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News & Events
Stay informed of the latest news and developments from our firm. Discover what is shaping our practice and people.
Cyprus: Alternative Investment Funds
We are delighted to inform you of the establishment of our specialist Funds Advisory team. Our Funds Advisory team is headed by Elias Neocleous and utilizes to our clients’ benefit the combined expertise of our professionals in the field of Alternative Investment Funds. The team is part of our Financial Services Support and Advice practice […]
Ratification of the Kiev Protocol on Strategic Environmental Assessment under the Espoo Convention on Environmental Impact Assessment
The Espoo Environmental Impact Assessment Convention sets out the obligations of parties to assess the environmental impact of certain activities at an early stage of planning, and to notify and consult each other on all major projects under consideration that are likely to have a significant adverse environmental impact across boundaries. The Convention was adopted […]
Ratification of the Paris Agreement on climate change
Cyprus formally ratified the Paris Agreement on climate change in December 2016, by means of the Ratification Law of the Paris Agreement, Law 30(III)/2016, which was published in the government gazette on 23 December 2016. The English text of the Paris Agreement is set out in Part 1 of the Annex to the Law, with […]
Extension of time allowed for submission of VIES summary table for March 2017
The Cyprus tax department has announced that the deadline for electronic submission of VIES summary tables for the month of March 2017 has been extended until Tuesday 18 April 2017 in view of the Easter holidays. Submission of the summary table after 18 April will be considered late, making the taxpayer liable to a […]
Cyprus Securities and Exchange Commission advisory notice regarding XECOIN or cryptocoin
The Cyprus Securities and Exchange Commission (“CySEC”) has posted a notice on its website regarding the XECOIN or cryptocoin, which it understands to be available in Cyprus. According to the notice, XECOIN or cryptocoin is not a financial instrument, and therefore does not fall within the scope of the Investment Services and Activities and Regulated […]
Elias Neocleous & Co LLC on Dataguidance
DataGuidance is the essential privacy intelligence platform, created for and used by privacy professionals worldwide, supported by more than 250 leading privacy experts and in-house Privacy Analysts worldwide. Dataguidance users have access to comprehensive, consistent and up-to-date information on core topics relating to data protection and privacy law in a number of jurisdictions. Elias Neocleous […]
CySEC circular regarding anti-money laundering measures
The Cyprus Securities and Exchange Commission has issued a circular (C196 dated 31 March 2017) to entities it regulates reminding them of their obligations under article 68C of the Prevention and Suppression of Money Laundering and Terrorist Financing Law of 2007, and emphasising that ignorance of the law is no defence. Article 68C of the […]
Elias Neocleous spoke at the seventh Academy & Finance “Russian Private Clients” conference
Elias Neocleous, managing partner of our firm, was among the distinguished experts presenting the latest developments in tax, succession planning and asset protection strategies at the seventh annual conference for Russian private clients and their advisers organised by Academy & Finance, a leading Swiss conference organiser, which took place on 29 and 30 March 2017 […]
Reduced withholding tax under the Cyprus-Russia double tax agreement
Since Cyprus-resident companies are used to hold shares in many Russia-resident companies, claims for the reduced rate of withholding tax on dividends have been the most common area for dispute under the Cyprus-Russia double tax agreement. The agreement provides that a reduced rate of withholding tax applies to dividends paid by a company resident in […]
New schedule of fees payable under the Anti-Piracy Law
The Cyprus Department of Merchant Shipping has issued an updated schedule of fees payable under article 86 of the Protection of Cyprus Ships Against Acts of Piracy and other Unlawful Acts Law of 2012 (Law 77(I)/2012). The Protection of Cyprus Ships Against Acts of Piracy (Determination of Fees) Notification of 2017, P.I. 87/2017 was published […]
Amendment of the Aliens and Immigration Law to transpose the EU intra-corporate transfer directive
The Law on Aliens and Immigration (Amendment) (No. 2) Law of 2017 (Law 9(I)/2017) amends the Aliens and Immigration Law (Cap 105) to harmonise its provisions with Directive 2014/66/EU of the European Parliament and of the Council of 15 May 2014 on the conditions of entry and residence of third-country nationals in the framework of […]
Payment of annual fees by Cyprus Investment Firms
The Cyprus Securities and Exchange Commission has announced that the form required for Cyprus Investment Firms to calculate the annual fee payable to CySEC under the Investment Services Law (Law 144(I)/2007) in respect of the calendar year 2016 is now available on the CySEC website. Annual fees must be paid no later than four months […]