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

Elias Neocleous & Co LLC
NEOCLEOUS HOUSE, 195 MAKARIOS III AVENUE, 1-5TH
LIMASSOL, CY-3030
Cyprus

Cyprus > Banking and finance Tier 1

Under the leadership of Demetris Roti, the banking and finance team at Elias Neocleous & Co LLC is a regular advisor to international law firms, leading Cypriot banks and financial institutions, major international commercial and investment banks, and private equity funds. The team acts for clients on the full spectrum of matters, from NPL portfolios to Cypriot law aspects of major domestic and international deals. The team is also praised for its advice on financial services regulation and work on the establishment of regulated structures in Cyprus. Nicosia-based Andrea Kallis Parparinou is a leading name alongside Limassol-based managing partner Elias Neocleous and consultant Dimitris Papoutsis.

Practice head(s):

Demetris Roti

Other key lawyers:

Key clients

Avanti Communications Group PLC

Altamira Asset Management Limited

APS Holding a.s

European Bank for Reconstruction and Development

International Finance Corporation

Eurobank Greece and Eurobank Cyprus

RBS Coutts

Bank of Cyprus

Bank of Scotland

Bloomberg

Hellenic Public Bank Company Limited

Emma Delta Variable Capital Investment Company Limited

Lloyds Bank

Credit Suisse

Deutsche Bank AG

General Electric Company

Raiffeisen Bank International AG

Jordan Kuwait Bank

Limassol Marina

Prodea Investments Limited

Byblos Bank

Cyprus > Commercial, corporate and M&A Tier 1

Elias Neocleous & Co LLC is one of the preferred advisors in Cyprus for large multinational companies that are seeking advice on a broad range of corporate and commercial issues. Its large team receives a steady stream of mandates on a variety of corporate and cross-border mergers and acquisitions, restructurings and insolvencies as well as corporate finance work. It also deals with many HNWI and UHNWI clients and their corporate structures. The group has considerable sector expertise in the renewable energy space and has been involved in a sizeable number of major wind and PV projects that have been developed in Cyprus. Head of team is managing partner Elias Neocleous. Demetris Roti is also active in substantial  transactions.

Practice head(s):

Elias Neocleous

Other key lawyers:

Key clients

Acer Inc

Acer Europe S.A

Airbnb

Allea Group Holdings

Aphrodite Hills Resort

Avanti Communications Group

Bank of Cyprus

Booking.com

Blackstone Group International LLP

Bloomberg

CYREIT Variable Capital Investment Company PLC

International Finance Corporation

Lenovo Corporation

LongWing Energy S.C.A

Avanti Communications Group plc

Emma Delta Variable Capital Investment Company Limited

European Bank for Reconstruction and Development

Futures Industry Association

Jordan Kuwait Bank

KKCG SE

Landmark Hotel Nicosia

Limassol Marina

Mall of Cyprus

National Pangea Real Estate Investment Company

EPCM Holdings Limited (South Africa)

Deutsche Bank AG

Prodea Investment Company Limited

PeWeTe Group

Pepperstone Group Limited

SOLEK HOLDING SE

BW Shipping (formerly Bergesen Worldwide)

Cyprus > Dispute resolution Tier 1

Elias Neocleous & Co LLC has a robust and large team that is organised into specialist groups that handle the full array of contentious matters from banking and finance disputes to intellectual property matters. Other areas of expertise include advising on personal injury, health care, international trade and trust disputes as well as disputes before the EU courts. The practice is also recommended for its experience in assisting its corporate and M&A departments on large cross-border transactions by reviewing pending disputes and conducting due diligence on target companies. Names to note include Chrysanthos Christoforou, Costas Stamatiou and Nicolas Tsardellis along with Nikos Korogiannakis who leads the Brussels office. Christina Middleton has left the firm to become a member of the judiciary.

Practice head(s):

Chrysanthos Christoforou; Costas Stamatiou; Antonis Glykis; Christos Melides; Nicolas Tsardellis; Anna Demetriou; Nikos Korogiannakis

Other key lawyers:

George Tsardellis

Key clients

Bank of Cyprus

Altamira Asset Management Limited

APS Holding a.s

Intel Capital Corp

Pafos Municipality

Notesco Financial Services Limited

CYREIT Property Fund

Eurobank

Hellenic Bank Public Company Limited

Reuters NCaterpillar

Prodea Investments Limited

Citibank

Iron FX Global Limited

KKCG SE

Tesco Bank

Gordian Holdings Limited

Limassol Marina

Aphrodite Hills Resort

ACE European Group

Cyprus > Employment Tier 1

Elias Neocleous & Co LLC has a broad practice that advises senior executives and employers on various contentious and non-contentious matters. Particular areas of expertise include conducting large scale due diligence exercises on potential acquisition targets and advising employers on remuneration, benefits and incentive packages. The team has also been busy advising senior employees on various matters such as unfair dismissal and constructive dismissal claims. The group frequently collaborates with large international law firms in the review and drafting of employment agreements and helps multinational companies with the local implementation of their global employment policies and procedures. Andrea Kallis Parparinou is a name to note. Former practice head Nicholas Ktenas left the firm in 2021.

