The BEST LEGAL conference

The fourth BEST LEGAL conference was held at the Four Seasons Hotel in Limassol on 25 September. The event, which is organized by the Cyprus business magazine SUCCESSFUL BUSINESS, has become the leading legal conference in Cyprus directed at attendees from overseas, and this year’s event attracted more than 200 prominent businesspeople, lawyers and other […]

The Limassol Economic Forum

Elias Neocleous & Co LLC is a principal sponsor of The Limassol Economic Forum, which will take place on Friday, 20 October 2017. Now in its eighth year, the forum is the biggest and most important business gathering in Cyprus, and has become a major platform of debate on political, economic and business issues in […]

Proposal for new investment law

The Cyprus government has announced that a new draft law is being prepared, aimed at facilitating investment into Cyprus by means of radical changes in the current law and practice to reduce red tape, simplify procedures and create an environment that will be truly investor-friendly. The new law will focus on investments which are deemed […]

Extension of tax exemptions for loan restructuring

In December 2015 the Cyprus tax laws were amended to temporarily exempt loan restructurings from tax in order to facilitate and encourage the restructuring of non-performing loans. The amendments affected the Income Tax Law, the Capital Gains Tax Law, the Special Defence Contribution Law, the Stamp Duty Law, the VAT Law, the Collection of Taxes […]

The Actions for Damages for Infringements of Competition Law of 2017

Law 113(I)/2017, the Actions for Damages for Infringements of Competition Law of 2017, which was published in the government gazette on 21 July 2017, transposes Directive 2014/104/EU into Cyprus law. The new law provides for rules to ensure that any physical or legal person or public authority who has suffered damage as a result of […]

Payment of VAT and other tax liabilities by Internet banking

The Cyprus Tax Department has announced that payments of VAT and of instalments under the Process of Adjustment of Tax Arrears Law of 2017 can now be paid via Internet banking. Currently four banks offer Internet payment of tax liabilities, but the Tax Department expects to extend the service to other banks shortly.

Amendments to the Process of Adjustment of Tax Arrears Law of 2017

The Process of Adjustment of Tax Arrears Law of 2017, Law 4(I) of 2017, established a procedure for settling tax arrears by monthly instalments, providing up to 95% waiver of interest and penalties and covering all nationally imposed taxes, including income tax, VAT, SDC tax, capital gains tax, stamp duty and special contribution payable by […]

Vistra 2020 “The Uncertainty Principle”

Kyriacos Xenophontos, a partner in our firm and head of our affiliated trust company, was one of the three expert panel members invited to give their views on Cyprus’s services, legal and regulatory sector at the Vistra 2020 seminar held in Limassol on 28 September. Vistra is an international leader in the field of trust, […]

Reference rates for Notional Interest Deduction for Greece, Italy and Kazakhstan

Article 9(B) of the Income Tax Law of 2002 as amended provides for a notional interest deduction for tax purposes on new equity capital (paid-up share capital and share premium) injected into companies and permanent establishments of foreign companies on or after 1 January 2015 to finance business assets, calculated by applying a reference rate […]

Introducing our new trainee lawyers

Our people are our most important asset, and key to providing the best service and advice to clients. We believe in developing our people from within the firm: we recruit the best graduates from leading universities, provide them with the best training and support and offer them unlimited career prospects. Our 2016 cohort of graduate […]