At Chrysostomides Advocates & Legal Consultants, George Ioannou heads up a talented team which is highly regarded for its advice on a broad array of tax planning matters. The department frequently advises on the tax implications of issues in the digital economy, as well as on mergers and acquisitions, reorganisations and joint ventures. It continues to be busy advising on a variety of other commercial projects and due diligence matters. The group is immensely experienced in advising on issues such as transfer pricing, employment taxes and withholding taxes in cross-border transactions. A significant part of its tax-related work relates to advising wealthy individuals on personal tax matters and tax-efficient structures. Konstantinos Taramountas is another highly-regarded member of the practice.
Tax in Cyprus
Chrysostomides Advocates & Legal Consultants
Praxisleiter:
George Ioannou
Weitere Kernanwälte:
Konstantinos Taramountas
Referenzen
‘Very prompt and business-friendly tax advice, immediate turnaround and availability.’
‘George Ioannou and Konstantinos Taramountas are always pleasant to work with, technically oriented, and provided targeted advice.’
‘Chrysostomides Advocates & Legal Consultants is distinguished by its exceptional expertise in cross-border legal matters, paired with a personalised and technology-focused approach to client service.’
Kernmandanten
Wolt Cyprus Ltd
Tencent
Veeva Systems
Marsh & McLennan Companies
FedEx Corporation
Microsoft Corporation
Moody’s Corporation
BRP Tax
Mastercard
Astrobank PLC
DECA Investments
Highlight-Mandate
- Advised DECA Investments, a private equity fund based in Luxembourg, on the tax aspects for the acquisition of a multi-million EUR minority stake in cybersecurity provider Odyssey Consultants Limited.
- Advised the American University of Beirut on the tax implications of its EUR60m investment in Cyprus for the construction of a new campus.
- Advised FedEx and Microsoft Corporation on Cyprus-based employees’ tax matters, including corporate tax, personal income tax and withholding tax.
Clerides, Anastassiou, Neophytou LLC
The ‘extremely professional and proactive’ team at Clerides, Anastassiou, Neophytou LLC is ably co-led by Stavros Clerides and Andri Stylianou. The group has substantial experience in sophisticated cross-border and local transactional work. It is frequently called upon by major US and international law firms to advise on the tax elements of significant multi-jurisdictional deals and projects. The practice has a wealth of experience in advising on acquisitions, mergers and IPOs. In addition, it routinely advises on the tax dimension of numerous complicated financial arrangements. It is recognised for its expertise in private equity and venture capital deals, as well as for its experience in angel financing and IP deals. The team is highly sought after too for its work on a variety of tax compliance matters.
Praxisleiter:
Stavros Clerides; Andri Stylianou
Referenzen
‘Stavros Clerides is outstanding. His dual qualification as an accountant and lawyer gives him a unique advantage in the area of tax law.’
‘Stavros Clerides is second to none and has an exceptional grasp of tax and legal matters together and is of great assistance when we require innovative cross-border structuring work and tax planning. He is a brilliant lawyer with a deep understanding of corporate finance and business matters.’
‘Andri Stylianou has wide experience in structuring and negotiating complicated cross-border transactions and is also very efficient and diligent.‘
Kernmandanten
Mobileye BV Group
Phanos N. Epiphaniou Plc
Southbridge Advisors A.I.F.M.
Dla Piper
Lorgena Ltd
Mintz, Levin, Cohn, Ferris, Glovsky, and Popeo
Nychiza Ltd
Isotax Ltd
Highlight-Mandate
- Advised on the structuring of a transaction regarding the acquisition of a luxury hotel project in Europe and the Cyprus corporate and tax legal aspects of the deal.
- Advised on the Cyprus aspects of the sale of a luxury residential property project in Cyclades.
- Advised several clients on their obligations in relation to the implementation of the EU Council Directive 2011/16 on cross-border tax arrangements (known as DAC6 ), as amended.
