In today’s competitive job market, attracting and retaining top talent has become more challenging than ever. One of the crucial elements that can significantly influence an organization’s ability to recruit and keep skilled professionals is its compensation strategy. Salary benchmarking, the process of comparing a company’s compensation practices against those of its competitors or peers, has emerged as an essential tool for designing fair, competitive, and effective remuneration packages. This article explores why salary benchmarking is important and how it can positively impact businesses.

We are thrilled to announce that India Business Law Journal (IBLJ) has for the 5th consecutive year identified Elias Neocleous & Co LLC as a leading foreign law firm for India-related work – the only firm in Cyprus to receive this distinguished accolade.

Deciding to change jobs requires thoughtful reflection and self-assessment. Career advancement is very important for your professional growth and should therefore be taken into consideration and never be ignored. The unhappiness you experience with your career when seeing no professional growth can have an impact on all areas of your life, from your health to your advancement opportunities. By knowing when the right time is to leave your job, you could obtain countless new opportunities where you are challenged regularly and do have chances for advancement in growth.

We are delighted to announce that for the 5th consecutive year, both the Elias Neocleous & Co LLC (‘ENC’) Private Client department, and Head of Department Elias Neocleous, have been listed in the ‘Band 1’ category of the Chambers High Net Worth Guide 2023 (‘HNW’).

The tourism ties between Cyprus and China, the world’s most populous country, took centre stage at the “China-Cyprus Tourism Promotion Webinar”, which was held earlier this week.

This article is an update to our earlier newsletter entitled Cyprus Tax Updates: Personal Income Tax Returns (TD1) deadline extended.

Cyprus aims to solve its energy storage problem within the next 18 to 24 months, so that the energy generated from renewables doesn’t go to waste, the energy minister has said.

Tourist arrivals in Cyprus experienced a significant increase of 22.7 per cent in June 2023 compared to the same period last year, although they remained 10.6 per cent lower than the record-breaking arrivals recorded in June 2018.

Positive news is expected from the findings of the third drill in the Aphrodite natural gas field in Cyprus’ exclusive economic zone (EEZ), to test the quality and quantity of the gas, Energy Minister George Papanastasiou has said.

The tax break scheme for attracting foreign high earners and bringing in qualified professionals to sectors such as IT has been a success, said the permanent secretary at the finance ministry, Giorgos Panteli.