a company incorporated in Belize and a Russian company.
- Acting for a leading software engineering services provider based in Cyprus, in relation to the development of new software and advising on all the tax matters involved in the successful launch of the software.
- Providing specialised tax advice to a Cyprus joint venture company with respect to its merger with another two companies of the same group of companies, handling all relative matters and applying to tax authorities to complete the merger.
AGP Law Firm | A.G. Paphitis & Co. LLC has a strong reputation for advising on a broad range of tax issues, such as commercial and corporate tax, transfer pricing issues and tax litigation. It has been engaged by numerous local and international companies (including some large multinational Russian based companies) to provide them with tax opinions on the Russian CFC rules and the de-offshorisation regime in Russia. The firm is also instructed for advice on IP tax planning options. Angelos Paphitis, Michael Alexandrou and Nicolas Patsalis jointly lead the department, which also assists foreign investors with Cyprus property tax issues, as well as tax residency status matters.
‘Excellent team to work with – they come across as well organised and professional. Michael is my main contact and he is always on the ball. Excellent customer service from start to finish, without exception.’
‘Really a great team. The fees are very reasonable and the quality of service is excellent. They go the extra mile for clients and collaborate fully to understand the business needs and circumstances and provide solutions. I‘ve worked closely with Micheal Alexandrou for years and he and the team deliver quality service, very quick responses and turn around and with the utmost professionalism.’
Menkin Holding Limited
DS Express INC
Metaquotes Software Corp
Instant Trading EU Ltd
BW Stratosfera Limited
S.E. Power Group Limited
M.R. City Panorama Limited
Sameta Law Firm (Russia)
Walton Consultants (Ukraine)
Watson Family Trust
Forbes & Manhattan Ukraine
Field of Fortune Ltd
- Advised Menkin Holding Limited – which is involved in intellectual property rights and wants to create a project through Cyprus which will be dealing in investment activities – on how the company should be structured in order to be able to provide the aforementioned services and what the tax implications will be according to the tax laws of Cyprus. Following a series of tax opinions based on the tailor made requirements of the client, the project is in the process of being setting up.
- Advised a German citizen, who has explored the option of relocating to Cyprus both in a personal and corporate capacity, on a plan of settling his tax residency in Cyprus. The firm’s role was to assess in depth, their situation and factors which would determine which tax laws will be applied in order to advise on the most effective steps going forward. This process requires in-depth analysis of Cyprus tax for permanent residents from foreign countries, as well as for the setting up of the client’s business in Cyprus which he will be relocating from Germany.
- Assisted Instant Trading EU Ltd, which is a well-known international investment firm regulated by the Cyprus Securities and Exchange Commission (CySEC), with ongoing tax advisory services for their local and international operations, including tax reporting requirements to the Tax Authorities but also to CySEC.
The highly experienced tax practitioners at Antis Triantafyllides & Sons LLC advise corporates and individuals on a broad cross-section of Cypriot tax issues relating to cross-border and local transactions in a variety of industry sectors. Its client base includes local and international groups of companies, as well as financial and other local and international institutions. The litigation department, which is led by George Triantafyllides, is regularly involved in various high profile tax cases. Stelios Triantafyllides is another key member of the practice.
Builder’s Provident Fund
- Acting for Builder’s Provident Fund in four court appeal cases filed against the Republic of Cyprus in the Supreme Court of Cyprus, on behalf of the Builder’s Provident in Cyprus, in connection with the tax imposed on hundreds of property transactions carried out between 1991 and 2007 involving the Builder’s Provident Fund.
Harneys' group has expertise in niche areas of tax, as is evidenced by its ability to advise on the Automatic Exchange of Information in tax matters under US FATCA, the CRS and other AEOI regimes. It is also noted for its knowledge of the EU’s Directive on Cross Border Tax Arrangements and on mandatory tax reports. Elsewhere, other key areas of strength include advice on bilateral tax investigations under double tax treaties. Clients such as private equity firms, high-net-worth individuals and multinational corporations turn to the firm for advice. Aki Corsoni-Husain and Pavlos Aristodemou jointly lead the team, which also includes Marisa Efstathiou Petevi.
Other key lawyers:
‘Good team work, effort and excellent internal coordination among the team. Aki Corsoni-Husain: Amazing team leader.’
According to a client, the team at KINANIS LLC, is ‘highly responsive, solutions-based and trustworthy, and this instils a high level of confidence in us at every stage of our cooperation’. With Charalambos Meivatzis, Marios Palesis and Demetra Constantinou at the helm, the department is adept at advising on all aspects of direct and indirect taxation. It is skilled in niche areas such as blockchain-related matters, transfer pricing and international tax issues. The group is also recommended for its advice on personal taxation matters, CRS and work on DAC6 reviews.