Elias Neocleous & Co LLC
Elias Neocleous & Co LLC has a stellar reputation in the market. The agile group specialises in developing and implementing innovative tax-efficient structures for international transactions. The department handles the full range of domestic tax issues and tax litigation and is particularly sought after for its expertise in advising on the tax implications of employment relationships. Other elements of this wide-ranging practice include advising HNWIs and their advisors on a range of complex tax issues. The versatile group is recommended for its support on various compliance matters too. It has sector expertise in many areas, such as shipping, real estate and energy. Elias Neocleous and Kyriacos Xenophontos are at the helm. Elena Christodoulou plays a pivotal role in the department too.
Praxisleiter:
Elias Neocleous; Kyriacos Xenophontos
Weitere Kernanwälte:
Elena Christodoulou; Fabian Cabeza
Referenzen
‘Elias Neocleous & Co. LLC has a broad team, we have been working with them for years and they are a reliable party. Elias Neocleous himself is very responsive and friendly.‘
‘Excellent team with excellent legal and commercial skills.’
‘Understands the real issue quickly, and proposes good and robust solutions. Elena Christodoulou and Fabian Cabeza are excellent and are a perfect team on corporate and tax matters.’
Kernmandanten
Made.com
Mintra Holding AS (Norway)
Invel Real Estate Partners
Airbnb
Booking.com
Limassol Marina
KKCG Group
Allwyn Group
Bloomberg
Avanti Communication Group Plc
Prodea Investments
Huawei Technologies
Highlight-Mandate
- Advised a game development studio on the tax implications associated with the implementation of Council Directive (EU) 2020/284 implementing the Central Electronic System of Payment Information (CESOP), and particularly on the EU VAT tax risks relating to its operations with key US partners.
- Advised an international group on the Cyprus tax implications of its proposed establishment of an online platform that will display non-fungible tokens (“NFTs”) linked to unique digital assets being sold through the platform.
- Advised an international media and entertainment group on tax structuring and on the planning for its proposed expansion into the European market, and addressed specific advice on Pillar II implementation in Cyprus, as well as on Cyprus-specific incentives available to the company.
KINANIS LLC
The ‘extremely knowledgeable’ team KINANIS LLC ‘takes a personal interest in its clients’ matters’. Its dedicated tax advisory and compliance practice is collectively led by Charalambos Meivatzis, Marios Palesis and Demetra Constantinou. Clients come from a range of sectors, such as tech, aviation and real estate. It often works with international law firms, accounting firms and other consulting practices. The group has wide-ranging expertise across areas as diverse as transfer pricing, VAT and cross-border tax investigations. Additionally, it provides personal tax services to wealthy individuals. It has considerable cross-border expertise and frequently advises on the tax aspects of corporate structures and reorganisations. Yiota Michael has left the firm.
Praxisleiter:
Charalambos Meivatzis; Marios Palesis; Demetra Constantinou
Weitere Kernanwälte:
Stephanos Charalambous
Referenzen
‘Detailed, specialised, knowledge that is conveyed in a way that non-specialists can understand and make informed decisions as to how to proceed. Professionalism served with approachability. Formal but friendly.’
‘The below-mentioned individuals stand out because during our collaboration they are extremely knowledgeable, top professionals to work with, very prompt and eager to assist! Stephanos Charalambous, Marios Palesis.’
‘I like the human approach. Marios Palesis and Demetra Constantinou are always willing to help and to revert promptly to our queries.’
Kernmandanten
Xomonel Enterprises Ltd
Farsonex Investments Ltd
Megatren Investments Ltd
Halman Consultants (Overseas Ltd)
Audax Consulting
Chenor AG
Torwell Holdings
Lenhill
Elsavco Audit Tax Ltd
Istos Global Ltd
VATastic AG
Twiti Investments Ltd
Highlight-Mandate
- Undertook a restructuring for an international online securities trading trainer.
- Assisted a client on how to apply for the new ‘Film in Cyprus’ incentive scheme, designed to attract international film productions to the island.
- Advised on, then prepared and successfully obtained, a favourable outcome through an Advanced Tax Ruling submitted to the Cyprus Tax Department on behalf of an online games publisher.
