Michael Kyprianou & Co. LLC

Ioanna Solomou, Partner at MICHAEL KYPRIANOU & CO LLC, Law Firm explains how the firm is adapting to the evolving nature of the legal sector and clients’ changing needs   What do you see as the main points that differentiate MICHAEL KYPRIANOU & CO LLC from your competitors? MICHAEL KYPRIANOU & CO LLC is one of the largest law firms in the Republic of Cyprus. The Law Firm has retained an excellent calibre of lawyers across several subject matters and jurisdictions. The Law Firm’s lawyers can advise a broad spectrum of clientele according to their needs, from corporate and commercial, intellectual property, real estate, tax, banking and finance, shipping and dispute resolutions to much more. The Law Firm advises clients across the globe on both domestic deals and intricate cross-border transactions, offering market-leading capabilities. It has offices in multiple countries, including Cyprus, Greece, Germany, Malta, Israel, Poland, the UAE, Ukraine, and the UK, making it the only firm in Cyprus with a substantive presence in so many countries. The Law Firm has been receiving excellent results with legal directories such as the Legal 500 for many years now, with several partners and associates being recognized as Leading Lawyers and Next Generation Partners. The Law Firm is also a member of exclusive and specialized networks such as the International Fraud Group, Multilaw, and World Link for Law. The Law Firm is also frequently instructed from “Magic Circle” law firms and law firms in other jurisdictions, providing local advice and support to internationally renowned firms.   Which practices do you see growing in the next 12 months? What are the drivers behind that? With the increasing complexity and risks in the economy and legal world, clients are seeking leading-edge insights and strategies for cybersecurity and data privacy. This growth is driven by the need to protect sensitive information and comply with the ever-evolving regulatory framework and landscape. Additionally, high – stakes matters are surging, and the exceptionally risky nature of these cases is driving growth in litigation requests. Furthermore, companies and businesses are implementing their strategic needs in response to the post-COVID-19 environment and ongoing geopolitical conflicts, particularly in the realm of the shipping industry, capital markets thus the mergers and acquisitions are also growing. These practices are expected to see significant growth due to the evolving legal landscape and the increasing demands and complexities faced.   What's the main change you've made in the firm that will benefit clients? At MICHAEL KYPRIANOU & CO LLC, Law Firm we are committed to continuously improving our services to better meet our clients' needs. Over the last few years, we have implemented and introduced additional procedures, technologies, and methods designed to facilitate and enhance our clients' experience. Notable advancements include the introduction and integration of advanced communication tools to ensure seamless and efficient interactions with our clients, allowing for quicker response times. Our procedures are tailored to prioritize client needs, ensuring that their concerns are addressed promptly and effectively. We have also adopted the latest technologies in the legal sector, with our IT Department constantly updating us to provide more accurate and efficient services, from document management to invoicing to case tracking and beyond. Additionally, we have refined our internal processes to reduce turnaround times and improve the overall quality of our services. These changes are part of our ongoing commitment to delivering exceptional legal services and ensuring that our clients receive the best possible support.   Is technology changing the way you interact with your clients, and the services you can provide them? Technology is significantly transforming the way we interact with our clients and the services we provide at MICHAEL KYPRIANOU & CO LLC, Law Firm. Other than having implemented advanced communication tools we have also adopted cutting-edge legal technologies that enhance our service delivery. These technologies include sophisticated document management systems and case tracking tools, which improve the accuracy and efficiency of our services. Moreover, technology has enabled us to offer more personalized and context-centric experiences to our clients. For instance, video communication has become the norm, allowing for face-to-face interactions that are more meaningful and effective. Clients can now choose from multiple channels to interact with us, such as social media, emails, SMS, and our website, providing them with the flexibility to select the method that works best for them. Overall, the integration of technology into our operations has empowered our team to focus more on our clients' needs and less on standard operating procedures, ultimately enhancing the quality of our services.   Can you give us a practical example of how you have helped a client to add value to their business? At MICHAEL KYPRIANOU & CO LLC, Law Firm we are frequently requested to assist clients in their needs, either being complex litigation issues or banking and finance transactions or even their daily business operations that affect their business needs and developments. A specific example of our team adding value to our client’s business is assisting them in achieving GDPR compliance which significantly added value to their business. The client requested us to provide them with a needed comprehensive guidance on data privacy regulations to ensure that all necessary measures were in place for handling personal data within their organization being an organization handling special categories of personal data at a large scale. We provided detailed explanations and assisted the client in respect of their GDPR compliance. Additionally, we helped them update all relevant documentation to this effect (either internally managed documents or documents presented to the public domain) to ensure full compliance. Our expertise and support in this area not only helped the client meet regulatory requirements but also enhanced their reputation and trustworthiness in handling sensitive information. This collaboration exemplifies our commitment to delivering exceptional legal services and adding value to our clients' businesses by ensuring they are well-equipped to navigate complex regulatory landscapes.   Are clients looking for stability and strategic direction from their law firms - where do you see the firm in three years’ time? Clients are indeed looking for stability and strategic direction from their law firms, especially in the current economic and geopolitical climate. At MICHAEL KYPRIANOU & CO LLC, Law Firm, we are committed to providing our clients with the stability and strategic direction they seek. Over the next three years, we envision the Law Firm continuing to grow and adapt to the evolving legal landscape. We aim to further enhance our capabilities in dispute resolution, cybersecurity, data privacy, capital markets, financial services and real estate which are all driven by the increasing complexity and risks in the economy and legal world. Additionally, we plan to expand our presence in key international markets, leveraging our existing offices in multiple countries. By continuously improving our services and adopting the latest technologies, we will ensure that our clients receive the best possible support and guidance in navigating their legal challenges efficiently and effectively.

