Elias Neocleous & Co LLC

The firm: Elias Neocleous & Co LLC (ENC) is among the largest firms in southeast Europe and the Eastern Mediterranean, with offices located in Limassol, Nicosia, Paphos, Brussels, Budapest, Kiev, and Prague. It is renowned for its international expertise and jurisdictional knowledge across a broad spectrum of practice areas, spanning all major transactional and market disciplines, to bring strategic solutions to global clients operating in key industries worldwide. The firm is generally regarded as a regional leader, with a particular forte in cross-border work. It advises international clients on all aspects of Cyprus and European law and handles the largest and most demanding cross-border assignments. It also acts for leading companies from global jurisdictions including Asia, the Middle East, India, USA, South America, and China, among others, as they enter the European market.

ENC is widely recognized for its pioneering tech law department comprised of a dynamic team of legal engineers and digitally literate lawyers who specialize in assisting startups and technology companies with all their legal concerns. Additionally, the firm’s ongoing pursuit of merging technology with legal services through the power of advanced AI capabilities to optimize legal service delivery has garnered significant recognition within the broader business community in Cyprus and abroad.

Organizationally, ENC is committed to continuous investment in its human resources and its infrastructure to provide clients with service of the highest quality.

Areas of practice
Admiralty and shipping: Deals with the registration of vessels and aircrafts under the Cyprus and other flags, as well as all aspects of ship finance. It advises on ship sale agreements, charterparties and other types of contracts. It also handles disputes and execution of judgments against assets of shipping and aviation companies worldwide including ship arrests.

Banking and finance: Advises on the Cyprus aspects of major cross-border
finance transactions, including all types of syndicated lending, asset finance and leveraged and acquisition finance. It has strong links with commercial and investment banks, trust companies and underwriters. Clients are appreciative of our ‘assistance and responsiveness.’

Financial services and regulation: Deals with the EU and Cyprus applicable framework on (i) banking and payment services, including those under the banking recovery and resolution regime and the deposit guarantee scheme, (ii) investment services and activities under the Markets in Financial Instruments Directives (MiFID II and MiFIR) as implemented in Cyprus, including under directives and circulars issued by European Securities Markets Association (ESMA) and the Cyprus Securities and Exchange Commission (CySEC); (iii) the EU and Cyprus framework on listed equity and debt securities under the Prospectus Regulation and respective local laws, the Public Offer and Takeover Bids laws and regulations, the Market Abuse Regulatory and regulatory requirements regarding market disclosures and transparency towards regulators as well as capital markets transactions; (iv) the structuring, authorization, supervision and transactions of collective investments, such as alternative investment funds and their managers and UCITS and (v) the regulation of insurance and reinsurance undertakings and intermediaries, under the applicable Cyprus regime.

Corporate and commercial/mergers and acquisitions: Advises on formation, corporate management and governance of companies; formation and use of trusts; mergers and acquisitions of companies in Cyprus and abroad including private and public mergers, takeovers, demergers and disposals; joint venture agreements; corporate reconstruction and reorganisation, inward and outward domiciliation of entities, capital raising transactions and offerings, private equity, stock options and purchase and sale of securities work.

It has particular expertise in investment via Cyprus to and from Central and Eastern Europe, Asia, and South America.

The department also advises local, multinational, and international companies on matters of licensing, procurements, e-commerce, labelling, agency and distribution, consultancy services, consumer protection, concession and operating agreements, and the department specialises in regulatory matters relating to electronic communication, information technology, pharmaceuticals, and data protection (GDPR and NIS Directives).

European Union and competition law: Advises multinational enterprises investing in Cyprus on anti-trust and merger control law issues under domestic and EU competition law and also on distribution agreements and cartel investigations. Our firm has experience with the government and the Competition Authority and a deep understanding of local competition regulation. We offer our clients a tailored service. We also act as counsel to several administrative and quasi-governmental bodies, thus strengthening our relationships with the country’s key stakeholders in competition law.

Employment law: ENC is skilled at advising senior employees as well as major national and multinational companies. It also advises the British High Commission on employment matters, and it is the exclusive representative in Cyprus of the Employment Law Alliance Network, the largest and most prestigious network of labour and employment lawyers, with more than 3,000 attorneys in over 100 countries. The team has particular expertise in drafting employment contracts and related documentation as well as in advising on a broad range of employment law matters, including termination of employment, employee rights and obligations, statutory benefits, employee incentive schemes, transfer of undertakings and protection of employees (TUPE), health and safety at work, collective bargaining, etc.