Other key lawyers:

Key clients

A.C Nielsen NoHuawei Technologies S.A

The British High Commission in Cyprus

U-TX Technologies

Fedex Express Europe

Amazon (Amazon web services)

BHC

Cyprus Public Transport Limited

UAE Ministry of Foreign Affairs & International Cooperation

Booking.com

KLM Group

Cyprus Tourist Development Company Limited

Avanti Communications Group

Bloomberg LP

Ministry of Foreign Affairs of Dubai.

Pepperstone Group Limited

Greenmont VCIC Limited

Cyprus > EU and competition Tier 1

Nicholas Ktenas leads a dedicated team at Elias Neocleous & Co LLC that specialises in EU and competition law.  Merger control work is a cornerstone area for the practice, and the firm has particular sector expertise in shipping and more recently in betting. Other strengths lie in EU-related litigation and the group has handled a number of significant instructions before European bodies. It works closely with several major international law firms on various complex mandates. Other names to note are senior associate Ramona Livera and associate Elena Christodoulou.

Practice head(s):

Nicolas Ktenas

Other key lawyers:

Key clients

Aristo Developers

Avanti Communications Group

Aqua Masters

Blackstone Group International Partnership LLP

British High Commission, Nicosia

Byblos Bank

Credit Suisse

Cyprus Tourism Development Corporation Ltd

Cyprus Public Transport Limited

Diageo

European Investment Fund

Huawei Technologies

Invel Real Estate Partners

Jordan Kuwait Bank (Cyprus Branch)

KKCG Group

Limassol Marina

Mitsubishi Motors

Mall of Cyprus

NBG Pangea Limited

OPAP S.A

Stoiximan

Rolls Royce

Samsung Group

Cyprus > Intellectual property Tier 1

Elias Neocleous & Co LLC advises comprehensively on all types of intellectual property matters, from patent and trade mark protection to design registration, copyright and the licensing of technology. It is also retained by clients (including several global pharmaceutical companies) to monitor trade mark and patent applications in the context of identifying potential infringements of their intellectual property rights. Nicholas Ktenas leads the team, which is also recommended for its strength in pharmaceutical regulatory matters. In addition, the practice is renowned for its work with various start-up companies and it has a successful track record of representing several major brands in litigation. Senior associate Ramona Livera is another name to note.

Practice head(s):

Nicholas Ktenas

Other key lawyers:

Key clients

Bolton Technologies Limited

Blackstone Group International Partnership LLP

Boltonshield A.G

British High Commission, Nicosia

Cyprus Mail Company Limited

Cyprus Tourism Development Corporation Ltd

European University Cyprus

Four Seasons Hotels

Huawei Technologies

KKCG Group

Limassol Marina

Mining Technologies RT JSC Y

Samsung Group

Cyprus > Maritime and admiralty Tier 1

The admiralty and shipping department at Elias Neocleous & Co LLC is headed by Costas Stamatiou. The team is skilled at advising banks, owners, managers, charterers, cargo owners and their respective insurers on a myriad of complex marine matters. It is also adept at handling shipping litigation and admiralty proceedings including proceedings for the arrest of ships or cargo to secure unpaid debts. Associate Andreas Christofides is another key figure, who is particularly recommended for his work on contentious matters such as proceedings in the Admiralty Court in relation to cargo damage claims and vessel arrests, often working with international firms.

Practice head(s):

Costas Stamatiou

Other key lawyers:

Key clients

Abamba Limited

KKCG NSheerwater

Limassol Marina

Aphentrica Marine Insurance

Franman (Cyprus) Limited

ISD Dunaferr

Jarillo Shipping Company Ltd

BW Shipping (formerly Bergesen Worldwide)

Argo Coral Maritime Limited

Western Maritime

Lloyds of London

Cyprus > Real estate and construction Tier 1

The real estate department at Elias Neocleous & Co LLC is headed by Christos Vezouvios. The team has been active in dealing with the property acquisition aspects of significant cross-border M&A transactions, as well as on major PPP projects, renewable energy and leisure projects. It acts for some of the largest real estate funds and developers on the island and also acts for many substantial companies in the real estate sector that are active in other regions such as Greece, CEE and CIS. The department is also well-placed to advise private clients and family offices on international property deals and those who are interested in acquiring property in Cyprus. Associate Christiana Georgiou is also well-regarded.

Practice head(s):

Christos Vezouvios

Other key lawyers:

Key clients

Bank of Cyprus

Limassol Marina

Prodea Real Estate Investment Company

CYREIT Variable Capital Investment Company PLC

Atterbury Group

Leptos Estates

Landmark Hotel, Nicosia (ex-Hilton Hotel)

Invel Real Estate Partners

British High Commission/ UK Foreign Office

KIP Consulting Group

Alokozay Group

Celox

Eurobank

Evolutsia Conglomerate Limited

Galaxia Properties Limited

Hassapis Group

Hellenic Bank

Oriflame Cosmetics

PNS Restaurants Limited

Qatar Mining Company

Radisson Hotels

RREEF Real Estate

SOLEK HOLDING SE

Cyprus > Tax Tier 1

Elias Neocleous & Co LLC has a large and experienced specialist tax team under the direction of Elias Neocleous  and Kyriacos Xenophontos. The first-rate practice also supports the firm on various matters such as devising tax efficient structures for international transactions as well as advising on a significant number of tax issues that arise in employment law such as on employee share schemes and pension schemes. The department is probably best known for its skill in complicated cross-border work but it also handles the full range of domestic tax issues as well as tax litigation. In addition it has a strong relationship with some major international law firms. Its client portfolio also consists of large international corporations, private clients and government organisations. Associate Elena Christodoulou is another key member of the team.

