Monthly Archives: July 2017

New tax residence provisions for individuals

Law 119(I) of 2017, which amends the provisions of the Income Tax Law regarding residence of individuals, has now been published in the official gazette. Prior to the enactment of the new law, individuals are resident in Cyprus for the purposes of income tax if they are physically present for at least 183 days in

Ratification of the Council of Europe Convention on preventing and combating violence against women and domestic violence

Cyprus signed the Council of Europe Convention on preventing and combating violence against women and domestic violence on 16 June 2015. The legislative process of incorporating the convention into domestic law has now been completed with the publication in the official gazette on 28 July 2017 of Law 14(III) of 2017, which ratifies the convention.

Reporting of advance cross border rulings

In order to ensure compliance with Directive (EU) 2015/2376 of 8 December 2015 amending Directive 2011/16 / EU on compulsory automatic exchange of information in the field of taxation and in particular in advance cross border rulings, the Cyprus Tax Department has begun an initiative to gather information regarding cross-border decisions issued, modified or renewed

CySEC guidance on interim management and  financial reports

The Cyprus Securities and Exchange Commission (CySEC) has issued a circular reminding issuers with securities admitted to trading on a regulated market of the requirements of the Transparency Requirements (Transferable Securities) Negotiation in a Regulated Market) Law of 2007 regarding the content of interim management reports. CySEC’s examination of interim management reports for the first

The implementation of MIFID II in Cyprus

On 7 July 2017 Law 87(I)/2017 was published in the Official Gazette of Cyprus, transposing the revised European Union Markets in Financial Instruments Directive (MiFID II) into Cyprus law. The new law, which will apply in Cyprus from 3 January 2018, will introduce significant changes to the Investment Services and Activities and Regulated Markets Law


Great work with all stakeholders including the government relations both in Cyprus and EU
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We have been using Neocleous for more than 10 years. We are very satisfied with their performance. They can support all the areas we may need help in. They have lawyers for all the practice areas. They are well educated and very fast on the job.
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We have been assisted by Elias Neocleous in the context of capital markets transaction. Mr Demetris Roti was the partner in charge of the matter. We were very satisfied by the work of Mr Roti and his team as well as their ability to work towards tight deadlines
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Very  responsive and provided excellent guidance on issues of Cyprus law relevant in the transaction on which they represented us.
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To the point, very helpful and complement advice. Was always aiming to get it done in an efficient and timely manner. Delivered results despite some obstacles in between.
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