Event Report

On 4 February, Legal 500 returned to Nicosia to host the GC Summit: Cyprus 2026, bringing together senior in‑house leaders and industry experts for a morning of high‑level discussion at the newly refurbished Landmark Hotel. In a full room of corporate counsel, the event opened with welcome remarks from Francisco Castro, Research Editor at Legal 500 and editorial lead for the summit. He introduced the themes shaping the day’s agenda and highlighted the summit’s role as a key platform for learning, exchange and connection within Cyprus’ corporate legal community. He underscored the event’s growing importance as one of the country’s leading hubs for professional insight and strategic networking, setting the tone for a dynamic and forward‑looking programme.

Panel sessions opened with a substantive and forward‑looking discussion hosted by Elias Neocleous & Co, examining Cyprus’ formal adoption of EU Regulation 2019/452 through the Law on the Establishment of a Framework for the Control of Foreign Direct Investments of 2025. This legislative development marks a significant shift in the country’s investment governance, introducing a structured screening mechanism centred on control, influence, investor identity, and national security considerations.

Panellists Andrea Kallis, Emilios Charalambous (Elias Neocleous & Co), Alexey Drobyshev (Sumsub), and Rafaella Charalampous (Pepperstone EU) unpacked the practical implications of the new framework. Their discussion highlighted the operational challenges investors and advisers now face, from enhanced reporting obligations to navigating the interplay between commercial objectives and public‑interest safeguards.

A recurring theme was the importance of foresight: legal teams must anticipate regulatory expectations early, embed robust due diligence processes, and ensure that cross‑border investment strategies reflect both compliance and responsible governance. As Cyprus positions itself within the EU’s broader security‑driven investment landscape, the panel underscored the critical role of legal advisers in guiding clients through this evolving regime.

The second session, hosted by Hadjianastassiou, Ioannides, explored the increasingly complex crisis environment confronting modern organisations. From cyberattacks and regulatory investigations to litigation and reputational shocks, crises today escalate rapidly and demand decisive, informed leadership from general counsel.

Moderated by Kypros Ioannides, founding partner at Hadjianastassiou, Ioannides, the panel brought together Dr. Constantinos Adamides, associate professor at the University of Nicosia, Nayia Ziourti, founder and executive director at Perpetuals.com, and Yiannis Ioannides, partner for cyber risk services at Deloitte. Their discussion emphasised that the GC’s role in crisis response extends far beyond legal analysis. they are strategic anchors, balancing regulatory expectations, operational realities, and business continuity under intense pressure.

Speakers highlighted the decisive impact of preparation: scenario planning, governance frameworks, and cross‑functional coordination can materially influence outcomes in the critical early hours of an incident. The panel also stressed the value of external advisers who are embedded, business‑aware, and ready to act—ensuring organisations can respond with clarity, speed, and resilience when stakes are highest.

Afterwards, a brief coffee break allowed delegates to continue the morning’s discussions in a more informal setting, exchanging perspectives on regulatory developments, crisis preparedness and the evolving expectations placed on in‑house legal leaders across Cyprus’ corporate landscape.

The final panel examined the transformation of corporate legal teams as they increasingly assume strategic leadership roles within their organisations. With regulatory complexity, digital disruption, and global uncertainty reshaping business priorities, GCs are expected to deliver not only legal expertise but also commercial insight and forward‑looking strategic guidance.

Moderated by Francisco Castro from Legal 500, the session featured Helen Michaelou, general counsel at fintech broker Tickmill and Angeliki Kappatou, general counsel at shipping company Celestyal Cruises. Together, they explored how in‑house teams can strengthen their strategic foothold by aligning legal priorities with organisational goals, developing meaningful performance indicators, and cultivating trust‑based relationships with senior executives and boards.

Speakers shared practical examples of legal functions driving innovation, enabling digital transformation, and contributing to long‑term enterprise resilience. The discussion reinforced a clear message: the modern GC is no longer a reactive problem‑solver but a proactive, influential leader shaping business strategy and organisational success.

The conference concluded with a dedicated networking session, accompanied by a light lunch, giving delegates the opportunity to continue their discussions, exchange perspectives and strengthen connections formed throughout the morning. Legal 500 thanks its partners Elias Neocleous & Co, Hadjianastassiou, Ioannides and Moebius Software, and looks forward to returning to Nicosia soon.