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Stay informed of the latest news and developments from our firm. Discover what is shaping our practice and people.
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...
26 June 2020, EU backs launch of three Covid 19 support measures in Cyprus.
Minister of Finance, Mr. Constantinos Petrides helped get the weekend off to an auspicious start by announcing that three measures, designed to counteract some of the negative impacts of Covid 19, had gained EU approval and would be launched with immediate effect. The specific measures approved wer...
State aid: Commission expands Temporary Framework to further support micro, small and start-up companies and incentivise private investments
The European Commission has recently adopted a third amendment to extend the scope of the State aid Temporary Framework adopted on 19 March 2020 to support the economy in the context of the coronavirus outbreak. The main purpose of the Temporary Framework is to provide targeted support to otherwise...
Introduction of new European Union Agricultural Policy delayed for two years.
The EU Council has announced that the introduction of the new Common Agricultural Policy (CAP 2) for Europe will be delayed until the end of 2022. The announcement was made after the Council reached an understanding with the European Parliament (‘Parliament’) on 30 June 2020. It has been agreed t...