Tax Department announces probable extension to deadline for submitting 2019 Tax Return TF1.

On 25 August 2020, the Tax Department issued an announcement that, due to technical reasons, it has not yet been able to make the following 2019 Income Tax Returns available for submission via TAXISnet: Employees and individuals (TF1_individual), Self employed individuals with turnover below EURO 70,000 (TF1_self employed). Ordinarily the returns are available for submission […]

Government and EU announcements on August 24th bring some holiday cheer.

Cypriots who were hoping to gain some respite from this summer’s unusually high temperatures once 15th August had passed have been disappointed this week.  However, consumers, workers, employers, business people and even the Cyprus government all had some reason to feel more cheerful on 24th August! The first drop of good news was a confirmation […]

August 2020, Elias Neocleous & Co LLC – ‘A law firm to watch’

We are pleased to announce that, for the second consecutive year, India Business Law Journal (IBLJ) has awarded our firm the accolade of ‘Law firm to watch’ for our India related work in 2020. Founded in 2007, this is the 14th year that the IBLJ has conducted an independent survey to determine the top foreign […]

Elias Neocleous & Co LLC Advices Greenmont Aiflnp LTD on its Private Equity Investment in Nace Energia in Spain.

During 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”). The deal closed in July 2020 with Greenmont acquiring a shareholding […]


We are deeply saddened by the horrific news of the devastation, loss of life, and displacement of so many, following the tragic explosion in Beirut on 4 August 2020. As one of our closest regional neighbours the beautiful country of Lebanon, with its wonderful and talented people is close to our hearts, and the images […]

The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has issued a Public Statement recommending coordination of supervisory action with regards to issuers’ accounting for COVID-19-related rent concessions

ESMA has recently issued a Public Statement to promote coordinated action by National Competent Authorities (NCAs) in the context of the COVID-19 pandemic in relation to issuers’ obligations to publish periodic information that is drawn up in accordance with the relevant reporting framework.   In view of the difficulties of IFRS 16, ESMA expects that, […]

Our legal consultant Michael Davies recently published an article in the Cyprus Mail

Mr. Davies expresses the opinion that there is a major global attack on the world’s most powerful hi-tech giants, due to concerns for anti-competitive behavior. The author considers the relevant actions of the US Congress as merely a politically motivated gesture, while in contrast, the EU and Cyprus have developed laws and infrastructures that strongly […]