Cyprus housing market prices continued on an upward path in the third quarter of 2023, with apartments recording the highest increase.

Despite alterations in interest rates, Cypriot banks have maintained a steady pace in providing loans throughout 2023, exceeding €3 billion in total net new loans by November.

An increasing number of employers are weighing the merits of introducing an occupation pension plan for their employees, as a means for attracting and retaining top talent and achieving workforce satisfaction.

On 20 December 2023, the Council of Ministers issued a new ministerial decree regarding the minimum wage in Cyprus, which became effective on 1st January 2024, and which amended the previous decree of August 31, 2022.

Recent amendments to Article 32 of the Courts of Justice Law, L. 14/1960, which governs the jurisdiction of civil Courts to issue interlocutory orders, introduce radical changes in this field. This includes the notable widening of court jurisdiction in respect of issuing interlocutory orders.

The Cyprus Investment Funds Association (CIFA) this week released a statement expressing an optimistic outlook for 2024, anticipating another favourable year for the investment funds sector in Cyprus, despite any challenges and prevailing uncertainties.

Our firm (ENC) seeks to cultivate a culture where everybody can thrive, together. We aim to facilitate the ongoing development and growth of our talent through cutting-edge development programs, interactive learning, and meaningful work, and are committed to community engagement through multiple CSR activities.

Hermes Airports, which manages and operates Cyprus’ two international airports, on Thursday announced that it recorded a surge in passenger traffic during 2023, tallying over 11.6 million passengers by the end of the year.

Our firm is incredibly proud to announce that for a 5th consecutive year, Elias Neocleous & Co LLC (ENC) has been included in the prestigious GRR100 list released by Global Restructuring Review (GRR) in its 2023 guide to the world’s leading law firms for cross-border restructuring and insolvency matters.

As 2023 draws to a close, we reflect on the year gone by and assess how our firm has consistently upheld its core values: delivering top-tier, strategic legal solutions to global clients, advancing technological innovation, and engaging in community outreach. This timeline is a glimpse of our efforts to embody these values over the last 12 months.