Energy: Our staff have more than 20 years’ experience in advising potential investors in a wide range of energy projects ranging from onshore and offshore oil and gas exploration operations to renewable energy projects. We have up-to-date knowledge and experience of the relevant national, EU and international legal and regulatory environment applying to all types of energy projects. Our specialists in public procurement have extensive experience in assisting clients in preparing and submitting tenders to the relevant government authorities and in subsequent negotiations and finalization of contracts. Our aim is to help clients identify profitable opportunities and exploit them as effectively as possible. We have assisted several leading participants in the energy market with projects such as applications for exploration license's, public procurement procedures and the negotiation and drafting of all types of energy agreements, including public contracts with joint operation agreements and energy suppliers or drilling contractors. Our unmatched tax expertise allows us to advise clients on the most tax-effective structuring arrangements, taking account of the international nature of the industry and the various tax regimes involved. In addition, we have extensive experience in dealing with the regulatory bodies involved in the monitoring of compliance with the requirements of Cyprus and EU environment, energy and oil and gas legislation.

Intellectual property: Advises on the acquisition, registration, and protection of all types of intellectual property. The firm specializes, inter alia, in advising international clients on the protection and exploitation of intellectual property using Cyprus-based structures to benefit from Cyprus’ advantageous IP taxation regime. Existing clients include clients with household brands in business sectors which include software, electronic service payments, pharmaceutical products, sports, and personal care products.

Technology, privacy and cybersecurity: The ENC team consists of professionals from a range of disciplines marrying strong technical and legal skills with heightened business acumen and extensive ‘hands on’ experience. Staff are qualified in Cyber security, ethical hacking, digital forensics, GDPR compliance and Cypriot, EU and international law. They approach cyber as a corporate governance risk and advise on the full spectrum of cyber issues. This includes directly helping clients understand and mitigate cyber risks, both in their ’business as usual’ operations, and when engaging in activities which raise specific cyber concerns. They also regularly work alongside other practice departments to provide comprehensive solutions for the numerous issues that may arise during business transactions.

Litigation and dispute resolution:  ENC is home to one of the strongest litigation and dispute resolution departments in Cyprus. We are the law firm of choice for prestigious clients seeking assistance with international and domestic litigation and have been involved in many recent high-profile cases. We are also highly experienced in all forms of alternative dispute resolution. Our client base includes leading international law firms (and their clients), leading financial institutions, investment firms, national and international business corporations, and private individuals.

Uniquely in Cyprus our team is divided into four specialist sectors under the guidance of partners Antonis Glykis, Anna Demetriou, Chrysanthos Christoforou and Christos Melides. This separation allows for the development of specific expertise in each sector and plays an important role in ensuring that we achieve the best possible outcomes for our clients.

Infrastructure and project finance: The firm assists clients on landmark developments, global PFI and PPP projects. Advice is specifically tailored to dovetail with the corresponding commercial, banking and finance and tax aspects.

Tax planning and advanced business structuring:  ENC has one of the largest and most experienced law firm tax department in Cyprus and is the recipient of prestigious accolades and tier 1 rankings in recognition of its expertise in this domain. We have an excellent reputation for delivering high quality ‘up to the minute’ advice and planning. Our tax and tax planning resource includes specialists with legal, accounting, and financial backgrounds. This combination together with close cooperation with other teams across the firm enables us to provide our clients with robust, commercial solutions to their tax problems.

Our clients include international law firms, large domestic and international corporations, financial institutions, high-net-worth individuals, and government organizations. We have a marked expertise in cross-border transactions and associated tax planning issues and have been involved in numerous projects across Europe, Asia, and the Americas. We are well versed in contentious issues and corporate tax policy issues. The expertise shown in our international work is mirrored in our domestic tax work where we also have significant capacity and experience. Our clients say, ‘my sincere appreciation for your remarkable attitude, which is very rare.’

Real estate: Our real estate specialists deal with all matters relating to freehold and leasehold property, including transactions and disputes involving commercial and residential property. The department advises both individual and corporate clients. Activities include dealing with all issues related to real estate, including acquisition and sale of immovable property, legal due diligence for property acquisitions, estate planning and, particularly for HNWIs, succession issues.

Immigration: Our immigration team has a long record of successfully dealing with all matters relating to immigration law, applications for immigration permits, permanent residence permits, employment permits and visas. The department advises both individual and corporate clients. It provides an integrated service, optimizing tax and other benefits in conjunction with the client’s advisers in his or her country of origin and anywhere else they may have financial interests. Areas of work include citizenship applications, employment permits, permanent residence permits, immigration permits and visas.

Private client: ENC has an established record in providing high quality services to private clients and high-net-worth individuals. Both our department and our department head, Elias Neocleous, are ranked as tier 1 performers by a host of independent rating agencies. Clients derive significant benefit from the firm’s multidisciplinary specialist expertise provided by several departments and offices, in Cyprus and across Europe, ensuring a top-tier ‘one-stop’ service which is specifically tailored to the clients’ needs. Whatever our clients’ objectives are, be they tax minimization, estate planning, philanthropy, or any other goal, our team has the skill set and the experience to allow them to achieve it in a tax efficient and legally compliant manner.