Patrikios Pavlou & Associates LLC
The skilled team at Patrikios Legal is well-versed in all aspects of cross-border transactions. It advises international corporate entities, large groups of companies and HNWIs on the implementation of effective tax planning structures and tax disputes. The group is well-equipped to advise on the tax aspects of major restructurings, the execution of multi-million financing transactions and complicated loan restructurings. Stavros Pavlou and Stella Strati spearhead the practice, which is highly rated for its work on a variety of private client and trust law matters too. Angelos Onisiforou has considerable expertise in indirect tax and VAT matters.
Praxisleiter:
Stavros Pavlou; Stella Strati
Weitere Kernanwälte:
Angelos Onisiforou
Referenzen
‘I have worked closely with Angelos Onisiforou. I was impressed with his dedication, drive and passion regarding the work he undertook. A solid member to have on any legal team.’
‘The Patrikios Legal tax team is one of the most professional teams that my company has worked with. Their knowledge of the industry is exceptional and always up to date.’
‘They are very efficient and always available. Definitely a team of lawyers to use for any tax-related matters. The Patrikios Legal tax team just gets the job DONE.’
Kernmandanten
Across Legal SLP
DLA Piper
Yiallourides & Partners
Iason Skouzos Tax Law
Chelco VAT
Lenz & Staehelin
White & Case LLP
Nelson Mullins
Highlight-Mandate
- Advising an expanding group of companies with a presence in different jurisdictions throughout the world, operating in the field of software development, on the restructuring of the group, by way of the incorporation of a Cyprus holding company.
- Represented a client before the Tax Tribunal of Cyprus for the wrongful imposition of VAT on the disposal of immovable property.
- Advising a professional mixed martial arts fighter in relation to the management of his image rights and in relation to the corporate structure relating to the promotion of the athlete and the management of the image rights.
AGPLAW | A.G. Paphitis & Co. LLC
The team at AGPLAW | A.G. Paphitis & Co. LLC is well-placed to advise domestic and international corporate and private businesses, as well as HNWIs on a broad array of issues. Under the joint leadership of Angelos Paphitis and Michael Alexandrou, the team specialises in transfer pricing, international tax planning and corporate tax advisory work. In addition, the department provides private tax and wealth planning services to its clients. Another area of focus is advising on VAT matters.
Praxisleiter:
Angelos Paphitis; Michael Alexandrou
Weitere Kernanwälte:
Aphrodite Demetriou
Referenzen
‘The AGP team have been exceptional from start to finish. I am very happy with all the support they have provided over the years.’
‘Michael Alexandrou is my man – he sorts everything out for me without question or fuss, always on the ball.’
‘AGP’s tax team is very professional and ready to help with any question.’
Kernmandanten
AFW
Investments Ltd
Yesteq Ltd
TIM Global Invest Group Ltd
Gaintrade Limited
Tenet Middle East Tax Consultants L.L.C.
Fidentia Trust S.A.
Musecy SM Ltd
Metaquotes Ltd
Sharp Consumer Electronics Europe Ltd
Finery Markets Ltd
Highlight-Mandate
- Advised AFW Investments Ltd on the tax classification of its property sales in Cyprus, determining the company should be taxed as a trader at a 12.5% corporation tax rate instead of a 20% capital gains tax rate.
- Advised Yesteq Limited on the tax treatment of distributions from its wholly owned U.S. Single Member LLCs, determining that these LLCs could either be treated as permanent establishments, incorporating their income and expenses into Yesteq’s financials, or as sources of dividend payments, each with different tax implications under Cyprus law.
- Advised TIM Global Invest Group Ltd on the timing of dividend taxation for a non-domiciled Cyprus tax resident, confirming that dividends are taxed based on the declaration date, not the payment date, thus ensuring accurate tax reporting and compliance.
Andreas Coucounis & Co LLC
Dimitria Coucouni heads up a versatile practice at Andreas Coucounis & Co LLC, which regularly advises multinational groups of companies on Cyprus tax-related matters. It has been busy working on a diverse range of matters, from advising on VAT invoicing and VAT fraud to providing regular tax updates to international law firms on changes in tax legislation relating to DAC6. The group is well-equipped to advise wealthy individuals and corporations who want to invest in Cyprus. In addition, it often advises on tax residency issues. Tasos Coucounis is another key member of the team.
