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Our Partner Nicolas Tsardellis and associate Aggelos Antonelos, have recently published an article in the Fileleftheros newspaper, on the issue of the corporate directors liability in cases of VAT debts.

The Eurogroup has endorsed the decision by the European Stability Mechanism to release the next tranche of financial assistance to Cyprus.

"H Foni tis Lemesou", a local news magazine, recently published an article written by Elena Michail, partner and advocate at our Nicosia office, examining the Law on the establishment of the Financial Ombudsman of Cyprus.

On 1 March, the European Banking Authority (the ‘EBA') published its final revised Guidelines on Money Laundering (ML) and Terrorist Financing (TF) risk factors.

Konstantinos Michail, Senior Associate at Elias Neocleous & Co LLC, highlights the firm's leading role in supporting investment funds, providing comprehensive legal guidance throughout their lifecycle—from establishment and licensing to compliance, governance, and risk management.

In a recent article published in Gold Magazine, Elena Christodoulou, Senior Associate at Elias Neocleous & Co LLC, explores Cyprus's evolving appeal as a premier destination for international business and talent relocation.

The Central Bank of Cyprus has announced that in accordance with the provisions of the Prevention and Suppression of Money Laundering and Terrorist Financing Law of 2007-2013 it intends to publish on its web site details of administrative fines it imposes on credit, payment and electronic money institutions for failure to comply with the provisions of the Law, any directives issued under it by the CBC, or Regulation 1781/2006 of the European Parliament and the Council.

The Taxation Department (the ‘Department') has recently informed the Cyprus International Businesses Association that it expects its new electronic taxation service to be operational within days.

The Ministerial Notification also appoints the Central Bank of Cyprus as the competent authority for the authorisation and supervision of the banking-type ancillary services listed in Section C of the Regulation.

Law 169(I) of 2017 and Law 170 (1) of 2017, which took effect on 1 December 2017, amend the Business of Credit Institutions Laws of 1997 to 2017 ...

On 24 May the Central Bank of Cyprus released its latest statistics on Cyprus-based investment funds, produced on the basis of the revised European System of Accounts 2010, giving information as at 31 March 2018.

On the 7th of January 2019 the UK Financial Regulator – The Financial Conduct Authority (FCA) opened its notification window for the Temporary Permissions Regime (TPR) ...

In the immediate aftermath of the banking crisis of March 2013 the Cyprus government imposed temporary restrictions on currency transfers in order to prevent a mass withdrawal of deposits...

Financial institutions that have securities listed on a regulated market are required to disclose all relevant information in relation to the European Central Bank's Comprehensive Assessment of the European banking sector.

Finally, after 12 years since 2011, the €350 annual levy fee is being abolished on all Cypriot companies. The decision was made on February 21, 2024.

In a world of increased globalisation, regulation continues to be a key driver of the strategic agenda for financial services firms.

In a world of increased globalisation, regulation continues to be a key driver of the strategic agenda for financial services firms.

According to Reuters, the leading international news agency, a draft report prepared following the visit to Cyprus by inspectors from the European Commission, the European Central Bank and the International Monetary Fund - together known as the troika - draws positive a conclusion on Cyprus's progress in strengthening public finances. According to the draft report, Reuters said, "Staff concluded that Cyprus's economic adjustment program is on track."