Firm Profile > Elias Neocleous & Co LLC > Limassol , Cyprus

Elias Neocleous & Co LLC

Banking and finance Tier 1

Elias Neocleous & Co LLC regularly advises local and foreign banks on complex deals and receives referrals from international law firms. The ‘client-oriented and experienced’ team advised a consortium of banks from Austria, Croatia, Italy and Slovenia on the Cypriot law aspects of a €20m facility for the construction of a new hotel. Other key clients include Coutts and Bloomberg. Demetris Roti heads the team, which includes ‘precise and meticulous’ duo Elias Neocleous and Costas Stamatiou. The team is also ‘very experienced in asset recovery work’.

Commercial, corporate and M&A Tier 1

Elias Neocleous & Co LLC advised a Cyprus-based group of companies with assets in the CIS on a potential eurobond private offering of notes in Switzerland. Bloomberg is another key client. Elias Neocleous and Demetris Roti are key members of the ‘resourceful and knowledgeable’ team.

Employment Tier 1

Elias Neocleous & Co LLC is skilled at advising senior employees as well as major multinationals such as Mercedes-Benz and Diageo. It also advises the British High Commission on all employment issues. The group has particular expertise in devising remuneration and incentive packages for senior employees. Nicholas Ktenas has considerable experience in this space.

Intellectual property Tier 1

Elias Neocleous & Co LLC has an active team that advises leading software companies. It also advises international pharmaceutical companies on regulatory matters. Nicholas Ktenas heads the group.

Maritime and admiralty Tier 1

Elias Neocleous & Co LLC advises clients such as Aegeon Insurance, Limassol Marina and Nordea Bank. The team handles a large amount of debt recovery work for carriers and is adept at advising on ship and superyacht purchases as well as handling proceedings before the admiralty jurisdiction of the Supreme Court of Cyprus. Head of team Costas Stamatiou has 'an excellent understanding of the local requirements on international transactions’.

Real estate and construction Tier 1

Elias Neocleous & Co LLC acts for clients including Galaxia Property Specialists and Stylianou Bros in ongoing litigation and on various conveyancing matters. The ‘active’ team also frequently handles complicated real estate matters for overseas clients. Elias Neocleous and Christos Vezouvios are the primary contacts.

Tax Tier 1

Elias Neocleous & Co LLC has a dedicated team of tax lawyers, chartered accountants and other tax specialists that regularly work on complex cross-border projects and investments. It is also skilled at advising on domestic tax work and in tax litigation. Clients include Avanti Communications Group, Kellogg’s and Limassol Marina. Elias Neocleous is a key name.

Dispute resolution Tier 2

Chrysanthos Christoforou heads the department at Elias Neocleous & Co LLC. The team successfully brought a claim to the European Commission against the Republic of Cyprus; the claim was brought on behalf of two individuals and concerned an unlawful refusal to recognise academic qualifications obtained from a Greek university. Elias Neocleous and Costas Stamatiou are noted.

EU and competition Tier 2

Elias Neocleous & Co LLC has a diverse and active practice. Highlights included advising Galileo Global Education on the competition aspects of the acquisition of various higher educational institutions in Italy and Cyprus. Maria Kyriacou heads the large team that includes Ramona Livera and Elena Christodoulou.


The firm

Elias Neocleous & Co LLC is among the largest firms in South East Europe and the Eastern Mediterranean, with more than 140 lawyers and tax consultants. All are English-speaking and members of staff speak most European languages, as well as major Asian languages. The firm is generally regarded as a regional leader, with a particular forte in cross-border work, advising  international clients on all aspects of Cyprus and European law and handling the largest and most demanding cross-border assignments.

Having pioneered the development of business ties between Cyprus and Russia, the firm has widened its market focus to include China, Israel, the middle east, India, Asia and South America, acting for leading companies from these regions as they enter the European market. The firm continues to invest in its human resources and infrastructure in order to provide clients with service of the highest quality.

Areas of practice

Admiralty and maritime: Deals with the registration of vessels and aircraft
under the Cyprus and other flags and all aspects of ship finance. It also handles disputes and executions of judgments against assets of shipping and aviation companies worldwide.

Banking and finance: Advises on the Cyprus aspects of major cross-border
finance transactions, including all types of loans and derivatives. It has strong links with commercial and investment banks, trust companies and  underwriters.

