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Stay informed of the latest news and developments from our firm. Discover what is shaping our practice and people.
Chrysanthos Christoforou named as “dispute resolution star” in inaugural Benchmark Litigation rankings
Chrysanthos Christoforou, head of our firm’s dispute resolution department, has been selected as a national “dispute resolution star” for Cyprus in Benchmark Litigation Europe 2019 – The guide to the region’s leading dispute resolution and litigation firms. Now in its eleventh year of publication, Benchmark originated in the USA and has expanded its geographical coverage […]
Automatic extension of the due date for submission of returns and payments to the Tax Department
On 5 September 2018 the Tax Department issued an announcement informing taxpayers that in the event that the due date for filing a tax return with the department or paying a tax or other liability falls on a Saturday, Sunday, or bank holiday, then the deadline for submission or payment is extended until the next […]
Concert and seminar in Kiev
In September the Embassy of Cyprus in Ukraine is organising a series of events around the fifty-eighth anniversary of Cyprus’s independence under the title of “Days of Cyprus in Ukraine”. One of the principal events is a concert of traditional and modern Cypriot music performed by the National Symphony Orchestra of Ukraine on 5 September […]
Exemptions from the requirement to publish a prospectus under the EU Prospectus Regulation
The Cyprus Securities and Exchange Commission (‘CySEC’) has issued a reminder to supervised entities and other stakeholders that article 1(3) of the new EU Prospectus Regulation, which took effect on 21 July 2018, exempts offers of securities to the public with a total consideration in the Union of less than EUR 1 million over a […]
Disclosure of information on packaged retail and insurance-based investment products
The Cyprus Securities and Exchange Commission (‘CySEC’) has issued a notification to entities it regulates regarding Regulation (EU) No 1286/2014 on key information documents for packaged retail and insurance-based investment products (PRIIPs). The Regulation entered into force on 1 January 2018 and is directly applicable throughout the EU. The Regulation defines a PRIIP as a […]
Reduction of non-performing loans in the Cyprus banking sector
On 9 August the Central Bank of Cyprus (CBC) published its latest analysis of data on non-performing loans in the Cyprus banking sector, covering the period to 30 April 2018, showing aggregate non-performing facilities (NPFs) and related indicators for the domestic operations of credit institutions operating in Cyprus. Overseas operations are excluded. During the […]
Amendments to the laws relating to Alternative Investment Funds
Cyprus’s new law on alternative investment funds, Law 124(I)/2018 has now entered into effect following its publication in the official gazette. The new law repeals and replaces Law 131(I)/2014. It introduces a new form of alternative investment fund, known as the registered AIF, or RAIF, with the aim of reducing the time and cost involved […]
India Business Law Journal names Elias Neocleous & Co LLC as a top international law firm for India work
Elias Neocleous & Co LLC has been singled out by India Business Law Journal as one of the top international law firms for India work in its latest annual survey, published with the July edition of the magazine. India Business Law Journal is a market-leading monthly magazine, read by in-house counsel and private practice lawyers […]
Implementation of tax exemptions on loan restructuring
Following the extension of tax relief on disposal of immovable property for the purposes of restructuring non-performing loans introduced by Laws 96(I), 98(I), 99(I) and 100(I) of 2018, the Cyprus Tax Department has announced that its form 415 (Disposal of Property due to Loan Restructuring) has been revised and a new form 415B (Immovable Property […]
Elias Neocleous & Co LLC shortlisted for prestigious Citywealth Mediterranean Law Firm of the Year award
We are delighted to announce that we have been shortlisted for the Citywealth Mediterranean Law Firm of the Year award. Now in their eighth year, the Citywealth International Financial Centre Awards were established to highlight the excellence of advisors and managers in the private wealth sector in the major international financial centres, and they are […]
The Cyprus Securities and Exchange Commission’s new Innovation Hub
The Cyprus Securities and Exchange Commission (“CySEC”) has announced that it is to establish an Innovation Hub, designed to address and explore the rise of FinTech and RegTech developments. The purpose of the Innovation Hub is to foster a better, more effective relationship with entities operating in these rapidly-evolving sectors and improve the way they […]
Elias Neocleous & Co LLC achieves top ranking for services for High Net Worth Individuals
The latest edition of the Chambers High Net Worth guide, which focuses on the international private wealth market and aims to provide family offices and professional advisers to wealthy individuals with objective guidance, was published on 19 July 2018. The guide ranks Elias Neocleous & Co LLC in the top tier of lawyers, confirming its […]