Practice head(s):

Elias Neocleous; Kyriacos Xenophontos

Other key lawyers:

Key clients

City Capital Group

Invel Real Estate Partners (Greece)

Airbnb NCPI Property Group

ABB

Actavis

Avanti Communications Group plc

Bloomberg

Booking.com

Eurobank

Harvard Management Company Inc

H&M

Huawei Technologies

Invel Real Estate Fund

KKCG SE

Limassol Marina

NBG Pangea Limited

Oriflame Cosmetics

Rosneft

Sanofi-Aventi

 

The firm: Elias Neocleous & Co LLC is among the largest firms in south east Europe and the Eastern Mediterranean, with more than 150 lawyers and other professionals. 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.  It advises international clients on all aspects of Cyprus and European law and handles 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, USA and South America. It acts for leading companies from these regions as they enter the European market. The firm is committed to continuous investment in its human resources and its 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 advises on ship sale agreements, charterparties and other types of contract. It also handles disputes and execution of judgments against assets of shipping and aviation companies worldwide including ship arrests.

Banking and finance: Advises on the Cyprus aspects of major cross-border
finance transactions, including all types of syndicated lending, asset finance and leveraged and acquisition finance. It has strong links with commercial and investment banks, trust companies and underwriters.  Clients are appreciative of our ‘assistance and responsiveness’.

Financial services and regulation: Deals with the EU and Cyprus applicable framework on (i) banking and payment services, including those under the banking recovery and resolution regime and the deposit guarantee scheme, (ii) investment services and activities under the Markets in Financial Instruments Directives (MiFID II and MiFIR) as implemented in Cyprus, including under directives and circulars issued by European Securities Markets Association (ESMA) and the  Cyprus Securities and Exchange Commission (CySEC); (iii) the EU and Cyprus framework on listed equity and debt securities under the Prospectus Regulation and respective local laws, the Public Offer and Takeover Bids laws and regulations, the Market Abuse Regulatory and regulatory requirements regarding market disclosures and transparency towards regulators as well as capital markets transactions; (iv) the structuring, authorization, supervision and transactions of collective investments, such as alternative investment funds and their managers and UCITS and (v) the regulation of insurance and reinsurance undertakings and intermediaries, under the applicable Cyprus regime.

Corporate and commercial/mergers and acquisitions: Advises on formation, corporate management and governance of companies; formation and use of trusts; mergers and acquisitions of companies in Cyprus and abroad including private and public mergers, takeovers, demergers and disposals; joint venture agreements; corporate reconstruction and reorganisation, inward and outward domiciliation of entities, capital raising transactions and offerings, private equity, stock options and purchase and sale of securities work.

It has particular expertise in investment via Cyprus to and from Central and Eastern Europe, Asia and South America.

The department also advises local, multinational and international companies on matters of licensing, procurements, e-commerce, labelling, agency and distribution, consultancy services, consumer protection, concession and operating agreements, and the department specialises in regulatory matters relating to electronic communication, information technology, pharmaceuticals and data protection (GDPR and NIS Directives).

Competition and European Union law: Advises multinational enterprises investing in Cyprus on anti-trust  and merger control law issues under domestic and EU competition law and also on  distribution agreements and cartel investigations. Our firm has experience with the government and the Competition Authority and a deep understanding of local competition regulation. We offer our clients a tailored service. We also act as counsel to several administrative and quasi-governmental bodies, thus strengthening our relationships with the country’s key stakeholders in competition law.

Employment law: Elias Neocleous & Co LLC is skilled at advising senior employees as well as major national and multinational companies. It also advises the British High Commission on employment matters and it is the exclusive representative in Cyprus of the Employment Law Alliance Network, the largest and most prestigious network of labor and employment lawyers, with more than 3,000 attorneys in over 100 countries. The team has particular expertise in drafting employment contracts and related documentation as well as in advising on a very wide range of employment law matters, including termination of employment, employee rights and obligations, statutory benefits, employee incentive schemes, transfer of undertakings and protection of employees (TUPE), health and safety at work, collective bargaining, etc.

Energy : Our staff have more than 20 years’ experience in advising potential investors in a wide range of energy projects ranging from onshore and offshore oil and gas exploration operations to renewable energy projects. We have up-to-date knowledge and experience of the relevant national, EU and international legal and regulatory environment applying to all types of energy projects. Our specialists in public procurement have extensive experience in assisting clients in preparing and submitting tenders to the relevant government authorities and in subsequent negotiations and finalisation of contracts. Our aim is to help clients identify profitable opportunities and exploit them as effectively as possible. We have assisted several leading participants in the energy market with projects such as applications for exploration licences, public procurement procedures and the negotiation and drafting of all types of energy agreements, including public contracts with joint operation agreements and energy suppliers or drilling contractors. Our unmatched tax expertise allows us to advise clients on the most tax-effective structuring arrangements, taking account of the international nature of the industry and the various tax regimes involved. In addition, we have long experience in dealing with the regulatory bodies involved in the monitoring of compliance with the requirements of Cyprus and EU environment, energy and oil and gas legislation.