‘We appreciate the professionalism and patience with which each of our matters is handled. All requests are processed promptly and e-mails are responded to almost immediately. Unlike our experience with larger tax providers, in Kinanis LLC we receive more personalised approach and attention. We feel that we are in good hands.’
‘Notwithstanding the ever-changing tax legislation, the tax department of Kinanis LLC always stays at the top of the league, informing us about all alterations and new regulations well in advance. In this regard we receive regular extensive and easy-to-read updates from the team. It gives us confidence to know, that the team receives constant training in its field to be up-to-date with the quickly changing taxation environment.’
‘It is a real pleasure to work with the professionals like Charalambos Meivatzis and Marios Palesis. They are exceptional in their services and technical advice. It is important for an adviser in the field of taxation to be knowledgeable, thorough and meticulous. We found these qualities in our tax advisers and are grateful that they always very responsive to our concerns and take time to explain complex issues.’
‘Our contact is with Mr. Marios Palesis, one of the partners at Kinanis LLC. He is easily available for telephone conversations, very knowledgeable on his subject, always willing to provide information and answers to our questions, very cooperative. Despite the relevant good size of the firm (for the standards of Cyprus) you get the personal touch of a smaller firm.’
‘Partners and staff are duly updated with all the legislative and administrative requirements. They are prompt and efficient. The are ready to hear your needs and suggest the best for your interests. In addition, their prices are competitive without affecting the quality of their service. The partners are well informed, approachable and solution oriented. We mostly work with Mr Marios Palesis. The staff is friendly, well trained, and punctual with deadlines.’
‘Kinanis LLC provides a personalised and tailored approach to their clients. Cooperation with them is far different from simply getting a service, but rather like acquiring a trusted partner and a caring advisor. They will not only answer your questions, but will highlight the areas and provide advice on improving your business. Kinanis LLC team has proven itself to be concerned about the client’s wellbeing 110% at all times.’
‘We have been closely cooperating with Kinanis LLC for more than twenty years. Kinanis LLC provides top quality legal, consulting and accounting services. The employees of the firm are very efficient and knowledgeable. Always quick feedback, great working culture, high professionalism make Kinanis LLC outstanding. Charalambos Meivatzis is very competent, focused and reliable.’
‘They are very responsive and their English is excellent. They are friendly. They try to solve the clients’ problems with a practical approach.’
Xomonel Enterprises Ltd
Ecomz Holding Limited
Farsonex Investments Ltd
Torwell Consulting Ltd
Istos Global Ltd
Oskalia Holding Ltd
Elsavco Audit & Tax Ltd
Twiti Investments Ltd
Lenhill Partners Ltd
Halman Consultants (Overseas) Ltd
E & G Economides LLC's varied workload ranges from the tax aspects of cross-border mergers, acquisitions and disposals to tax structuring issues involving trusts, companies and other vehicles. It also handles transfer pricing issues and advises on the application of double taxation treaties and EU directives. George Economides is a primary contact for clients such as wealthy individuals and multinational corporates. He also works closely with international law firms.
‘This company is very professional. For any advice I needed, they always were fast to reply. Personal touch, if it is the owner that come and help me or any one from his firm, they are always ready to help and advise.’
‘E&G Economides LLC provides the highest level of professional service. The team is very helpful, always in contact and consistent in providing up-to-date information in the management of the case. Always at hand to answer questions or clarify any legal terminology that may be unclear to a non-legal professional. I have no hesitation in recommending E&G Economides LLC and especially George to take care of your business.’
‘All people working for E&G Economides LLC (up to the high-level management) are very professional, have a very proactive approach, are capable of taking critical decisions, fulfill all tasks within deadlines, exhibit the highest level of productivity and George is always on top of everything, thus gaining our trust and reaching our expectations.‘
‘They are always easily reachable and fast with responding. They provide comprehensive advice and often prove that they understand the bigger, international context of the matters. George Economides – always my first contact in Cyprus. Sometimes I need to check something straight away and fast and George is always there to help. Having him on board on the project always gives a huge degree of comfort.‘
‘Besides their expertise, they listen carefully, fulfilling the client’s wishes within the boundaries of the law.’
‘Through a highly qualified and experienced team of professionals, they offer advice to individuals and companies on every aspect of Cyprus tax matters, as well as on international tax structuring. No matter the complexity of the structure or transaction, the team is able to ensure tax effectiveness and regulatory and legal compliance.‘
Calaciaco Holdings Limited
Ultimate Sports Nutrition Ltd (USN)
Cloudlayer8 Limited (CL8)
- Provided extensive advice and significant assistance to M&M VENTURES (2014) LIMITED in various aspects, including but not limited to tax and legal reports, obtaining a complex tax ruling from the Cyprus tax authorities, tax and legal reviews of various draft agreements.
