Monthly Archives: March 2019

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

TESTIMONIALS

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.
IFLR 1000 Client Feedback 2019
Very  responsive and provided excellent guidance on issues of Cyprus law relevant in the transaction on which they represented us.
IFLR 1000 Client Feedback 2019
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.
IFLR 1000 Client Feedback 2019
Deal makers, professionals and service oriented.
IFLR 1000 Client Feedback 2019
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
IFLR 1000 Client Feedback 2019

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