A.G. Paphitis & Co LLC

A.G. Paphitis & Co LLC is a full-service law firm in Cyprus. Providing legal, corporate, financial solutions advisory, tax and immigration services, their client portfolio consists of local and foreign private individuals, international corporations, and multinational corporations. With strong presence in the international market, AGP’d tailor-made advice is expertly woven to make it possible for clients to succeed in their endeavors.

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On May 27, 2020, the Cyprus government announced further stimulus measures to revive the economy, impacted by the COVID-19 crisis. After a cabinet meeting, President Nicos Anastasiades, in a televised address, announced major input from the European Investment Bank (EIB), in the form of loans worth €1.7 billion, along with interest rate subsidies for businesses and housing loans. The revised package will inject more than €1.2 billion into the economy, worth about 6% of the…
While the COVID-19 pandemic has caused global economic turmoil, Cyprus is also facing challenges owing to the global interconnectedness of its economy. The Financial Mirror reported that the International Monetary Fund’s April 2020 World Economic Outlook estimated that Cyprus’s gross domestic product would fall by 6.5% in 2020, followed by a sharp rebound in 2021. The tourism industry will be particularly affected due to booking cancellations, revenue reductions, increased costs and liquidity pressures. Cyprus-based hoteliers…
Σε αυτή τη δοκιμασία την οποία περνά η χώρα, η οποία δεν είναι μόνο υγειονομική αλλά και οικονομική, είχαμε από την αρχή διαβεβαιώσει ότι η Κυβέρνηση θα σταθεί δίπλα στους πολίτες, τους εργαζομένους και τις επιχειρήσεις, αναφέρει ο κ. Πετρίδης, Υπουργός Οικονομικών. Δράσαμε έγκαιρα και άμεσα, και ήδη βρίσκεται εν εξελίξει ένα μεγάλο πακέτο στήριξης της οικονομίας μας, το οποίο περιλαμβάνει πέραν των 60 μέτρων και το οποίο κοστολογείται κοντά στα 1.2 δις ευρώ. Το πακέτο…
Several times we came across shareholder(s) disputes with the directors regarding the day-to-day management of a Cyprus company or the blocking of a decision of a Cyprus company by its director(s). Such disputes can be solved through the provisions of the Cyprus Companies Law, Cap.113, (“the Law”) and especially section 178 of the Law as amended. Section 178(1) of the Law states: “A company may by ordinary resolution remove a director before the expiration of…
The Covid-19 crisis has not only led to serious implications for human lives, it is significantly impacting businesses and economies. As the outbreak continues to escalate, companies are faced with immense challenges of ensuring the well-being of their employees, while also ensuring business continuity. During country-wide lockdowns, travel restrictions and social distancing measures, manufacturing and sales figures have taken a severe hit. Massive disruptions to supply chains have debilitated business operations. There has been a…
As the coronavirus pandemic is currently affecting the economies of a number of countries all over the world, the Cypriot Government has decided to process the pending naturalisation applications via the Cyprus Investment Programme quicker in order to encourage foreign investments into the country and accordingly to increase liquidity into the market. The Cyprus Investment Programme requires 2 million euros if the investment is only for residential real estate, which from that particular amount at…
We are elated to announce that our firm has been ranked in and recommended by the Legal500 EMEA 2020 guide – for the 8th year in a row – in all four major areas of our legal practice. These particular rankings actually cover a firm’s performance over the duration of a year which also includes direct contact with the firm’s clients as well as other participants. The areas of expertise that we have been ranked…
Dear all, Following the current developments in relation to the rapid growth of COVID-19 in Cyprus, the recommendations of the Ministry of Health as well as the measures taken by the Government of the Republic of Cyprus on how to keep ourselves and staff safe, we would like to inform you that, our offices will be operating under normal office hours with some employees working in the office and some will be working from home…
Dear all, Following the current developments in relation to the rapid growth of COVID-19 in Cyprus, the recommendations of the Ministry of Health as well as the measures taken by the Government of the Republic of Cyprus on how to keep ourselves and staff safe, we would like to inform you that, our offices will be operating under normal office hours with some employees working in the office and some will be working from home…
In Cyprus, trusts are governed by a specific legal framework which constitutes a combination of English and Cyprus law, the Principles of Equity and Statute Law (the Trustees Law of Cyprus, Cap 193), which is modelled on the English Trustee Act 1925; and the Cyprus International Trusts Law (Law 69(I)/1992, as amended by Laws 20(I)/2012 and 98(I)/2013). The International Trusts Law is one of the world’s most attractive legal frameworks as it builds on the…