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Elias Neocleous & Co LLC is highly delighted to announce the addition of four outstanding individuals to its award-winning team. We extend a warm welcome to the following:

On 15 February 2019 a notice was published in the Official Gazette regarding amendments to the Judicial Practice Code of 17 March 1988.

The Republic of Cyprus has a national system of justice which is enforced uniformly throughout the government-controlled area of the country.

On 14 November 2018 the Supreme Court of Cyprus issued an innovative judgment relating to Norwich Pharmacal orders, which demonstrates the Cyprus courts' readiness to stay abreast...

A Cyprus District Court has declared a forged power of attorney void and annulled the transfers of 23 high-value properties that were fraudulently transferred using the falsified document.

Cyprus is intent on meeting its obligations regarding information exchange and transparency, and has recently passed a new law (Law 72(I) of 2008) amending the Assessment and Collection of Taxes Law to incorporate the exchange of information provisions of Article 26 of the OECD Model Tax Convention of 2005 in double taxation agreements which have been concluded between Cyprus and other jurisdictions.

In accordance with its agreement with international lenders, Cyprus has made a number of changes to its tax rates.

The provisions of the Treaty will apply from 1st January of the year following ratification.

The European Union (EU) is actively involved in developing proposals to address perceived inappropriate tax avoidance, i.e. Base Erosion and Profit Shifting (BEPS).

In a memorandum dated September 10, 2013, released in October 2013, the office of Associate Chief Counsel of the US Internal Revenue Service announced that a Cyprus-resident holding company qualified for benefits under the US-Cyprus double tax convention ("the US-Cyprus convention") and the reduced tax rate on dividends from qualified foreign corporations, despite not meeting the share ownership requirements stipulated in the convention.

Amendments to the Income Tax Law ("ITL") were approved by the House of Representatives and published in the official gazette on 30 June 2023 as the Income Tax Law 51(I)/2023 (Amending) (No.8)...

In September 2013 the office of Associate Chief Counsel of the US Internal Revenue Service announced that a Cyprus resident holding company qualified for benefits under the US-Cyprus double tax treaty.

In general, just because performance is made harder, this does not equal impossibility.

On 30 September 2020 the Shipping Deputy Ministry issued Circular 20/2020, notifying interested parties of the entry into force of the 2018 amendments to the Code of the Maritime Labour Convention...

An enduring image on TV screens at the outbreak of the covid-19 pandemic was one of cruise ships being refused docking permission at ports around the globe.

Under the Exclusive Economic Zone and the Continental Shelf Laws 2004 and 2014, Cyprus has sovereign rights.

In order to transpose EU Directive 2013/38/EC into national law, the government has amended the Merchant Shipping (Port State Control) Law 2011 and issued a revised Merchant Shipping Notification.

Recent publicity regarding the United Kingdom and German revenue authorities’ purchase of confidential details of Liechtenstein bank accounts has re-focussed attention on tax havens and on how far the authorities may go to prevent their misuse.