Elias Neocleous & Co LLC has an established record in providing high quality services to private clients and high net worth individuals. Ensuring that our Private Client Team is fully cognisant of all relevant legal, tax and regulatory changes plays a vital role in ensuring that this quality is maintained. Consequently, Partner, Kyriakos Xenophontos, Senior Associate Elena Christodoulou, and Associate Christina Anastasiou were all in attendance at the recent ‘Wealth and Succession Planning Conference’ held in Limassol. The conference was jointly organised by the Cyprus Chamber of Commerce and Industry and STEP Cyprus. It included a range of topics pertinent to the private client sector.
The recent EU sanctions on Russia and Russian individuals and their implications for the sector were explored in depth. Also of great interest were the regulatory changes associated with the implementation of both DAC6 and ATAD 3 (‘Unshell Directive’) and the possible impact of each, both in general and, on the trust sector in particular. At a more personal level the conference addressed the issue of safeguarding wealth for future generations by considering the relative merits of trusts and wills and possible drawbacks of each. It also considered how the more adverse consequences of marital breakdown can be circumvented and the complications inherent in prenuptial agreements and cross-border divorces.
STEP is the global professional association for practitioners who specialise in family inheritance and succession planning. Kyriakos Xenophontos sits on the current board of STEP Cyprus and Elias Neocleous is a founding member.
Whatever our clients’ objectives are, be they tax compliance, estate planning, philanthropy, or any other goal, our team has the skill set and the experience to allow them to achieve it in a legally compliant manner. For more information please contact our Private Client Team.