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Stay informed of the latest news and developments from our firm. Discover what is shaping our practice and people.
EBA published final draft technical standards specifying the methods of prudential consolidation
The European Banking Authority (EBA) recently published its final draft Regulatory Technical Standards (RTS) specifying the conditions according to which consolidation shall be carried out in line with the Capital Requirements Regulation (CRR). In particular, this initiative has been undertaken according to Article 18(9) of Regulation (EU) No 575/2013 (CRR), which mandates the EBA to […]
Elias Neocleous & Co. LLC faces Covid down with strong Financial Performance in 2020
Having completed the review of the firm’s financial performance for 2020 the management of Elias Neocleous & Co LLC would like to thank all partners and staff for the hard work and dedication that they have shown throughout what has been a very difficult year. The firm is extremely pleased to announce, that despite the […]
EU Taxonomy: tool for dynamic climate transition, risk and opportunities for business
Undoubtedly, in the past few years there has been a great deal of interest in the concept of ‘sustainable finance’ and the belief that it should be fundamental to the way the economy works. However, the unimaginable hardship that COVID-19 pandemic (‘the pandemic’) has created pressure on countries, governments, and each one of us, to […]
ESMA publishes guidelines on periodic information for trade repositories
The European Securities and Markets Authority, the EU’s securities markets regulator, has published its Final report and Guidelines on the reporting of periodic information and material changes by Trade Repositories (TRs) supervised under EMIR (Regulation 648/2012) and SFTR (Regulation 2015/2365). The aim of the Guidelines is to increase the transparency of TRs supervised by ESMA. […]
Introduction of new penalty regime for late filing of Annual Return delayed
Parliament has voted to defer the date from which new penalty rates will be applied to companies that fail to file their Annual Return documentation (HE32) within the prescribed time frame. The latest amendment to article 26(b) of Companies (Amending) (No.4) Law of 2020 was approved 7 April 2021. The effect of the amendment is […]
Cyprus: Keeping Up with the Cyprus Private Client Sector
Elias Neocleous & Co LLC. is pleased to announce that it is organizing a webinar on matters of interest to the Private Client Sector in Cyprus. Elias Neocleous, Managing Partner, Elina Kollatou and Elena Christodoulou, associates at Elias Neocleous & Co LLC, together with Spyros Ioannou, Tax Partner (Head) of Primus Audit & Tax Limited, […]
Clarity amidst confusion! Annulment of the decision of the Ministry of Transport regarding the Concession Contract for the provision of regular intercity public passenger transport services utilising buses.
On 16th February 2021, the Administrative Court annulled the decision of the Ministry of Transport (hereinafter referred to as “the Contracting Authority“) by which the “Concession Contract F: for the provision of Intercity Public passenger transport Services with the use of buses connecting cities in Cyprus”, was awarded to the company “Υπεραστικά Λεωφορεία Κύπρου (Υ.ΛΕ.ΚΥ) […]
Interview of our Managing Partner Elias Neocleous in the Lawyer Monthly magazine
An interview of our Managing Partner Elias Neocleous was recently published in the Lawyer Monthly magazine. In his interview Mr. Neocleous mentioned that Cyprus, often solely known as a popular tourist destination, is in fact a haven for investors and businesses alike. Highlighting the EU connection and appealing tax incentives, Mr. Neocleous debunked the common […]
International Webinar 20 April 2021: Cyprus and the United Kingdom – The promising lands?
Elias Neocleous & Co LLC. is pleased to announce its sponsorship of the above event which is being hosted and coordinated by the Great Britain-Cyprus Business Association. In the wake of Brexit, the webinar aims to highlight the business links and opportunities that remain, and have arisen, following the exit of the UK from the […]
Partner Costas Stamatiou was a speaker at the 15th Fraud, Asset Tracing & Recovery Conference
Our partner Costas Stamatiou was a speaker at the 15th Fraud, Asset Tracing & Recovery Conference – Geneva organized by C5 between the 23rd and 25th of March 2021. Mr. Stamatiou spoke on the topic of Venue Selection, Jurisdictional Challenges and the Recognition of Interim Freezing Orders Post-Brexit. For more information please speak with Costas […]
GDPR and Brexit: How Data Transfers will be affected.
The European Commission has issued a statement which provides important information to companies and individuals who continue to transfer data to the UK from the EU / EEA following the withdrawal of the UK from the European Union on 31st December 2020. As of 1 January 2021, transfers of personal data to the United Kingdom […]
Revision of Criteria for Investor’s Immigration Permit for third country nationals
Under the provisions of Regulation 6(2) of the Aliens and Immigration Regulations, a third country national can apply for an Investor’s Immigration Permit, also known as a ‘fast-track’ Permanent Residency Permit, provided that certain investment criteria are met. On 24 March 2021, the Ministry of Interior announced new revisions of the investment criteria taking […]