Intellectual property: advises on the acquisition, registration and protection of all types of intellectual property. The firm specializes, inter alia, in advising international clients on the protection and exploitation of intellectual property using Cyprus-based structures in order to benefit from Cyprus’ advantageous IP taxation regime. Existing clients include clients with household brands in business sectors which include software, electronic service payments, pharmaceutical products, sports and personal care products.

Information technology- data protection regulation:The information technology- data protection privacy team is a multidisciplinary team with extensive experience in e-commerce and privacy laws as well as information security services. Consisting of both legal and technical experts, the team specializes in assisting clients to familiarize themselves with and to comply with their obligations as controllers and/or processors towards data subjects, including clients, employees and business partners, under the European General Data Protection Regulation and applicable Cyprus and international data protection laws. This is mainly achieved by assessing an organization’s existing data protection procedures and developing effective organizational controls and governance structures using a number of specialized techniques and approaches such as gap analysis, data mapping, data protection impact assessments, data protection by design, raising awareness, defining and drafting of privacy notices and policies, managing data security breaches, and the provision of ‘Data Protection Officer’ services.

Litigation and arbitration:  Elias Neocleous & Co LLC is home to the strongest litigation and dispute resolution department, in terms of size and experience, in Cyprus.  In 2019 it was awarded Benchmark Litigation’s (Europe) ‘Law Firm of the Year – Cyprus’ and, additionally in the same publication, Chrysanthos Christoforou, Partner and ‘Head of Department’ was named ‘Lawyer of the Year-Cyprus’.

We are the law firm of choice for prestigious clients seeking assistance with international and domestic litigation and have been involved in many recent high-profile cases.  We are also highly experienced in all forms of alternative dispute resolution. Our client base includes leading international law firms (and their clients), leading financial institutions, investment firms, national and international business corporations and, private individuals.

Uniquely in Cyprus our team is divided into four specialist sectors under the guidance of partners Antonis Glykis, Anna Demetriou, Chrysanthos Christoforou and Christos Melides.  This separation allows for the development of specific expertise in each sector and plays an important role in ensuring that we achieve the best possible outcomes for our clients.

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:  Elias Neocleous & Co LLC has the largest and most experienced law firm tax department in Cyprus.  We have an excellent reputation for delivering high quality ‘up to the minute’ advice and planning.  Our tax and tax planning resource includes specialists with legal, accounting and financial backgrounds. This combination together with close cooperation with other teams across the firm enables us to provide our clients with robust, commercial solutions to their tax problems.

Our clients include international law firms, large domestic and international corporations, financial institutions, high-net-worth individuals and government organisations.  We have a marked expertise in cross-border transactions and associated tax planning issues and have been involved in numerous projects across Europe, Asia and the Americas.  We are well versed in contentious issues and corporate tax policy issues.  The expertise shown in our international work is mirrored in our domestic tax work where we also have significant capacity and experience.  Our clients say ‘my sincere appreciation for your remarkable attitude, which is very rare.’

Real estate and immigration: Deals with all issues related to real estate, including acquisition and sale of immovable property, legal due diligence for property acquisitions,  estate planning and, particularly for HNWIs, succession issues. Extensive experience in citizenship applications, employment permits, permanent residence permits and other immigration matters.

Private client: Elias Neocleous & Co LLC has an established track record in providing high quality services to private clients and high-net-worth individuals. Both our department and our department head, Elias Neocleous, are ranked as tier 1 performers by a host of independent rating agencies including the 2020 Chambers HNW Guide. Clients derive significant benefit from the fact that our dedicated team forms part of the largest international law firm in Cyprus. This allows the team to draw specialist expertise from several departments and offices, in Cyprus and across Europe, to provide a ‘one-stop’ service which is specifically tailored to the clients’ needs. Whatever our clients’ objectives are, be they tax minimization, estate planning, philanthropy, or any other goal, our team has the skill set and the experience to allow them to achieve it in a tax efficient and legally compliant manner.