Corporate and commercial/mergers and acquisitions: Advises on corporate management and governance, formation, merger and acquisition of companies in Cyprus and abroad, corporate reconstruction and reorganisation, capital raising transactions, and private equity work. It has particular expertise in investment via Cyprus to and from Central and Eastern Europe, Asia and South America.

Competition and European Union law: Advises multinational enterprises investing in Cyprus on competition and merger control issues under domestic and EU law.

Intellectual property: advises on the acquisition, registration and protection of all types of intellectual property. The firm specialises in high-level advice to international clients on the protection and exploitation of intellectual property using Cyprus-based structures in order to benefit from Cyprus’ advantageous IP taxation regime.

Litigation and arbitration: Deals with administrative law, admiralty, international trade law, land, matrimonial and personal injury cases, debt collection, defamation, negligence and other torts, and conducts domestic and international arbitration, mediation and other forms of ADR.

Infrastructure and project finance: the firm assists clients on landmark developments, global PFI and PPP projects. Advice is specifically tailored to dovetail with the corresponding commercial, banking and finance and tax aspects.

Tax and international tax planning: Advises on tax law and treaties, plans multinational structures and handles tax disputes. A specialist team within the department focuses on tax planning and wealth management for HNWIs and UHNWIs in conjunction with their home country advisers.

Real Estate and Immigration: Deals with all issues related to real estate, including agreements for buyers and sellers, expatriation of funds, estate planning and succession issues, particularly for HNWIs.
Extensive experience in citizenship applications, employment permits, permanent residence permits and other immigration matters.

Department Name Email Telephone
Managing Partner, Companies, corporate management, trustee and fiduciary services, Tax/international tax planning Elias Neocleous +357 25110110
Tax/international tax planning, trustee and fiduciary services Kyriacos Xenofontos +357 25110156
Corporate finance, capital markets, securities Demetris Roti +357 25110161
Corporate finance, capital markets, securities Dimitris Papoutsis +357 25 110145
Real estate, immigration and residence, wills and administration of estates Christos Vezouvios +357 25110221
Admiralty and shipping, Shipping companies, ship registration, ship finance and aviation Costas Stamatiou +357 25110141
Banking and Finance, Corporate and Commercial, Employment Law Andrea Kallis Parparinou +357 22110311
Litigation and Dispute Resolution Christia Middleton +357 26110382
Litigation and Dispute Resolution Nicolas Tsardellis +357 22110305
Commercial and general litigation, Arbitration (local and international) Chrysanthos Christoforou +357 25110136
Commercial and general litigation Antonis Glykis +357 25110169
Banking law, finance, insolvency Demetris Roti +357 25110161
Banking law, finance, insolvency Costas Stamatiou +357 25110141
Employment law, Intellectual property and trade marks, Internet, e-commerce and information technology law Nicholas Ktenas +357 22110324
Intellectual property and trade marks Ramona Livera +357 22110327
Matrimonial and family law Christos Melides +357 25110113
Matrimonial and family law Anna Demetriou +357 25110121
Corporate and Commercial, Intellectual Property Efrosini Monou +357 22110230
Arbitration (local and international), Administrative law Christos Melides +357 25110113
Photo Name Position Profile
 Anna Demetriou  photo Anna Demetriou
Mr Antonis Glykis  photo Mr Antonis Glykis
Mr Christos Melides  photo Mr Christos Melides
Mr Elias Neocleous photo Mr Elias Neocleous Managing Partner
Number of lawyers : 143
at this office : 80
Other offices : Brussels
Other offices : Budapest
Other offices : Kiev
Other offices : Nicosia
Other offices : Paphos
Other offices : Prague

Elias Neocleous, Managing Partner

Elias Neocleous, Managing Partner

What do you see as the main points that differentiate Elias Neocleous & Co LLC from your competitors?

Our size: we are the biggest law firm in Cyprus, as regards the number of professionals. Due to this fact, we have the staff strength and depth of resources required to take on large multinational assignments at short notice and complete them to the highest standard. As a result, we can meet any deadlines, however demanding, without adversely affecting service to other clients.

But the benefits of our size do not stop there; this also allows our staff to specialize in their chosen field. The firm is truly departmentalised and equipped with the necessary information technology and knowledge management infrastructure to deal with the pressing demands of today’s multinational work. This privilege, together with our in-depth knowledge and experience of local or cross-border transactions allows us to match the levels of service offered by the world’s major legal centres.

