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Stay informed of the latest news and developments from our firm. Discover what is shaping our practice and people.
European Banking Authority publishes final revised Guidelines on money laundering and terrorist financing risk factors.
On 1 March, the European Banking Authority (the ‘EBA’) published its final revised Guidelines on Money Laundering (ML) and Terrorist Financing (TF) risk factors. The revisions take into account changes to the EU Anti Money Laundering and Counter Terrorism Financing legal framework. New ML and TF risks are also addressed, including the ones identified by […]
Global Sanctions Guide
Elias Neocleous & Co LLC is proud to have provided the Cyprus content for the third edition of “Global Sanctions Guide” (the Guide) by Eversheds Sutherland. The Guide is the result of a comprehensive research project on sanctions frameworks. The project brought together leading experts from around the world who reported on the characteristics and […]
Cyprus residency post Brexit.
An article by Associate, Christiana Georgiou, recently featured in the Cyprus Mail. In it she addresses the post Brexit residency status and rights of UK nationals in possession of MEU1 or MEU3 papers prior to the end of the ‘transition’ period on 31 December 2020. She also clarifies the legal position of those who were […]
Amendment to the Double Tax convention between the Republic of Cyprus and the Federal Republic of Germany
A protocol amending the current double tax convention between the Republic of Cyprus and the Federal Republic of Germany was signed on 19 February 2021 in Nicosia, Cyprus. The protocol relates to the avoidance of double taxation in respect of taxes on income and on capital. The double tax convention with the German Federation is […]
CySEC Issues Q&A on Brexit Related Matters
The Cyprus Securities and Exchange Commission (“CySEC”) announced today the launching of a dedicated section on its website to serve as a Brexit Information Hub. Practically evidencing its commitment to always finding new ways to improve the financial markets, CySEC has prepared a comprehensive set of guidance on Brexit in the form of Questions & […]
Amendments to EU Slot Regulation casts struggling airlines a lifeline.
On 15 February 2021, the EU adopted an amendment to the ‘Slot Regulation’ (the Regulation) tempering the so-called ‘use it or lose it’ rule. Slots are essential for airlines at congested or coordinated airports (those where demand exceeds capacity). Without a slot, airlines cannot operate to or from those airports. The number of slots at […]
EU introduces stronger trade enforcement rules.
On 13 February 2021, the European Commission issued a press release announcing that robust new trade enforcement rules (the New Rules) have been put in place to protect the interests of the EU. The drive to amend the existing Enforcement Regulation ( the Regulation) was a response to the effective sabotage of the operations of […]
Presentation of our HR policies
Our firm recently published a presentation of its HR philosophy in the Insider magazine. Adapting to modern needs, our HR department focuses on maximising the value that individuals themselves can offer. Our firm gives weight to increasing employee engagement in corporate activities, initiatives to encourage diversity, performance management, pay and benefit practices and other strategic initiatives that […]
Covid 19: Tax Department introduces measures to allow for the payment of VAT in installments.
On 9 February 2021, the Department of Taxation issued an announcement in respect of Law 5(1)/2021 concerning the payment of VAT due in respect of the tax periods ending on 31 December 2020 and 31 January 2021. The law permits some categories of VAT registered persons to make payment of any VAT due relating to […]
The European Green Deal: Challenges and Opportunities
On the 1st of February 2021, the Brussels office of Elias Neocleous & Co LLC presented a webinar, accredited by the Cyprus Bar Association, on ‘The European Green Deal’ . Opening the webinar, Mr. Ierotheos Papadopoulos, Head of the European Commission Representation Office in Cyprus, gave a speech, during which, he presented the European […]
Landlords and Tenants be Aware of Recent Case Law
IN THE recent case of Fysentzides vs K & C Snooker & Pool Entertainment, Civil appeal no.30/2019, dated 1/6/2020, the Supreme Court of Cyprus has decided on a legal point related to the jurisdiction of the Rental Control Court Law of 1983 (L. 23/1983). The facts of the case were as follows. The Plaintiff had […]
Has your SME protected its Intellectual Property (IP) rights?
The European Union Intellectual Property Office (EUIPO) and the European Commission are supporting the ‘Ideas Powered for Business SME Fund’ which is aimed at businesses that seek to protect their IP rights, at national, regional, or EU level. The Fund, with a grant scheme of €20 million, wishes to assist European small and medium-sized enterprises […]