Department Name Email Telephone
Managing Partner, Companies, corporate management, trustee and fiduciary services, Tax/international tax planning, private client Elias Neocleous elias.neocleous@neo.law +357 25110110
Tax/international tax planning, trustee and fiduciary services Kyriacos Xenofontos kyriacos.xenophontos@neo.law +357 25110156
Corporate finance, capital markets, securities Demetris Roti demetris.roti@neo.law +357 25110161
Corporate finance, capital markets, securities Dimitris Papoutsis dimitris.papoutsis@neo.law +357 25 110145
Real estate, immigration and residence, wills and administration of estates Christos Vezouvios christos.vezouvios@neo.law +357 25110221
Admiralty and shipping, Shipping companies, ship registration, ship finance and aviation Costas Stamatiou costas.stamatiou@neo.law +357 25110141
Banking and Finance, Corporate and Commercial, Employment Law Andrea Kallis Parparinou andrea.kallis@neo.law +357 22110311
Litigation and Dispute Resolution Nicolas Tsardellis nicolas.tsardellis@neo.law +357 22110305
Commercial and general litigation, Arbitration (local and international) Chrysanthos Christoforou chrysanthos@neo.law +357 25110136
Commercial and general litigation Antonis Glykis antonis.glykis@neo.law +357 25110169
Banking law, finance, insolvency Demetris Roti demetris.roti@neo.law +357 25110161
Banking law, finance, insolvency Costas Stamatiou costas.stamatiou@neo.law +357 25110141
Intellectual property and trade marks Ramona Livera ramona.livera@neo.law +357 22110327
Matrimonial and family law Christos Melides christos.melides@neo.law +357 25110113
Litigation and Dispute Resolution, Matrimonial, Family law and Mediator Anna Demetriou anna.demetriou@neo.law +357 25110121
Arbitration (local and international), Administrative law Christos Melides christos.melides@neo.law +357 25110113
Photo Name Position Profile
Mrs Elena Christodoulou photo Mrs Elena Christodoulou Associate
Mr Andreas Christofides  photo Mr Andreas Christofides Associate
Mr Chrysanthos Christoforou photo Mr Chrysanthos Christoforou Partner
Mrs Anna Demetriou  photo Mrs Anna Demetriou Partner
Ms Christiana Georgiou  photo Ms Christiana Georgiou Associate
Mr Antonis Glykis  photo Mr Antonis Glykis Partner
Mrs Andrea Kallis Parparinou  photo Mrs Andrea Kallis Parparinou Partner
Ms Ramona Livera photo Ms Ramona Livera Senior Associate
Mr Christos Melides  photo Mr Christos Melides Partner
Mr Elias Neocleous photo Mr Elias Neocleous Managing Partner
Mr Dimitris Papoutsis  photo Mr Dimitris Papoutsis Legal Consultant
Mr Michael Pelosi photo Mr Michael Pelosi Legal Counsel
Mr Demetris Roti photo Mr Demetris Roti Partner
Mr Costas Stamatiou photo Mr Costas Stamatiou Partner
Mr George Tsardellis  photo Mr George Tsardellis Senior Associate
Mr Nicolas Tsardellis  photo Mr Nicolas Tsardellis Partner
Mr Christos Vezouvios photo Mr Christos Vezouvios Partner
Mr Kyriacos Xenophontos  photo Mr Kyriacos Xenophontos Partner
Number of lawyers : 150
at this office : 80
Arabic
Czech
English
French
German
Greek
Hebrew
Hungarian
Italian
Russian
Spanish
Turkish
Ukrainian
Urdu
IBA (International Bar Association)
ABA (American Bar Association)
Society of Trust & Estate Practitioners (STEP)
Fraudnet (ICC)
International Tax Planning Association (ITPA)
Cyprus Bar Association
Cyprus Chamber of Commerce & Industry
Cyprus-Russian Business Association
ELA (Employment Lawyers Association)
Other offices : Brussels
Other offices : Budapest
Other offices : Kiev
Other offices : Nicosia
Other offices : Paphos
Other offices : Prague

Elias Neocleous & Co LLC DIVERSITY POLICY 

An important part of our corporate mission and strategy is the promotion of diversity and inclusion. As a firm we strongly support a diverse workplace, and, we leverage the effects of this diversity to maintain and enhance our competitive business advantage. Our top diversity and inclusion priority is the recruitment and selection of a diverse workforce. We are proud of the fact that we employ talents from all over the world, with differences in background, skills, abilities, experiences and values. Our inclusive workplace promotes a cooperative, collaborative, open and fair culture, which offers equal opportunities to all employees. With a diverse and inclusive corporate culture, we comprehend and respond better to the needs of our clients, delivering the utmost in quality service. 

Elias Neocleous & Co LLC CORPORATE SOCIAL RESPONSIBILITY 

Our company, recognizing the special importance of corporations for the entire community, has taken several initiatives with a very significant social footprint, in the framework of its corporate social responsibility.  Some of these initiatives are summarized below. 

