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Stay informed of the latest news and developments from our firm. Discover what is shaping our practice and people.
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 […]
ELIAS NEOCLEOUS & CO LLC LENDS SUPPORT FOR VICTIMS OF LEBANESE EXPLOSION
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, […]
Congratulations to our new lawyers!
It is with immense pleasure and pride that we announce the successful performance of the firm’s candidates in the 2020 Cyprus Bar Examinations. We are fortunate, as a firm, to attract those whom we believe to be the brightest and best to our lawyer trainee scheme. Once again, despite experiencing training disruptions due to the […]
DAC6: Cyprus adopts EU Council’s deferral amendment
On 24 June 2020, the EU Council adopted an amendment to the Directive on Administrative Cooperation (DAC6), inserting Articles 27a and 27b. The effect of the amendment was to allow EU Member States an option to defer, by up to six months, the time limits for the filing and exchange of the reportable arrangements. On […]
An interview of our managing partner, Mr. Elias Neocleous, was recently published in the Insider magazine.
In the interview Mr. Neocleous expressed his satisfaction with the efficient manner in which our firm had operated during the pandemic and also, his optimism for the outlook of the Cyprus economy. He stressed that the crisis has created opportunities which our country must take advantage of. Now is the ideal time for Cyprus to […]
Immigration: ECtHR decision confirming the right of denial of entry to foreigners
Our associate, Ms. Ioanna Christodoulou, recently published an article in Fileleftheros Newspaper, addressing a recent decision of the European Court of Human Rights, in relation to immigration issues. In her article, Ioanna clarifies the circumstances under which a foreigner has the right to be recognized as a refugee and enjoy the relevant international protection. According […]
EBA publishes overview of public guarantee schemes issued in response to the Covid-19 pandemic
The European Banking Authority (EBA) recently published a list of the public guarantee schemes issued in response to the COVID-19 pandemic. This publication, which complements the information included in the EBA Report on the implementation of selected COVID-19 policies, aims at providing transparency to the public on the existence of public guarantees. It also responds […]
Tax Department’s new Tax Gateway Service is now live!
Companies and individuals who are required to submit their 2020 tax estimate and pay the associated first instalment of temporary tax by 31 July 2020 now have the option of doing so either via JCC Smart, or, via the Tax Department’s new Tax Gateway service. Taxpayers may now access the Tax Gateway service by using […]
Chambers HNW Guide awards highest ranking to both Elias Neocleous & Co LLC and Elias Neocleous.
The 2020 edition of Chambers High Net Worth Guide (‘the Guide’) was released 9 July 2020. On viewing it, we are delighted to note that it ranked our firm and, on an individual level for the third successive year, our Managing Partner, in its top tier of professional advisers in Cyprus. The fi...
Cyprus Government seeks to raise EURO 750m as Moody raises country outlook from ‘stable’ to ‘positive.
On 6 July 2020, the Cyprus government announced that it was seeking to raise up to EURO 750m from the international markets. The move is intended to take advantage of current low borrowing costs. It follows a successful double bond issue in April 2020 which raised EURO 1.25bn and was massively ov...
Council of European Union (‘EU Council’) adopts deferral amendment to DAC6.
On 25 May 2018, the EU Council adopted the Directive on Administrative Cooperation (DAC6), which introduced an obligation to disclose information on cross-border arrangements that meet certain criteria for EU-linked intermediaries and, under certain circumstances, information on the taxpayers. On 2...