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Cyprus: An Island of Resilience

COSTAS TSIRIDES & CO LLC is a full service law firm based in Cyprus. Managing Director Alexandros Tsirides discusses the Cypriot law market and his own firm’s work to maintain its position.

COSTAS TSIRIDES & CO LLC was founded in 1970 and, since then, has been established as one of the most reputable and respected law firms in Cyprus. The firm specialises in civil, commercial and cross-border litigation, among other areas.

In addition the firm has been also heavily involved with international business and has established strong dedicated department dealing exclusively with corporate formation and administration. This department consists of lawyers, paralegals, accountants and clients managers. We have achieved to attract and maintain a strong client’s portfolio including major industrial and financial groups from Central Europe, Russia, Ukraine and other CIS countries and the Middle East.

As such the firm is in a position to also provide its clients with services in the field of arbitration law as may be required. Members of the firm have substantial experience in arbitral proceedings of commercial disputes acting both as counsels and as arbitrators, combining to mean that we have a broad experience in a variety of commercial areas from construction law and cases involving disputes ranging from breach of contract to fraud and breach of fiduciary duty.

Additionally, the firm has experience in advising clients on all aspects of arbitration law and proceedings starting from drafting the necessary arbitration agreements to refer disputes to arbitration, hearing of the matter in dispute and dealing with the enforcement of arbitral awards both local and foreign.

Members of the firm have been appointed as members of the chartered Institute of Arbitrators, and the lawyers of our firm also act as legal advisors and serving as members on the Board of Directors of a substantial number of companies registered and/or carrying business in Cyprus and abroad, both private and public.

Competition law issues are also a key specialism of the company, and as such the firm undertakes representation in all litigation proceedings before the Commission for the Protection of Competition. Our firm also undertakes all relevant proceedings for the approval of takeovers, mergers, and acquisitions. Further, we offer advice on the compliance of distribution and franchise and any other agrements with the provisions of Competition Law. 

Moreover, the firm offers specialist expertise in the field of banking and finance offering services of litigation, drafting and advisory work relating to retail banking and financial services.

COSTAS TSIRIDES & CO LLC is also one of the leading law firms in Cyprus, with a vast experience on Real Estate and Property Law, offering a wide range of services..

One of our primary targets and concerns in dealing with clients has been to respect their bespoke needs, offering a personalised service that is tailored to their specific circumstances. Moreover, the firm is committed to handling each case with respect and discretion, aiming to develop a personal relationship with clients based on mutual trust. This philosophy has always helped us to offer our expertise by understanding the true needs of our clients, and we pride ourselves on the fact that each of our clients, private or commercial, individuals or corporate, receive the same personal service and care. The aforementioned values are fundamental to our approach, and will always remain so.

Our typical clients are currently high-net-worth individuals and international corporations; however, we aim to strengthen our litigation team by recruiting experienced litigation lawyers. Our co-operation with international law firms in handling the Cyprus aspect of international litigation is testament to our strength in the litigation field and has significantly improved our market position. Also, understanding the need and tendency in the business field towards globaliastion and in order to be able to offer our clients the same level of personal service and expertise not only in Cyprus but also around the globe, our firm is a member of Blams Group International (B.G.I.), a worldwide association of independent law firms. Working closely together with our colleugues in B.G.I we can face, together with our clients, any challenges that lie ahead in any jurisdiction around the world.

We believe that our expertise in this area and the positive results we achieve for the clients gives us an advantage in the international litigation field. This is demonstrated by the co-operations we have established with international law firms and large international corporate clients as well as high-net-worth individuals.

As Managing director I have been active in the area of civil and commercial for more than 15 years. I am a member of the Cyprus Bar Association, and was elected as a member of the Administrative Council of the Cyprus Bar Association. In my opinion the use of Cypriot companies in international business structures and the reliable legal system of Cyprus makes Cyprus an attractive place to litigate, and as such I am seeing an increase in commercial and cross-border litigation in Cyprus.

It must of course be stated that in March 2013 Cyprus became the first country in the world to implement bail-in measures for the rescue of its banking sector. However, after the initial shock and uncertainty, economic recovery in Cyprus is expected in record time, despite the challenges faced in the last years. Thanks to the Government's commitment to achieving economic recovery and growth, Cyprus has managed to turn the page, successfully facing the island's economic challenges, and establish itself as a thriving business center. 

In 2016, our head offices will move to and occupy a newly refurbished building in the commercial Centre of Limassol situated in a very preferential location next to the Law courts in the heart of the business center of Limassol. 

Alexandros Tsirides

Managing Director

Tel: 357 25820810

alexandros@tsirides.com

www.tsirides.com

 

 

 

 

 

 

 

 

 

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