News

Amendment to the VAT Law

The Cyprus parliament has passed an amendment to the VAT law imposing 19 per cent VAT on land transactions for business purposes, bringing it into line with the common EU system of VAT. When Cyprus joined the EU, it was granted a temporary derogation under article 383 of the EU VAT Directive (Council Directive 2006/112/EC

Obligations of Cyprus Investment Firms regarding warnings on complex financial instruments marketed to retail investors resident in Spain

The Cyprus Securities and Exchange Commission has issued a circular, number C248 dated 3 November 2017, to Cyprus Investment Firms it regulates, setting out the requirements of the Spanish regulatory authority, the Comisión Nacional del Mercado de Valores, regarding warnings on complex financial instruments marketed to retail investors resident in Spain. They apply to contracts

Tonnage tax: countries whose ships are subject to surcharge

In order to promote its objective of improving the quality of Cyprus shipping, the Merchant Shipping (Fees and Taxing Provisions) Law of 2010 imposes a surcharge on the tonnage tax payable regarding qualifying vessels registered in countries which appear on the ‘grey list’ or ‘black list’ of the Paris Memorandum of Understanding (MOU). Article 17(2)

Automatic matching of VAT payments

The Cyprus Tax Department has announced that, following the latest improvements of the TAXISnet system for electronic submission of VAT returns, there is no longer any need for taxpayers to input details of VAT payments or to submit a copy of the payment receipt to the Tax Department. Payments of VAT made through Internet banking

ISO 9001:2015 recertification

We are delighted to announce that Elias Neocleous & Co LLC has successfully completed the re-certification process under ISO 9001:2015, the latest update of the world’s leading quality management standard. The revised standard helps businesses and organizations to be more efficient and improve customer satisfaction, with an increased emphasis on leadership, risk management, objectives measurement

TESTIMONIALS

Great work with all stakeholders including the government relations both in Cyprus and EU
IFLR 1000 Client Feedback 2019
I recently completed the sale of my house in Cyprus with Elias Neocleous & Co LLC and I just wanted to tell you how impressed I was with your Property lawyer who handled the matter. Her professional, calm and measured approach was amazing and really reassured us when things were not that straight forward. As a solicitor of some 40 + years in the private sector I must say that I rarely came across a young lawyer with such a combination of professional and personal qualities. This lawyer is a real asset to your firm!
Property Client
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
Deal makers, professionals and service oriented.
IFLR 1000 Client Feedback 2019

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