Praxisleiter:
Dimitria Coucouni
Weitere Kernanwälte:
Tasos Coucounis
Kernmandanten
Gartner Inc.
Amazon
Joseph Avzuk
Chesterwell Investments Limited
Prime Commercial Properties Management Ltd
P & BS Holdings Limited
Highlight-Mandate
- Advising Gartner Inc, a research and advisory company, on matters pertaining to its IP holdings with a value exceeding $3bn.
- Advised Amazon on Cyprus tax and VAT-related matters.
- Advising an HNWI from Israel on tax issues pertaining to the disposal of investments in a Cyprus holding company with subsidiary interests to the value of €2.5m.
Antis Triantafyllides & Sons LLC
Under the joint leadership of Stelios Triantafyllides and George Triantafyllides, the tax practitioners at Antis Triantafyllides & Sons LLC are integrated into the firm’s transactional teams. It advises corporations and individuals on a wide range of Cypriot tax matters. Key clients include local and international groups of companies, as well as financial institutions. Through the firm’s litigation department, the firm is regularly involved in various high-profile tax cases.
Praxisleiter:
Stelios Triantafyllides; George Triantafyllides
Referenzen
‘Prompt response and knowledge.’
Kernmandanten
Builder’s Provident Fund
Highlight-Mandate
- Currently handling four appeal cases filed against the Republic of Cyprus in the Supreme Court of Cyprus on behalf of the Builder’s Provident in Cyprus, in connection with the tax imposed on hundreds of property transactions carried out between 1991 and 2007 involving the Builder’s Provident Fund.
AMG Mylonas & Associates, LLC
Andreas Mylonas spearheads the practice at AMG Mylonas & Associates, LLC, which advises on all aspects of corporate and business taxation. It frequently advises its local and international clients on cross-border corporate tax and issues spanning transfer pricing, VAT, tax planning and financial management. The group is recommended for its work in the fintech space, and for its experience in advising on the tax aspects of cryptocurrency projects.
Praxisleiter:
Andreas Mylonas
Referenzen
‘Andreas Mylonas has a client-focused practice grounded on long years of good quality work and always searching for the best opportunity for clients.’
‘The team’s ability to blend deep legal knowledge with practical business insights allows them to provide tailored solutions that stand out in the legal landscape.’
‘The individuals within this practice are distinguished by their remarkable expertise and dedication to client success. Each team member brings a unique skill set that collectively enhances the firm’s capabilities.’
Highlight-Mandate
- Acting as the legal advisors of a Cyprus shipping fund, a registered alternative investment fund (“RAIF”), registered with the Cyprus Securities and Exchange Commission (CySEC).
- Advised a client on a 10MW investment in renewable energy PV parks in Cyprus.
E & G Economides LLC
George Economides heads up the team at E & G Economides LLC, which ‘consistently delivers innovative and tailored solutions’. It regularly handles a broad array of matters, such as advising on transfer pricing and reviewing the tax aspects of cross-border mergers, acquisitions and disposals. It is skilled at advising on the tax structuring of trusts and companies, and on double tax treaties and EU directives. Additionally, the group has been busy advising on the tax structuring of international investments.
Praxisleiter:
George Economides
Referenzen
‘E & G Economides LLC’s tax practice is unique due to its proactive approach and deep expertise in both local and international tax matters. The team is known for its strategic thinking, clear communication, and responsiveness, which provide clients with confidence and peace of mind.’
‘The individuals I have worked with at E & G Economides LLC are exceptional, characterised by their professionalism, expertise, and unwavering commitment to client service. They consistently demonstrate a deep understanding of complex legal and tax matters.’
‘George Economides stands out for his remarkable leadership and strategic vision. George combines deep technical knowledge with an approachable, client-focused manner. He has a unique ability to distil intricate tax issues into clear, actionable advice.‘
Kernmandanten
Polsteam Shipping Company Limited
Lollengo Creations Ltd
Ianira Enterpises Limited
P.G. Economides Properties Plc
Totalserve Investments Limited
Highlight-Mandate
- Appointed as the legal advisor to the client on a transaction involving a high-value plot of land.