What do you see as the main points that differentiate MICHAEL KYPRIANOU & CO. LLC from your competitors? We are an international law firm with offices in Cyprus, Greece, Malta, Ukraine and representative offices in London & UAE. Moreover, we maintain very close relations with the leading international law firms globally. As a result, having full legal capability in the above four countries, we are able to offer accurate, time sensitive advice in the shortest possible time, whilst we are in the position to understand and address the individualities and complexities involved when dealing with cross-jurisdictional issues. Specifically, when it comes to Greece, Cyprus and Malta we are truly the only law firm with such capability. And most commonly, we do work with other Greek law firms in a cooperative way, rather than in a competitive way. Additionally, our team is skilled at understanding the intricacies of the industries in which our clients operate and, as a result, we are trusted by a large number of organisations with providing legal support in relation to all their commercial and corporate matters on an ongoing basis. The diversity of the matters that we handle, from corporate restructurings and M&A to industry specific regulatory issues relating to our clients’ industry or sector (e.g. funds, banking, financial services, investments) is what differentiate Michael Kyprianou & Co LLC from the competitors. The leading international law firms that refer work to us on a repetitive basis and the longstanding clients who trust our firm consistently with their corporate/commercial matters is the safest indication that can be regarding the quality of the services of our law firm. Moreover, our litigation / dispute resolution & arbitration department focuses on high value commercial disputes of an international nature. Our success rate in the cases that we handle and the very positive feedback that we receive from our clients is evidence that our firm stands as a beacon of excellence.   Which practices do you see growing in the next 12 months? What are the drivers behind that? The legal practice areas that will grow in 2024 are corporate / commercial law, real estate and property law, private client and tax law.   What's the main change you've made in the firm that will benefit clients? Our main change is the boosting of our human resources, adding to the team persons with expertise in certain fields and developing our current team. This of course comes on top of our investment in working premises and the availability of technology.   Is technology changing the way you interact with your clients, and the services you can provide them? Acknowledging that technology plays a major role in any business sector, the firm has access to advanced information technology infrastructure, granting our lawyers and support staff all the tools and services that enable faster information and data processing, real-time collaboration, and above all, robust information security measures. Digital accessibility has improved how we manage and share documentation with clients. We can securely store project-related documents, granting clients easy access and reducing delays caused by back-and-forth email exchanges. The advanced security features provide peace of mind to our clients. Multi-factor authentication, encrypted communication, and regular security updates ensure that our clients’ sensitive data remains protected.   Can you give us a practical example of how you have helped a client to add value to their business? Being a good lawyer is more about knowing the law. It is about deeply understanding the law so as to enable the client to maximize their output from the application of the law. One such practical example was the optimization of the financial operations of a leading company involved in providing services to the pharmaceutical industry. Via the deep understanding of the intricacies of the law and the optimized application of the appropriate provisions into the business structure of the company, we were able to obtain significant savings in areas where previously, due to poor financing structuring, there was a significant leakage of resources. This is just one of many. We have also significantly assisted a multinational organization in optimizing financing transactions so as to maximize their output in relation to a $400million transaction. And a much smaller one that fits the profile. We have advised a new private museum to establish itself in an area (video gaming), in full compliance with the law, where it was always believed (erroneously) that this was not permitted. Concluding, I would simply like to add that on top of deep understanding of the law, it is important to maintain relations with the regulatory authorities based on integrity, respect and proficiency. And have worked very hard to achieve this.   Are clients looking for stability and strategic direction from their law firms - where do you see the firm in three years’ time? Indeed, clients do very much look for both from the law firms. Especially in our position, where our international element provides a wider insight than normal. Legal certainty and foreseeability of the legal outcome of corporate actions is paramount for corporate clients. When we look at the international aspects of such actions, then inherent certainty provided by general counsels is naturally reduced and this is where we are well placed to assist, by bridging the jurisdictional gap. Moreover, a law firm with international presence can give insight in how things are regulated in other jurisdictions and how processes may have been optimized elsewhere. And from the feedback of our clients, we can note that they do find this knowledge and awareness to be very useful in relation to strategic direction planning, even in business structuring. Over the next three years we are deploying an investment plan in our office premises, which are all fully owned. Moreover, we are investing into legal talent, both from Greece and abroad. As a result, we do hope and expect to be in a position to be able to properly and promptly address a significantly higher volume of clients, moving to an extent from the niche advisory and private client / large business operation that we operate now to include some middle size business clients as well.