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Stay informed of the latest news and developments from our firm. Discover what is shaping our practice and people.
Rule of law as defined by Constitution must be upheld at all times
On 13 March 2020, the government of Cyprus announced that entry into the Republic would not be allowed except for certain categories of people including Cypriot citizens, legal residents, Europeans and other citizens working in the Republic, students, and a small number of people qualifying as spec...
CySEC circular on COVID-19 and respective Business Continuity and Contingency Plans of Regulated Entities.
On the very current topic of CoVID-19, the Cyprus Securities and Exchange Commission (“CySEC”) issued today Circular C358/6.03.2020 (available here) to all Regulated Entities, informing them that CySEC is actively following the developments related to the coronavirus disease 2019 (COVID-19) and the...
COVID-19 – a force majeure event?
Many Governments all over the world have imposed very strict measures (quarantine, travel bans/restrictions, closing of businesses, malls, theatres etc.), in order to protect their countries’ populations as a result of the unexpected COVID-19 outbreak. As it stands, it is difficult to foresee the w...
Cyprus Profile – Growth opportunities in 2020
Managing Partner, Elias Neocleous, was recently asked to join Cyprus business leaders in attempting to predict what 2020 will hold for their business sector and for Cyprus as a whole. To read what he had to say about the future growth prospects both for the legal profession and, for the economy of...
Rent (Control) Law amendment assists landlords faced with defaulting tenants
‘Fileleftheros’ newspaper has recently published an article by Marina Vassiliou, Associate of Elias Neocleous & Co LLC. The article examines the key changes wrought by the Rent (Control)(Amended) Law of 2020 which entered into force on 31 January 2020. She notes that the chief effect of the le...
Chambers and Partners recognise excellence of Employment Law Alliance
We are pleased to announce that, ,for the fifth consecutive year, the Employment Law Alliance (“ELA”) has been recognised as a ‘Band 1’ organization by Chambers and Partners in their 2020 edition of “Employment: The Elite in Global-wide”. Founded by CEO Stephen Hirschfield, the ELA has members cove...
MONEYVAL Report – Plaudits for Central Bank of Cyprus but more work required on tackling terrorist financing.
Background On 12 February 2020 the Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (“MONEYVAL”) published its report on Cyprus (“the Report”). The aim of MONEYVAL is to ensure that its member states have in place effective systems to counter m...
‘Justice delayed is justice denied’
An article with the above title, authored by our Associate Maria Hadjisavva, was recently published by In-cyprus.com. In the article Maria explores an apparent difference in attitude on the part of the Cyprus authorities when addressing crimes, and potential crimes, in which the victim, or potenti...
Exam success for our next generation of tax experts
Elias Neocleous and Co LLC is pleased to announce the examination success of its three candidates in the second stage of the Advanced Diploma in International Taxation (ADIT). The ADIT is regarded as the benchmark for quality in international tax matters and success at this stage brings them all a...
Anticipated law regulating self-catering accommodation rentals in Cyprus was finally enacted
On Friday 17/01/2020, the House of Representatives passed a new law, N. 9(I)/2020 (also “the Law”), regulating the registration and operation of self-catering accommodation, which was subsequently published in the Government’s official Gazette on the 7th of February 2020. The Law is directed at op...
Cyprus: Maritime Cyber Risk Management in Safety Management Systems
On 17 February 2020, the Shipping Deputy Ministry of Cyprus issued Circular 4/2020 in relation to cyber risk following IMO Resolution MSC.428(98) which recognizes the urgent need to raise awareness on cyber risk threats and vulnerabilities to support safe and secure shipping, which is operationally...
Extension of the Cyprus Tonnage Tax System until 31 December 2029
The Shipping Deputy Ministry has issued Circular 1/2020 informing shipowners, charterers and shipmanagers that following the formal assessment of the Cyprus tonnage tax scheme, the European Commission has concluded that the relevant scheme of Cyprus is compatible with the internal market and in lin...