Cyprus and Barbados sign double taxation avoidance agreement
After several years of negotiations, Cyprus and Barbados signed an agreement for the avoidance of double taxation on 3 May 2017 in London. The two countries have a good deal in common: both are former British colonies that achieved independence in the 1960s and both have a service-based economy, in which tourism and international financial […]
Elias Neocleous & Co LLC assists with the establishment of the first active domestic UCITS in Cyprus
Elias Neocleous & Co LLC has a specialist funds advisory team forming part of our Financial Services Support and Advice practice area. We recently assisted a major regional financial institution with the establishment and licensing of the first active domestic Undertaking for Collective Investment in Transferable Securities fund in Cyprus. The fund operates as a […]
“Roam like at home”: abolition of mobile roaming costs across the EU from June 2017
Communicating while travelling will be made easier and cheaper, as the EU extends the four fundamental freedoms set out in the Treaty on the Functioning of the European Union to add the free movement of data as a new freedom in the single market. The abolition of mobile telephone roaming surcharges throughout the EU, which […]
The new Merchant Shipping (Marine Equipment) Law
The Department of Merchant Shipping (DMS) has announced the enactment of the Merchant Shipping (Marine Equipment) Law (Law 23(I)/2017), which transposes the latest EU Marine Equipment Directive into national law. The objective of the new Marine Equipment Directive is to enhance safety at sea and to prevent marine pollution through the uniform application of the […]
CySEC request for regulated entities’ assistance in consultation on payment services
The latest circular from the Cyprus Securities and Exchange Commission to entities that it regulates requests their participation in a public consultation on draft guidelines setting out payment service providers’ obligations regarding detection and prevention of the abuse of funds transfers for terrorist financing and money laundering purposes. The consultation is being undertaken jointly by […]
EXAMINERSHIP: saving viable companies from insolvency?
Until recently insolvent companies registered in Cyprus had only two options: to come to a compromise with their creditors, or to be wound up. Arriving at a compromise depended on retaining the goodwill and cooperation of all the creditors until the process was complete: there was nothing to stop any creditor taking individual enforcement action […]
Citywealth interview with Elias Neocleous
Citywealth, the leading portal for ultra-high net worth clients and their advisers and managers working in the private wealth sector, produces a range of publications, events, training and networking groups which bring together different segments of the market to build business and raise standards in the sector, connecting global private wealth management professionals and private […]
Extension of submission date for employee tax returns
The Cyprus Tax Department has announced an extension of the date for submission of the Employee Income Statement for the tax year 2016. Printed forms must be submitted no later than 2 May 2017 and returns submitted electronically via the “Taxisnet” system must be submitted no later than 30 September 2017. In every case, both […]
Seminar on recovery and restructuring
On 5 April a team from our firm, led by Maria Kyriacou, head of our Nicosia office, presented a seminar for senior personnel of one of the leading local banks on the topic of dealing with problem debt. The presentation covered all the options available to banks, from informal restructuring and performance improvement to formal […]
Elias Neocleous & Co LLC – top-rated across the board by The Legal 500
The latest Legal 500 rankings for Europe, the Middle East & Africa, released on 12 April, recommend Elias Neocleous & Co LLC as a top-tier firm in all nine practice areas covered by the Legal 500’s research, a distinction which no other Cyprus law firm comes close to emulating. Indeed, in two practice areas, banking […]
