Michael Kyriakides, Partner at Harris Kyriakides, shares the firm’s approach to evolving client demands.
What do you see as the main points that differentiate Harris Kyriakides from your competitors?
Our law firm stands out in the competitive landscape of Cyprus through our unwavering commitment to personalised service, extensive local expertise, and a proactive approach to legal solutions. We pride ourselves on cultivating strong relationships with our clients, ensuring we understand their unique needs and challenges. Our team comprises seasoned legal professionals with diverse backgrounds, enabling us to provide comprehensive, multidisciplinary support across various sectors. We embrace innovation by integrating advanced legal technologies and data analytics into our practice, enhancing our efficiency and service delivery. Our dedication to continuous improvement is reflected in our rigorous compliance with international standards and our focus on sustainability and corporate social responsibility, ensuring we contribute positively to both our clients and the community.
Which practices do you see growing in the next 12 months? What are the drivers behind that?
In the upcoming year, we expect significant growth in several key practice areas, particularly technology law, cybersecurity, artificial intelligence (AI), and environmental, social, and governance (ESG) compliance. The rapid digital transformation across industries is increasing the demand for legal expertise in these domains, particularly concerning data protection, privacy regulations, and the ethical implications of AI use. Furthermore, the cryptocurrency sector is expanding rapidly, driven by rising interest in digital assets and blockchain technologies. This creates a growing need for legal guidance on compliance with anti-money laundering (AML) regulations and navigating the evolving regulatory landscape. Geopolitical tensions, alongside imposed sanctions, are reshaping business operations and investment strategies. As a result, we anticipate a surge in legal inquiries related to sanctions compliance, restructuring, and dispute resolution as businesses seek to adapt to these challenging environments. Lastly, the increasing emphasis on ESG principles, driven by both regulatory requirements and consumer expectations, will see our firm playing a pivotal role in advising clients on sustainable practices and compliance with emerging ESG regulations. This convergence of factors will enable us to position ourselves as trusted advisors in a rapidly evolving legal landscape.
What's the main change you've made in the firm that will benefit clients?
Our firm has made a significant shift towards integrating artificial intelligence (AI) into our legal practices to enhance the quality and efficiency of our service delivery. By adopting advanced AI-driven tools, we are able to streamline legal research, automate routine tasks, and analyse large volumes of data with unprecedented speed and accuracy. This technological transformation not only reduces turnaround times but also allows our lawyers to focus on providing strategic advice and personalised solutions to our clients. Additionally, we have established a dedicated team to explore innovative AI applications in legal services, ensuring we remain at the forefront of the evolving legal landscape. This initiative enables us to deliver insights derived from data analytics, helping our clients make informed decisions and stay ahead of regulatory changes. Ultimately, these advancements in AI technology empower us to enhance our client interactions, improve service delivery, and provide more comprehensive legal solutions tailored to their specific needs.
Is technology changing the way you interact with your clients, and the services you can provide them?
Absolutely, technology is reshaping our interactions and service offerings. We leverage secure communication platforms to facilitate real-time consultations and updates, ensuring that our clients can easily reach us whenever needed. Our digital resources, including an updated online knowledge base, provide clients with access to essential legal information and insights. Additionally, we are implementing advanced case management software that enhances our efficiency, allowing us to manage cases more effectively and keep clients informed throughout the process. This technological integration empowers us to offer more transparent and responsive services.
Can you give us a practical example of how you have helped a client to add value to their business?
We regularly assist clients in restructuring their corporate framework to optimise their operations for greater efficiency and tax effectiveness. Our team conducts a thorough analysis of the existing structure and recommends adjustments that align with the clients’ expansion goals. We help negotiate favorable terms with partners and service providers, ensuring that payment structures are efficient and compliant with international standards. This comprehensive approach not only streamlines the clients’ operations but also results in significant cost savings and improved profitability. By aligning the corporate structure with their business objectives, we add substantial value and position them for future success in new markets.
Are clients looking for stability and strategic direction from their law firms - where do you see the firm in three years’ time?
Clients increasingly seek law firms that offer not just legal expertise but also strategic insights tailored to their unique circumstances. In the next three years, we envision our firm as a leader in the Cyprus legal market, known for our deep industry knowledge and client-centric approach. We aim to expand our service offerings while continuing to attract and develop top talent. By fostering a culture of collaboration and innovation, we will ensure that we remain responsive to our clients’ evolving needs, providing them with the stability and direction required to thrive in an ever-changing business landscape.