  • The firm has established cash prizes in the schools of our Head Office hometown, to inspire and reward students who exhibit excellent academic achievements and excellent ethical behaviourFor Elias Neocleous and Co LLC, excellence is a concept of paramount importance that encompasses all its activities, from recruitment policy to final provision of legal services. It is, therefore, logical that the promotion of excellence should be an integral part of the corporate social responsibility policy that we pursue. The prizes are intended to encourage excellence and to foster an empathetic bond between future citizens and professionals. 
  • The organization of regular blood donation sessions for staff is also an activity that is part of our corporate social policy. We view it as being extremely important for the community to foster a culture of donating blood.  Cyprus has a small and highly multi-cultural population and the strengthening of blood banks is a crucial factor in helping to save many of our fellow citizens’ lives daily. 
  • Elias Neocleous & Co LLC was one of the major sponsors of the Legal 500 GC Summit Cyprus event. Around 80 leading legal minds in Cyprus gathered at the Landmark Nicosia to  discuss the pressing issues facing in-house counsel during that period. This included how they had successfully handled crises and how the experience will inform their approach to the challenges of the future. During the event, our firm organized live panel discussion concerning negative interest rates and their impact both on business and on the Cyprus economy. 
  • Elias Neocleous & Co LLC was also a sponsor and co-organizer of the Reflect Festival 2020. This was the largest festival in Southern Europe and the Middle East which, due to Covid 19 pandemic restrictions,  took place online  with over 40 events, 70 speakers and 10 top Start-up presentations. During the event, the participants had the opportunity to virtually attend many presentations and get acquainted with technological initiatives such as AI, healthcare, and mobility amongst others. As the first law firm in Cyprus to pioneer a new age of legal service delivery through significant technological innovations in artificial intelligence (i.e. NEOLAW.ai) we embrace these extraordinary possibilities. 
  • Elias Neocleous & Co LLC was one of the main sponsors for the Limassol Economic Forum 2020.  The Forum is the most important annual business conference in Cyprus attracting senior business executives, academics, politicians, and a variety of public officials from around the world. Due to Covid 19 restrictions, last year’s conference also took place online.  It still, however, featured a host of internationally respected speakers. The conference’s main theme was the interesting topic of “What it takes to be a CEO in the 2020s” and, naturally,  the firm’s Managing Partner was an active participant. 

 

 


International presence 

Elias Neocleous & Co LLC is a world-class law firm, which strives to protect the interests of clients and to help them identify and achieve their goals. Key to our success in obtaining these goals is the provision of prompt, professional advice of a consistently outstanding quality. 

We are the largest law firm in Cyprus by a considerable margin and are generally recognised as a leading law firm in the South-East Mediterranean region. We have more than 150 professionals operating out of three offices in Cyprus and an international network of offices in the main destinations for investment via Cyprus. 

The team 

Elias Neocleous & Co LLC is made up of a diverse team of individuals, many with practical international experience in  various countries, including: 

  • Greece 
  • The United Kingdom 
  • South Africa 
  • Australia 
  • Switzerland 
  • Russia 

Together, the staff of Elias Neocleous & Co LLC speak a range of languages including Greek, English, German, Italian, Spanish, Russian, Ukrainian, Czech, Hungarian and Bengali. So, wherever your business takes you, Elias Neocleous & Co LLC will be able to help you communicate in the local language. 

Our staff have extensive and incomparable professional experience in assisting clients in cross-border investment projects  in and through Cyprus to Western Europe and other jurisdictions in the CIS, Middle East, Asia, Africa and the Americas. 

The network 

Elias Neocleous & Co LLC is a multi-national firm with offices in Prague, Kiev, Budapest and, most recently, Brussels. Our expert lawyers in each office are qualified in their respective Bar Associations. Their prime focus is on issues of commercial, corporate and banking law. All have considerable experience in their fields of expertise, a fact which has resulted in considerable successes for their clients. 

Despite an already impressive international presence, our firm regularly undertakes new initiatives designed to upgrade its international profile.  The most recent of these relates to our Brussels office. 

Brussels office 

We have strengthened our presence in Western Europe with the acquisition of Jurispectrum, a niche business law firm which operates in Belgium and Luxembourg. 

Our expanded Brussels office is headed by the experienced EU Law attorney Nikos Korogiannakis. Nikos, a member of the Athens, Brussels and Luxembourg Bar Associations, holds a postgraduate diploma in European Law from the University of Brussels and has handled more than 150 cases before the EU Court of Justice as well as numerous complex international trade disputes. 

The Belgian firm, which operates as a limited liability company under the name of Elias Neocleous & Associates, focuses on European law, including public procurement, competition, state aid, banking and tax law.  It also represents parties in international trade disputes and, on behalf of its clients, engages with all major European institutions. 

Our expanded presence at the heart of the EU establishment has added new, specialist resources to our firm and enables us to provide innovative and improved high-level services to our clients. 


CLIENT: Mr. George Constantinides
COMPANY/FIRM: Group CFO, Invel Real Estate Management (Cyprus) Ltd
TESTIMONIAL: I would like to express my thanks to the entire Elias Neocleous & Co LLC team for its diligent and expeditious approach on all company matters.


CLIENT: Ms. Addressa LinFidelis
COMPANY/FIRM: Associate at Latham & Watkins LLP
TESTIMONIAL: Special thanks for Elias Neocleous & Co LLC lawyer’s understanding regarding the outcome of our case. Our partnership with Elias Neocleous & Co LLC is most valuable for us.


CLIENT: Mr. Fraser Younson
COMPANY/FIRM: Consultant Solicitor from Keystone Law
TESTIMONIAL: I recently completed the sale of my house in Cyprus with Elias Neocleous & Co LLC and I was impressed with their Property lawyer who handled the matter. Her professional, calm and measured approach was amazing and really reassured us when things were not that straight forward. As a solicitor of some 40+ years in the private sector, I must say that I rarely came across a young lawyer with such a combination of professional and personal qualities.


CLIENT: Ms. Sarah Shaw
COMPANY/FIRM: Partner at Hogan Lovels International LLP
TESTIMONIAL: The client is very pleased with the result so we would like to express our appreciation for the assistance and responsiveness that the Elias Neocleous & Co LLC lawyers demonstrated.