- Advised CALACIACO HOLDINGS LIMITED as a separate tax engagement, the firm obtained advance Cyprus tax reorganization clearance a form of tax ruling) that the contemplated merger of Calaciaco and Small Valley is a qualifying ta/free company reorganisation.
- Drafted a tax analysis for PROGRESSIVE GLOBAL TRAINING (CY) LIMITED as regards all potential taxes incurred by the operations of the Cyprus company being the owner of the building.
AMG Mylonas & Associates, LLC advises on all aspects of business and corporate tax, under the leadership of Andreas Mylonas. The firm advises local and international clients on domestic and cross-border matters, such as those concerning transfer pricing, VAT, tax planning and financial management. It is also active in the fintech sector and advises on crypto projects.
‘Highly innovative and commercially-focused international tax and estate planning offering a wealth of tax structuring ideas and solutions. They are also capable of service delivery across a range of important international jurisdictions, which we have found invaluable. They also have a very welcome collaborative approach and work seamlessly with the clients as an extension of the client’s team.’
‘Total 24/7 client-focused availability, which is invaluable across time zones. The senior partner, Mr Andreas Mylonas, is both extremely competent and totally focused on achieving successful client outcomes at all times, and his understanding of the commercial outcomes that are required is unsurpassed. We look forward to continuing our close working relationship with him for many years to come as an invaluable extension to our own team.’
‘Agile and responsive, flexible in their advice and assistance, can adapt to non-typical situations. Andreas Mylonas with personal attention on the matter.’
- Advised a Cyprus Company on the acquisition of a Cyprus subsidiary company owner of PV Parks with a high volume of MWp and legal and tax planning advisory work.
- Advised a company in the shipping industry on an international tax planning structure.
Dimitria Coucouni leads the tax practice at Andreas Coucounis & Co LLC, which advises on matters such as tax residency, tax management and VAT, among others. It is also adept at handling tax litigation. The tax unit works closely with the firm's corporate department on a wide range of matters.
‘The firm is very well-organised, top-talented lawyers/accountants, deep knowledge of Cypriot tax laws/regulations/practices. The individuals in our team are extremely diligent, thoughtful, very responsive and have deep expertise.‘
Bank Julius Baer & Co Ltd
H&R BLOCK INC
EXPEDIA Group Inc
Prime Commercial Properties Management Ltd
- Advised Gartner Inc, a US listed global research and advisory company with a worldwide presence, on issues pertaining to the establishment and maintenance of Cyprus tax resident subsidiary companies owning and exploiting IP assets worldwide and/or acting as holding companies to other group subsidiaries.
- Advised H&R BLOCK, INC, a US listed tax preparation services company, on the tax and legal aspects relating to their intragroup financing arrangement and involving their Cypriot subsidiary company, which is acting as the group’s financier.
- Advised a Cypriot company on tax matters involving the disposal by the company of its investment participation in a USA entity owning and running a commercial centre in the USA.
Michael Kyprianou & Co. LLC fields a multidisciplinary team, which primarily advises on restructurings and reorganisations that generate tax work. It also advises on transfer pricing, as well as general tax matters in the context of redomiciliations, mergers and liquidations. On the contentious side, the group is also frequently instructed to represent clients in tax litigation. Lambros Soteriou and Tonia Antoniou are both highly regarded.
Other key lawyers:
‘We have mostly worked with Christos Tourvas at the Limassol office. His response in solving urgent enquiries of clients is outstanding as he has in-depth knowledge of the subject matter.’
Tempo Beverages Ltd
STELIOS AMERICANOS & CO LLC specialises in advising on international structures with a Cypriot dimension, in addition to assisting clients with local taxation issues. Areas of expertise include personal income tax, social insurance contributions for employers, employees and the self employed, as well as advising all types of entities (such as limited liability companies, foundations and investment trusts) on corporate tax matters. Stelios Americanos and Andreas Michaelides lead the team.
‘We are happy to have been working closely with Stelios Americanos LLC for a long time. We were working a lot on a complex project where different practices were involved and it is absolutely amazing that you could refer almost ANY questions of yours to them, rather than needlessly run around looking for professionals. So the good thing is that since every and each big project touches different practices – you can rely on Stelios and their experience.‘
REVERA LEGAL AND TAX SERVICES
FTL ADVISERS LTD
CLIFF LEGAL SERVICES
URVISTA LEGAL LAW PRACTISE
ASB CONSULTING GROUP
CHELSEA GROUP LLC
NICOSIA MALL HOLDINGS LTD
CORPORATE DEALS LTD
- Advised FTL ADVISERS LTD on DAC 6 and its effects in Cyprus structures and double tax treaties.
- Advised CLIFF LEGAL SERVISES on the new Cyprus Russia Double Tax treaty effects on current and future structures.
- Advised CORPORATE DEALS LTD on international tax planning for investors for the acquisition of property in Greece with a Cyprus holding structure.