IFLR 1000
The Guide to the World's Leading Financial Law Firms

Cyprus

Legal market overview Printer-friendly version

Previous rankings and editorial: [2005] [2006] [2007] [2008] [2009] [2010] [2011]

New legislative developments

Elias Neocleous
Andreas Neocleous & Co
Limassol

Elias Neocleous (Bio)

Cyprus is a well-established international business and financial centre, strategically located at the crossroads of Europe, Africa and Asia. A British colony for much of the twentieth century, Cyprus became independent in 1960. It joined the EU in 2004 and the Eurozone on January 1 2008. It has a transparent, robust and independent legal system based on common law and a modern, business-friendly legal and taxation system. Tax rates are among the lowest in the EU and there is a wide network of double taxation treaties offering attractive planning opportunities.

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Financial and corporate

The recent Eurozone debt crisis has severally affected the region's financial stability, with Cyprus no exception, though the island had seen a certain degree of economic recovery throughout 2010. This was shattered however in July 2011 when the country became the latest victim of a sovereign debt downgrade by the infamous rating agencies....

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Cyprus
Western Europe

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New legislative developments

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