A Different Kind of Law Firm Personalised Legal Services for Doing Business in Cyprus

“We are more than just a traditional law firm, we think differently, we are innovative, problem solvers but most of all we are great listeners”, Managing Director Andreas Mylonas says. “What differentiates us from other firms is that: we provide personalised services for high-end clients; lawyers are exclusively the ones who are dealing with customer’s requests; and we deliver the services in a short time, under tight deadlines”, he points out, adding that “our law firm’s culture is based on a “can-do” attitude, whilst constantly creating value and give our clients a competitive advantage”.

The law firm’s clients mainly come from abroad, especially from Central and Eastern Europe, Russia, Ukraine and other CIS countries, the Middle East, Greece and Cyprus; they are entities and individuals interested in moving to or doing business in and via Cyprus. Foreign companies benefit from the fact that doing business in Cyprus is also a convenient way to enter the vast market of the European Union.

AMG Mylonas & Associates LLC has been highly rated by the world’s leading legal directories, such as the Legal 500, and has received numerous awards, including ‘Renewable Energy Sector Law firm of the Year 2017 in Cyprus’, awarded by Corporate INTL; ‘Corporate law firm of the year in Cyprus’, awarded by ACQ5; ‘Best Boutique Business Law Firm of the Year in Cyprus’, awarded by the European Excellence Awards, etc. Furthermore, Managing Director Andreas Mylonas has also been distinguished internationally, receiving the award ‘Tax Lawyer of the Year in Cyprus’, awarded by the Finance Monthly Tax Awards.

Explaining the company’s involvement in the sector of renewable energy, which goes back to 2013 when the first tenders on large solar parks took place in Cyprus, the Managing Director emphasises the company’s competence to assist anyone who is looking to invest in the high potential of Cyprus’ renewable energy sector. “Renewable energy in the island has already reached a very high level, close to meeting the EU targets of 2020, but there is further room for improvement when it comes to incentives, permissions, legal frameworks and the overall energy infrastructure”, he says.

Reflecting on the competition in their sector, Andreas Mylonas points out that it is “always positive as it provides incentives for growth and development. The demand for legal services whether from local or international clients is immense, and there is enough business for everyone. To offer a service is not difficult, but to provide tailor-made services in a short time for all of the different clients is a challenging task”.

“Although the founding of the law firm occurred during the financial crisis in Cyprus, since then, the entire society and its business sector have learned how to move forward and improve the image of the country, making its economy stronger and more resilient than ever. As a stable and neutral country, coupled with an EU and OECD approved tax system and one of the lowest corporate tax rates (12,5%) in Europe, Cyprus has become one of the most attractive international business centres in the region. Cyprus is a cost–effective jurisdiction with solid legal regulatory providing safety and Tax breaks for HNWIs”, the Managing Director highlights.

As members of the Cyprus BAR Association and other public and private organisations, AMG Mylonas & Associates LLC is working closely with the public authorities on upholding the high standards of its profession to the benefit of its clients and society as a whole.

“Cyprus’s profile as a financial services centre attracts foreign investment and is becoming a regional base for international corporation’s headquarters. Cyprus’ comparative advantages are gaining in strength, especially with the global changes in regulation and the increasing demand from companies to create business substance”, Andreas Mylonas explains, adding that Cyprus has one of the most modern and favourable trust regimes in Europe and with an updated legal framework, the Cyprus International Trust has become an instrument of choice for wealth protection and tax planning. “Cyprus is also attracting wealthy individuals wishing to relocate to the island and take advantage of favourable EU Citizenship by investment”, he says.

“I believe that our sector will keep growing in the right direction. All of the law firms have a duty to treat their clients professionally and honestly, propelling the country’s goal of becoming an international business hub”, Andreas Mylonas concludes.