- Appointed as the legal advisor to P.G. Economides Properties PLC on a transaction involving a high-value plot of land.
- Provided a brief tax analysis to a client in relation to the Cyprus tax implications of various matters.
Harris Kyriakides
Michael Kyriakides and Angela Charalambous jointly head the practice at Harris Kyriakides. The group has an excellent reputation for its work on tax-related disputes and appeals. It has a deep understanding of VAT disputes in particular and has notable experience advising on tax issues relating to real estate investments. Its clients are multinational companies, HNWIs and trusts. The group also excels in advising on a whole host of regulatory and compliance matters.
Praxisleiter:
Michael Kyriakides; Angela Charalambous
Kernmandanten
PPT Aviation Services Ltd
EOA Larnaca (Larnaca Waterboard)
Larnaca Flourmills Zenon Ltd
Planet Tax Free (Cyprus) Limited
Highlight-Mandate
- Advised PPT Aviation Services Ltd on a challenge to retrospective taxation on aviation fuel in Cyprus.
- Represented Larnaca Flourmills Zenon Ltd in a challenge to the Tax Commissioner’s decision to tax haircut deposits from 2013.
- Provided legal counsel to the Larnaca Waterboard in a tax dispute with the Ministry of Finance concerning the imposition of a special defence contribution on deemed dividend distribution.
Michael Kyprianou & Co. LLC
The multidisciplinary team at Michael Kyprianou & Co. LLC remains busy advising on the tax aspects of restructurings, reorganisations, M&A and liquidations. It frequently advises on transfer pricing as well as on issues relating to the re-domiciliation of companies. The group regularly advises HNWIs on their tax planning and trust arrangements as part of investments into Cyprus. Lambros Soteriou and Tonia Antoniou are the heads of the department.
Praxisleiter:
Lambros Soteriou; Tonia Antoniou
Weitere Kernanwälte:
Ioanna Solomou; Stephanos Ayiomamitis
Referenzen
‘Michael Kyprianou & Co. LLC’s tax practice is distinguished by its deep expertise and client-centric approach. The team is skilled in handling complex tax matters, offering tailored solutions that are both innovative and practical.’
‘Their diverse team ensures well-rounded, strategic advice. They excel in blending legal and commercial insights, making them a reliable choice for comprehensive tax services.’
‘The individuals at Michael Kyprianou & Co. LLC stand out for their deep expertise, responsiveness, and dedication to client needs. Their ability to simplify complex tax issues and provide clear, actionable advice sets them apart from competitors.’
Highlight-Mandate
STELIOS AMERICANOS & CO LLC
The agile team at STELIOS AMERICANOS & CO LLC receives a steady flow of instructions to advise on corporate tax matters and double tax treaties. It is skilled at helping clients with other matters, such as VAT and stamp duty in Cyprus, as well as advising on personal income tax. The group concentrates too on advising on social insurance contributions for employers, employees, and the self-employed. Stelios Americanos and Andreas Michaelides are the practice heads.
Praxisleiter:
Stelios Americanos; Andreas Michaelides
Referenzen
‘The firm boasts a team with extensive knowledge across various sectors, allowing for tailored tax strategies that align with industry-specific challenges and opportunities.’
‘A commitment to understanding each client’s unique circumstances fosters strong, long-term relationships. Regular check-ins, customised reporting, and proactive advice.’
‘The team possesses deep knowledge in niche areas of tax law, which allows them to provide tailored solutions. The firm prioritises building strong relationships with clients.’
Kernmandanten
Am. Samothraki Ktimatiki Ltd
Revera Legal and Tax Services
FTL Advisers Ltd
Cliff Legal Services
Urvista Legal Law Practise
ASB Consulting Group
Chelsea Group LLC
Forward Legal
Nicosia Mall Holdings Ltd
Highlight-Mandate
- Advising G2 Fund AIFLNP V.C.I.C Ltd on approval from the tax authorities for a group reorganisation and on other matters such as capital gains tax and corporate tax.
- Advised Samothraki Ktimatiki Ltd on the capital gain arising on the disposal of properties.