Elias Neocleous & Co

Cyprus

World Tax Reviews

Overview

Elias Neocleous & Co boasts Cyprus’s largest and most experienced tax planning team, led by Elias Neocleous and Kyriacos Xenophontos. The team includes 25 specialists and 12 trust professionals, working closely with LIS Primus and expert Spyros Ioannou. Operating departmentally, ENC ensures high-quality service through integrated support functions. Team members pursue advanced qualifications like ADIT, keeping the firm at the forefront of tax reform and international insight. The firm advises MNEs, HNWIs, and government bodies on complex domestic and cross-border tax matters, with a strong reputation in both advisory and contentious tax work. 

During the research period, the firm advised a Dutch parent company on whether to establish a branch or incorporate a separate legal entity in Cyprus to support strategic expansion, focusing on operational, tax, and compliance goals. In addition, the team provided a Crypto Client with comprehensive tax and structuring guidance for the incorporation of a Cyprus company within a complex international group, addressing broader cross-border tax implications. 

Client Feedback 

"Fast, professional service, combined with flexibility and the ability to analyse uncommon cases, sets the team apart." 

Tax

Elias Neocleous & Co is a highly regarded tax and legal firm. The practice concentrates on both contentious and non-contentious tax advisory. Its clientele consists primarily of MNEs, HNWIs, and government organisations, and the tax team has substantial experience assisting in complex domestic and cross-border transactions. The tax practice is led by managing partner Elias Neocleous, who is assisted by a professional team of tax partners and lawyers, including Kyriacos Xenophontos and Elena Christodoulou.

Recently, the firm advised a multinational corporation's Cyprus entity on converting from a private entity to a public entity and consummating the business combination agreement by reviewing the various agreements that the Cyprus entity must enter into, and provided regulatory advice from a Cyprus law perspective in order for it to be listed on the NASDAQ. The team also advised a major maritime organisation on Cyprus's EU-approved tonnage tax scheme, which provides significant savings to ship owners, charterers, and managers.

Claire Raouna and George Shambartas, senior accountants, joined the firm during the research period.

Client feedback

“Very responsive and thorough and able to tailor advice to suit the specific needs of our client.”

“A professional approach to the client's tasks, the fastest possible response to requests, comprehensive answers to emerging questions and a proactive approach to business.”

“Very quick on their responses, friendly, very polite, crystalised advice in all queries, productive and fruitful feedback.”