CLIENT: Mr. Aristos Aristidou
COMPANY/FIRM: Director of Lordos United Plastics Public Ltd.
TESTIMONIAL: The lawyer of Elias Neocleous & Co LLC who handled my case prepared quite well documented and thorough written pleadings for our administrative recourse. I have been particularly satisfied with her assistance and the services of the Elias Neocleous & Co LLC team.


CLIENT: Ms. Diana Rivera, Legal counsel
COMPANY/FIRM: CMC XXI, S.L.U
TESTIMONIAL: I have been astonished by the extraordinary work and availability of the Elias Neocleous & Co LLC team, despite the tight timeframe we gave them. The scope, content and deep of their legal work are incredibly good. I’m frankly impressed and thankful.

Elias Neocleous, Managing Partner

Elias Neocleous, Managing Partner of Elias Neocleous & Co LLC, reflects on life in a modern law firm and the impact of the Covid 19 pandemic. 

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

As I have said in previous years, our differentiating feature is our commitment to quality in depth across every aspect of the firm’s operations.  In my view, achieving and maintaining quality is a dynamic rather than a static process.  Thus, as a firm, we are always seeking to improve ourselves, our systems, our infrastructure and, above all, our service to our clients.  

We have always recognised the importance of technology and digitialisation in the modern world and we employ a highly qualified Chief Information Officer to ensure that we use both effectively and safely.  To my knowledge we are  unique in holding certification ISO/IEC 27001 Information Security Management Systems, something that has provided our clients with valuable data security against the modern world’s many cyber threats.  We are also the sole law firm in Cyprus to hold ISO 9001:2015 for quality management systems in an organisation.  In addition to this, we are the only firm of any description, to have received Cyprus’ Gold HR award in consecutive years for ‘Excellence in Performance Management Strategy’.  Our biggest assets are our staff and our clients and we are committed to investing in both. 

All of this places us at least one step firmly ahead of our competitors.  It is a strategy which has paid enormous dividends during the Covid Pandemic.  None of our clients has experienced any disruption in our service to them even when nearly all staff were working remotely.  Indeed, our staff worked hard to produce innovative solutions to allow deals to be closed and disputes resolved despite widescale closure of courts and governmental offices.  Our competitors were unable to match this performance and we gained new clients as a result.  When staff were permitted to return to the office they were secure in the knowledge that systems were in place to ensure their safety and, that they could seek and receive support when needed.   

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

Much, of course, depends upon the successful suppression of Covid-19 but on the assumption that the various vaccine roll outs are effective I think the following are the areas where our firm will be most active: 

Corporate and Commercial.  Cyprus is an ideal headquartering destination for many firms and some significant international firms are now recognising this and choosing to relocate.  For firms which were previously using the UK as an entry to Europe Cyprus offers a viable alternative with a familiar common law system, low costs, good geographic location and an educated workforce.  There are also specific schemes in place to attract start ups and existing companies in the film and technology industries. 

Insolvency and M&A.  It is inevitable that the economic consequences of the pandemic will see some businesses struggle to survive.  This is likely to result in insolvencies, survival mergers and, opportunistic acquisitions. 

Shipping and maritime.  The EU’s ten year renewal of Cyprus’ tonnage tax scheme was a definite boost to this sector.  The size of the Cyprus registered fleet continues to grow and with it a strong support services sector.  The work undertaken by the previous Deputy Minister has put this sector of the economy on a very firm footing. 

Construction and real estate.  The government’s stated aim of accelerating significant infrastructure development projects, such as Larnaca Marina and Port,  in order to help rebuild the post pandemic economy should mean that this sector becomes quite vibrant. 

Hydro-carbon and renewable energy.  Projects in both still offer a variety of investment opportunities – particularly if one takes into account the EU’s ‘Green Deal’ agenda.  

Finance and regulation.   Cyprus has developed a highly skilled financial services professional sector based in a relatively low- cost economy  which already makes it attractive to many finance companies  It should also now seek to promote its introduction of RAIFs which are a time efficient and affordable way for establishing AIFs in Cyprus.  

Cybersecurity and Data Privacy.  The rapid move to online working provoked by the pandemic has also served to raise awareness of the need to protect commercial and personal data from accidental loss and from malicious attack. 

Tax planning.  Activity in all the above sectors at some stage inevitably involves tax planning and tax structuring both at corporate and individual level. 

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

There are several that spring to mind. At a basic level  our investment in our Brussels office means that our clients can rely on us to communicate directly with the various EU governmental organisations and EU courts on their behalf rather than via an intermediary.  This greatly enhances efficiency for and cost-effectiveness for all parties. 

Our established Cybersecurity and Data Privacy team has been an invaluable resource for clients suddenly grappling with the realities of remote working and selling online. 

We are also constantly seeking to leverage technology to help improve the quality, accuracy and cost of providing advice and value added to clients. During 2019 we established an innovation and technology development team.  The team was tasked with developing ‘NEOLAW.AI’, a technological tool designed to provide ‘value added’ services to clients and thereby propel the delivery of legal services in Cyprus well into the 21st century.  The launch of the ’NEOLAW.AI’ Alternative Services Legal Provider offering is scheduled to take place in the coming months.   