Our staff receive ongoing training and support to keep pace with developments in both the local and global markets and we are supported by the latest technology to ensure efficiency of service. Our lawyers have the mindset of the international legal professionals; we use remote access and other technology to serve our clients no matter where in Europe or the world they are located, greatly augmenting capabilities to meet client’s expectations and needs.

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

If we have to name a few practices and sectors, these would definitely include financial services and funds, tax, the non-performing loans by credit institutions (NPLs) and energy. More specifically:

As regards the financial services and funds: The plethora of EU initiatives regulating the fields of financial services has also deeply impacted the local legislation, which is constantly updated to align with the demands of EU regulations and/or directives. From the developments of MiFID II to those of the new Securitization Regulation or the Prospectus Regulation, our teams have been monitoring updates and proactively assisting our clients with their regulatory requirements and the practicalities of facing these new demands. I believe that these will continue in the next 12 months, as regulatory compliance and risk management is high in the agenda of their internal operations.

Turning to the collective investments and their managers, the new Cyprus regime that was introduced last summer has positively impacted on the registration of new alternative investment funds and we see an increasing demand for the authorization of such structures. We firmly believe that there is a great potential of growth for the Cyprus funds industry which we expect to continue in the coming months.

As regards tax: Given the rapid implementation of international initiatives enacting the ongoing agenda of the OECD on the Inclusive Framework on Base Erosion and Profit Shifting (BEPS) and of the EU’s ATAD and rules to avoid hybrid mismatches as well as the emphasis on transfer pricing rules, we see our Corporate and Commercial and Tax practices and departments expanding significantly during the course of the next 12 months. We have adopted a proactive approach to assist our clients to identify their tax and corporate structures which may no longer be compliant or best practice in this ever-changing tax environment, and we work closely with our clients to adjust their corporate structures and to stay ahead of these changes.

As regards the NPLs: This cross-departmental sector has drawn the attention of our clients from different angles: on the one hand, our litigation teams act on mandates from borrowers or lenders with regards to disputes or enforcement over the underlying assets of NPLs; on the other hand, our Corporate and Commercial, M&A and Financial Services teams have seen an increase in their advisory and transactional activities assisting clients looking to acquire or invest in the portfolios of NPLs (or their underlying security) by existing structures or new ones, such as the credit acquiring entities recently introduced to tackle this issue. We are confident that this practice will continue to grow over the following months based on the increasing interest by local credit institutions, the regulator and the relevant market players.

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

Our professionals advising clients have been working closely with IT experts and we streamline and simplify solutions using technology in the delivery of our legal work so that it can be done effectively and cost-efficiently for our clients.

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

Of course. We are very  enthusiastic in adopting technology and embracing the changes. We are currently launching our “Innovation Legal Hub” and we are completing the construction of a state-of-the-art  data center in Limassol, which is located right next door to our Head office.

Uniquely for Cyprus, our firm is a pioneer of legal technology and innovation in Cyprus: contrary to the widely held view that technology will adversely impact on the traditional work of lawyers which leads some colleagues to be afraid of technology, we embrace and adopt the tools that technology offers to legal professionals for the benefit of our staff and clients. Access to online legal resources, a highly sophisticated knowledge management and time keeping system, workshops and seminars on integrating AI in the everyday life of a lawyer and recipients of legal services are only few of the examples that are part of our everyday vocabulary here at Elias Neocleous & Co LLC.

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

At Elias Neocleous & Co LLC we may be located in Cyprus but our mindset is that of an international law firm: we urge our professionals to acquire an outstanding level of sophistication in their area of practice and a business understanding of the clients’ needs which they inevitably demand. For us, a business lawyer can no longer be just a lawyer in the traditional and old-fashioned sense but needs to have a commercial, tax, accounting and investment understanding and approach.

Our people come from, and have gained experience in, a number of countries and are familiar with the operations and demands of a truly globalized business environment. Our clients, usually market leaders in their sectors, are accustomed to the highest-level of legal guidance in their transactions and demand that high level of legal service in their dealings in or through Cyprus. For us being selected as their local advisor is a privilege we do not take lightly: we assign the best people to serve the specific needs of each individual client to ensure they get timely, accurate and cost-efficient advice and assistance.

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

We see ourselves as the ‘firm of the future’ and to this direction we focus all our resources on:

  • Our human capital;
  • Technology;
  • Robust internal control and compliance procedures.

We aim to professionalize the delivery of legal services for the benefit of our clients, partners and staff and create a prosperous firm.