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The Firm

IOANNIDES DEMETRIOU LLC is a full-service commercial law firm with offices in Nicosia and Limassol. The firm has a dynamic team dedicated to working for the fulfillment of the firm’s mission and to exacting quality standards (ISO 9001:2000). The standard ensures that all processes adopted by the firm are carefully decided and are rigorously followed in order to ensure the highest standards of service to clients.

IOANNIDES DEMETRIOU LLC is in a position to meet and exceed the expectations and demands placed upon it by the firm's enviable client base which includes amongst others international and local banks, public bodies, semi-governmental organisations, public and private foundations, universities, international and local contractors and consultants and major international and local commercial enterprises, concession holders and businesses, insurance, hotel/tourism companies and shipping companies.

The firm's lawyers have acted as legal advisers to some of Cyprus' biggest financial deals. To this respect, the firm has extensive in-house expertise in several key sectors of the market and professionals who are highly respected by both the local and the international community.

Areas of Practice

The firm provides legal and advisory services to both public and private sector clients in the fields of corporate law, banking, insurance, financing, mergers/acquisitions, taxation, energy, construction, competition, shipping, aviation law, litigation, ADR, BOT/PFI. Additionally the firm’s prominent position and high level of contacts built through the excellent reputation and expertise of its partners enables it to provide invaluable assistance in the fields of public and government affairs and government relations.

Commercial and Corporate Law

The firm provides the full range of commercial law services to local and international businesses in all aspects of their activities ranging from establishment, structuring and advice on a daily basis in commercial transactions. The firm’s corporate lawyers handle among other, corporate acquisitions, corporate finance agreements, corporate reorganizations and restructuring, corporate investigations, international corporate transactions, stock exchange listings and public offers. In association with its wholly-owned subsidiary, Nobel Trust Ltd, the firm provides fiduciary services including the incorporation and management of companies registered in Cyprus or abroad, banking and administration services, escrow services, bookkeeping services and formation of trust and other business vehicles.

Litigation/ADR

The firm's civil and administrative law litigation lawyers provide the full range of civil and public/administrative law litigation services. The litigation team is renowned for its expertise in the fields of both international and local commercial litigation, including banking, financial disputes and public and administrative law recourses before the courts of Cyprus and administrative organs such as tender review authorities and competition tribunals and the full range of arbitration and ADR services. The firm has been involved in many of the largest civil litigation suits heard in Cyprus and regularly represents foreign governments and private clients before the courts of Cyprus.

Tax Advisory

The firm’s tax professionals provide tax advisory services to both local and international clients in the areas of corporate and personal taxation, asset and wealth management, international tax and estate planning and Value Added Tax. In addition, they can assist with the provision of tax opinions, tax rulings, representations at the tax office as well as tax disputes and litigation in co-operation with our litigation department.

Major Activities

Banking

• Senior local law firm of major Cypriot and international banks operating in Cyprus, advising on all major corporate and banking transactions, buy-outs and advising on compliance and regulatory requirements.
• Advising international banks on project/ship/aircraft financing transactions where facilities granted involve Cypriot entities and reviewing and advising on statutory registrations of security documents.
• Transfers of banking businesses.
• Providing advice in relation to the drafting of banking legislation including the Covered Bonds Law 130(I)/2010 that came into force in December 2010.
• Advised on the first issue of Covered Bonds by a Cyprus bank of a €5 billion value.
• Acted for a consortium of lenders, in relation to the project financing of the first wind farm in Cyprus.
• Restructuring of facilities/securities by a leading Russian natural gas producer in amounts exceeding US$700m.

Mergers and Acquisitions/Corporate

• Takeover of 50% of an international mobile operator with activities in Cyprus.
• Takeover of controlling interests in an international chain hotel.
• Cross border merger between major banks operating in EU member states.
• Merger of two Cyprus listed public companies controlling a substantial part of investment services in Cyprus.
• Joint venture of EU insurance companies.
• Acquisition of one of the leading steel producers in the world operating in the CIS of a €3 billion value.

Building/Engineering/Infrastructure Projects

• The firm represents the concession holders for the design, construction, management and operation of the two Cyprus international airports under a 25-year concession by the Government of Cyprus.
• Legal advisors to consortium recently declared preferred bidder for the first highway project under BOT terms, involving a long term concession.
• Legal advisors to international consortium recently declared preferred bidder for a large port/marina project in the country under a long term concession.
• Legal advisors to the contractors of the most prestigious residential/commercial development in Cyprus.

Energy

• Acting as permanent legal advisor to the main electricity provider on all regulatory, competition and environmental matters.
• Legal advisors for the LNG Project for Cyprus.
• Acting for a number of international investment groups in renewable energy projects (wind farms and solar thermal power plants) in Cyprus, as well as desalination projects.

Taxation

• Advising on Cyprus corporate tax implications for a number of international groups using Cyprus companies in the course of international restructurings.
• Obtaining tax rulings in respect to the applicability of tax exemptions in complicated international tax transactions.
• Advising on corporate governance issues in the course of establishing tax substance for international conglomerates.
• Representing clients to the tax authorities in the course of tax disputes.

Memberships:

International Bar Association
Cyprus Bar Association
Chartered Institute of Arbitrators
Institute of Chartered Accountants in England and Wales
Institute of Certified Public Accountants of Cyprus
Society of Trust and Estate Practitioners (STEP)
Institute of Directors

International Links

The firm is a member of the Terralex, Meritas and Legalink global legal networks. It is also a member of the European Energy Law Group (ELG). The combined strength of its local offices and the global networks with which it associates provide the firm with access to extensive resources in meeting its clients' needs in an efficient and effective manner.


 

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