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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.
EU foreign investment screening regulation enters into force
The new EU framework for the screening of foreign direct investments has officially entered into force on 10 April 2019, following its adoption by the European Parliament and by the Council on 19 March 2019. It will be highly important in safeguarding Europe’s security and public order in relation to foreign direct investments into the Union. […]
Elias Neocleous & Co LLC – leading the 2019 Legal 500 rankings in Cyprus
We are delighted that the latest Legal 500 rankings for Europe, the Middle East & Africa, released on 10 April, confirm Elias Neocleous & Co LLC as the leading firm in Cyprus with the highest overall rankings. The Legal 500 rankings are the most authoritative guide to lawyers across the widest range of practice areas. […]
Vistra 2020 – The disruption advantage: opportunity in a changing world
Kyriacos Xenophontos, a partner in our firm and head of our affiliated trust company, was one of the three expert panel members invited to give their views on Cyprus’s services, legal and regulatory sector at the Vistra 2020 seminar held in Limassol on 4 April. Vistra is an international leader in the field of trust, fiduciary, […]
Clarification on the registration of pledges by the Registrar of Companies
Pursuant to an announcement dated January 8, 2019 the registrar of companies and official receiver of Cyprus (the “RoC”) has announced that, following an opinion from the Attorney General (the “Opinion”), a number of categories of charges will no longer be accepted for registration, namely pledge of company share certificates, assignments of rights deriving from […]
International Business Structuring Discussion – Cyprus 14th May
Elias Neocleous & Co. LLC is proud to be the sponsor of this upcoming event chaired by the European Branch of IBSA – the INTERNATIONAL BUSINESS STRUCTURING ASSOCIATION. Founded in 2014, IBSA is a diverse global association for entrepreneurs and professional advisors dedicated to sharing expertise, collaboration and networking opportunities. IBSA is a not-for-profit association […]
Capital Markets Union: Creating a stronger and more integrated European financial supervisory architecture
The European System of Financial Supervision (ESFS), which aims to strengthen financial supervision, improve consumer protection and ultimately rebuild trust in the EU financial system, consists of the three main European Supervisory Agencies (ESAs) and the European Systemic Risk Board (ESRB). The ESAs supervise individual sectors and institutions (the “micro-prudential” pillar), whereas the ESRB oversees […]
Extension to the deadline submission of Income Tax Return 2017 for Companies and Self Employed with Accounts
On 27 March 2019 the Cyprus Tax Department issued notification that it has extended the deadline for the filing of 2017 Income tax returns for Companies (TD4A) and Self Employed persons with Accounts (TD 1A Acc) from 31 March 2019 to 30 April 2019. For further information on this matter please contact Constantinos Christofi or your usual […]
The Cyprus Securities and Exchange Commission (“CySEC”) published in the Official Gazette, Directive 124/56-01 on “Fees Payable and annual contributions of the Alternative Investments Funds and their Managers”
The Directive has immediate and retrospective effect (ar. 6 and 8) and abolishes the previous Directive 279/2017. Principally the Directive amends the fees payable to CySEC by Alternative Investment Funds (“AIFs”) and their Managers (“AIF Managers”) including provisions for the timing of those payments. The significant changes being: fees are payable: at the time the […]
The Tax Department of the Republic of Cyprus issued a circular in relation to companies that are dormant or for which communication has been lost (the “Circular”).
The Circular is in response to an issue that has arisen between the Tax Department and the Registrar of Companies and Official Receiver (the “Registrar”) in relation to the Registrar’s obligation to strike off dormant companies or companies for which the appointed local service providers have lost communication. The Registrar, in accordance with the relevant […]
Transparency requirements of EU securitisation regulation to be incorporated into the Eurosystem Collateral Framework
The European Central Bank (ECB) has decided that the loan-level data reporting requirements of the Eurosystem collateral framework are to align with the disclosure requirements and registration process for securitization repositories specified in the Securitisation Regulation (Regulation (EU) No 2017/2402). The ECB decision is aimed at the promotion of efficiency and standardization in the securitization […]
GeSY / G.H.S. contributions for employers and employees
Commencing from 1 March 2019 all employers’ and employees’ in Cyprus will be required to make contributions to the General Healthcare System (G.H.S.), as follows: Period: Employer Contribution: Employee Contribution: 01/03/2019 – 28/02/2020 1,85% 1,70% From 01/03/2020 2,90% 2,65% Employers’ contributions and employees’ deductions are calculated on the gross salary (up to €180,000) and will be […]
Common Law Day conference
The potential impact of Brexit on international commercial litigation and UK law firms, as well as the doctrine of necessity, innovation hubs, and the tax implications of Brexit, were amongst the most important topics discussed during this year’s Common Law Day conference, at Hilton Park in Nicosia. Many thanks to the British High Commission and […]