About Cyprus
Cyprus is the third largest island in the Mediterranean Sea and lies south of Turkey with Lebanon, Syria and Israel at its south and east. A member of the European Union since 2004, Cyprus is an attractive and well-regarded financial services centre with advantageous tax rates, a professional and skilled workforce, and a robust regulatory framework. English and Russian are widely spoken and the Euro was adopted as currency in 2008. A colony of the United Kingdom until 1960, the Cypriot legal system is based on English common law. The capital of Cyprus is Nicosia, also called Lefkosia. Harneys Cyprus office is located in the second largest city, Limassol, on the south coast.
Over 200,000 companies are resident in Cyprus. The low tax rate together with an extensive double taxation treaty network with most Western, Central and Eastern European states provides companies resident in Cyprus with a strong basis for cross-border investments. Cyprus is a very popular destination for Russian offshore business and also increasingly so for Indian offshore business. Cyprus also has attractive and business-friendly legislative regimes for trusts, investment funds and shipping.
Harneys in Cyprus
As the first offshore law firm with a presence in Cyprus, Harneys continues to demonstrate a strong market presence for corporate transactions demonstrating a much needed specialization on Cyprus law in areas such as banking, corporate finance, aircraft leasing, aircraft and ship finance, trusts, joint venture projects, mergers and acquisitions.The firm has been recommended by independent legal directories including Legal 500, Chambers Global and the IFLR1000.
Practice Areas
Banking & Finance – We have extensive experience in banking and finance law leading to regular engagement by Lenders and Borrowers in international transactions of high value structured finance.
Corporate – We assist international clients with matters ranging from incorporation and compliance to IPOs in foreign regulated markets. We advise on complex corporate and corporate governance issues including the rights and liabilities of shareholders and directors and acting as back office advisors to leading litigators seeking in-depth analysis of corporate matters.
Financial Services - We advise individual and corporate clients before the Cyprus Securities and Exchange Commission and offering legal advice to clients dealing in investment and financial services.
Mergers & Acquisitions – Our significant depth of experience on cross border mergers, acquisitions and joint ventures makes us a leading team in Cyprus for M&A.
Insolvency – The firm has a reputation for providing accurate, clear and timely advice to liquidators as well as lenders seeking to enforce or protect their rights in insolvency proceedings including cross border insolvency issues.
Tax - We provide comprehensive advice on complex cross-border tax issues and providing significant input on cross border mergers, corporate and private client matters as well as assisting clients in international structuring with a view to tax optimization.
Private Client – We work alongside clients to navigate them through the advantages of Cyprus as a jurisdiction and advising clients with asset protection and estate planning which includes the set up of international trusts.
Private Equity and Funds – We advise private equity firms on setting up funds in Cyprus including but not limited to international collective investment schemes.
CYPRUS
Aristodemou Loizides Yiolitis LLC
Loucaides Building, 2nd Floor
Arch. Kyprianou & Ayiou Andreou Str.
P.O. Box 50264
3036 Limassol, Cyprus
tel: + 357 25 820020
Client Area
Aristodemou, Pavlos