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

Undoubtedly, and the impact of the Covid 19 pandemic and associated ‘lockdowns’ have certainly accelerated the process.  Clients and staff have increased for example, their use of services such as Microsoft Teams and electronic signatures.  This saves valuable time on travelling etc. for both parties.  Whilst I envisage that clients and staff will always sometimes want to meet in person, for many issues technology provides an efficient and cost effective alternative.  As stated above, the launch of NEOLAW.AI is imminent and this will provide an alternative method for dealing with basic queries and needs that our clients may have.   

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

We always aim to direct our knowledge and experience in support of our clients’ business strategies.  One of our retained  clients was recently considering a merger with a competitor which owned several Cyprus based subsidiaries.  We were able to advise on all due diligence aspects of the Cyprus elements including those relating to employment, regulatory and taxation matters. 

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

Our clients are certainly looking for these things.  They come to a large departmentalised international firm such as our own because they want to be confident that, even when they are faced with a situation that is ‘new’ for them, their lawyer will have the experience and expertise to guide them.  They want a legal firm which can see the ‘big picture’.  They also want staff continuity which is something that our lawyer training programme and ongoing staff development strategy supports.  Some of our current partners began their career with us as trainees.  In three years time our aim is to have enlarged our client list whilst continuing to provide them with the high quality service they rightly expect from us. 

Elias Neocleous & Co LLC advises CPI Property Group on Globalwealth share acquisition

Elias Neocleous & Co LLC is proud to have advised CPI Property Group (“CPI”) on the Cypriot aspects of its recent acquisition of shares in Globalworth Real Estate Investments Limited (“GREIL”). CPI is a company listed on the Frankfurt Stock Exchange with a property portfolio of circa EUR 8 billion. The shares it successfully acquired had previously belonged to Mr. Ioannis Papalekas who held them via a Cyprus SPV. Mr. Papalekas is the founder of GREIL and was responsible for growing it into a successful business. GREIL is currently listed on the AIM of the London Stock Exchange with a market capitalization in excess of EURO 2 billion. Whilst, as a result of this transactions Mr Papelakis is now no longer a shareholder in GREIL, he remains as CEO and will continue to be actively involved in the business.

Tender for Liquefied Natural Gas terminal at Vasilikos Bay

As Cyprus moves forward with its plans to build a Liquefied Natural Gas terminal on the Island, Elias Neocleous & Co LLC is proud to have advised and assisted Abamba Limited, a consortium of global engineering firms EPCM Consultants SA (Pty) Ltd, Global Maritime Consultancy Limited and iX Engineers (Pty) Ltd, with the submission of their tender application to the Natural Gas Infrastructure Company (ETYFA) for the Engineer Supervision Contract for the project to develop the infrastructure to import Liquefied Natural Gas (LNG) into the Republic of Cyprus. 

ELIAS NEOCLEOUS & CO LLC ADVISES GREENMONT AIFLNP LTD ON ITS INVESTMENT IN NACE ENERGIA IN SPAIN

ELIAS NEOCLEOUS & CO LLC ADVISES GREENMONT AIFLNP LTD ON ITS INVESTMENT IN NACE ENERGIA IN SPAINDuring Q2 of 2020, our Financial Services and Regulation, Corporate and Commercial as well as Energy teams assisted our valued client, Greenmont AIFLNP Ltd (“Greenmont”), a Cyprus-authorized alternative investment fund on the Cyprus law aspects of its private equity investment in Nace Energía (“NACE”).

ENC assists Mintra in acquisition of Safebridge

Elias Neocleous & Co LLC is pleased to have assisted Lupp + Partner PartG mbB in advising Norwegian based Mintra Holding AS on its strategic expansion and strengthening of its training capabilities through the cross-border acquisition of German based maritime digital learning and crew competence management specialists Safebridge GmbH and its Cyprus subsidiary Safebridge Limited.

Elias Neocleous & Co. LLC faces Covid down with strong Financial Performance in 2020

Having completed the review of the firm’s financial performance for 2020 the management of Elias Neocleous & Co LLC would like to thank all partners and staff for the hard work and dedication that they have shown throughout what has been a very difficult year. 

Elias Neocleous & Co LLC advises on US$450 Million High Yield Bond Offering by Energean PLC

Elias Neocleous & Co LLC in collaboration with Latham & Watkins represented J.P. Morgan, ING Bank, BNP Paribas, Credit Suisse, Deutsche Bank AG, Goldman Sachs International, Morgan Stanley, Natixis and Poalim IBI (the “Initial Purchasers”) in connection with a US$450 million offering of Rule 144A/Reg S high yield senior secured notes issuance by Energean PLC, an international independent gas-focused oil & gas company focused on the exploration, development and production of gas and oil assets in the Mediterranean and listed on the London Stock Exchange as well as the Tel Aviv Stock Exchange. Proceeds will be used to repay and cancel commitments under Egyptian and Greek reserve-based lending facilities, including Greek subordinated debt, and for general corporate purposes. The senior secured notes are expected to be listed on The International Stock Exchange.