Archive for July, 2016

We are proud to announce that we have been awarded by InterContinental Finance & Law Magazine, the ICFM 500 Leading Lawyer 2016 award.

We are proud to announce that InterContinental Finance & Law Magazine has selected Christodoulos G. Vassiliades & Co LLC as the receiver of the ICFM 500 Leading Lawyer 2016.

InterContinental Finance & Law Magazine is a leading monthly industry publication, carrying clear, brief reports and reviews, highlighting the very best advisors, lawyers, financiers and banks across all Continents, whilst displaying Global transactional activity. The InterContinental Finance & Law Magazine Leading Lawyers 500 is the ultimate list of the top 500 lawyers, barristers and solicitors from across the globe, recognising the value of great lawyers is essential when looking for someone to partner in corporate matters outside of each jurisdiction.

InterContinental Finance & Law Magazine has researched and recognises the finest, due to the qualifications, customer service, depth of knowledge and continued good practice. Each magazine edition and awards supplement provides a 158,500 database with content, to make informed decisions as to what firms they would be wise to bring on board, to contribute in corporate matters, whether of a transactional nature, financing or simply ongoing assistance to ensure their businesses are applying good governance in all areas.

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We pride in the quality of legal and advisory services. We offer comprehensive service packages formulated to address legal, accounting, and tax requirements. We constitute approximately 170 employees comprising of qualified lawyers, legal tax consultants, administrators and paralegals, all dedicated to the provision of legal advice with professionalism, competence and integrity. These professionals set themselves apart in their work through commitment, commercial awareness and attention to detail, which result in the creation of and assistance with high value deals.

2016 proves to be an extremely successful year for us and we have shown once again excellence not only in our expertise but in service.

We pride ourselves in providing excellent service to all our clients and are particularly pleased when our efforts are recognised and rewarded.

Mackrell International – Global Leading Law Firm Network for 2016

Chambers & Partners have ranked Mackrell International, one of the networks we belong to, as a Global Leading Law Firm Network for 2016.

Chambers & Partners is worldwide network running since 1990, and currently covers 185 jurisdictions. Chambers & Partners and its rankings have featured in many notable publications around the world. The organization’s editorial and research team are top-notch when it comes to assessing the world’s businesses. International In-house Counsel, an independent journal, conducted a survey of over 20,000 in-house counsel from around the world. In the survey, they asked lawyers: “If you use directories to identify law firms / individuals, which do you use?”. The results indicated Chambers & Partners receiving 51% of the votes.

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Mackrell International is a truly global network of independent law firms. With 90 members representing a total of 4500 lawyers and attorneys working out of 170 offices in 60 countries, with 40 different languages spoken, each one delivering global expertise and local influence.The network offers strong practice area and sector expertise, and each of the firms within the network are well-connected in their countries and communities, an advantage shared with all their clients. Each member becomes well-connected to each other, through regular networking and ongoing work, by advising a range of clients from the world’s largest multinationals and public sector organisations to owner managed businesses and entrepreneurs.

We are proud to be long a standing member of Mackrell International and are always pleased to see when the Networks efforts and excellence is recognised and rewarded.

Maritime Labour Convention 2006 – Amendments

Following the unanimous adoption by the Special Tripartite Committee of the amendments to the Maritime Labour Convention 2006 (the “Convention”), the International Labour Conference has approved the adoption of the amendments to the Convention on their 105th session in Geneva.

 

Harassment and bullying of seafarers

The first amendment concerns Regulation 4.3 of the Convention in an attempt to tackle issues of shipboard harassment and bullying of seafarers.

The International Chamber of Shipping (the “ICS”) and the International Transport Workers’ Federation (the “ITF”), having recognized the existence of such problem, have issued a guidance on Eliminating Shipboard Harassment and Bullying highlighting that harassment and bullying of seafarers can have adverse consequences on their productivity and teamwork which ultimately will affect the smooth operation of the vessel. The abovementioned guidance is now mentioned in Regulation 4.3 of the Convention as point of reference.

 

Extension of maritime labour certificate validity

The second amendment concerns Regulation 5.1 of the Convention whereby an extension is to be allowed by the Flag State of not more than 5 months regarding the issued maritime labour certificate. Such an extension is to be allowed only when the renewal inspection as has been successfully completed and the new certificate cannot be issued immediately to the ship.

The amendments are to take effect following the lapse of 2 years as of the decision of the Conference should less than 40% of ratifying Members representing no less than 40% of  the world gross tonnage not express their disagreement to the amendments.

As of today there are a total of 77 countries which have ratified the Maritime Labour Convention 2006, which in terms of tonnage corresponds to roughly 91% of the world’s gross vessel tonnage.

We are proud to announce that we have been awarded by International Advisory Experts the International Advisory Experts Award for 2016

We are proud to announce that International Advisory Experts has selected Christodoulos G. Vassiliades & Co LLC as the receiver of the International Advisory Experts Award for 2016.

International Advisory Experts (IAE) is a group of companies of well-established and experienced legal, financial and consulting firms that are dedicated to offering clients with specialist services for their worldwide business needs. IAE currently has experts from over 140 jurisdictions and these firms are forward- thinking practices that are dedicated to offering first class advice so as to resolve any legal, financial and tax issues which may arise.

IAE annual awards pay tribute to firms who have been successful over the past 12 months and are highly acclaimed from their peers. All candidates are examined by IAE’s research team and group members and potential winner shortlists are created for each jurisdiction and practice area. The candidates are then evaluated by an independent panel and winners are chosen and informed. All award winners are endorsed through the subscribers, group and social media members and publications of IAE which are celebrating the award winners.

IAE AWARD

Christodoulos G. Vassiliades & Co LLC advisory services help enhance and transform strategic goals of our clients. It is our firm’s mission statement to create timely solutions tailored to meet all client needs, as well as building and maintaining trusted client relationships. We are offering comprehensive service packages formulated to address legal, accounting, and tax requirements.

2016 proves to be an extremely successful year for us and we have shown once again excellence not only in our expertise but in service.

We pride ourselves in providing excellent service to all our clients and are particularly pleased when our efforts are recognised and rewarded.

 Please see our firm featured in page 9 . Read More

We are proud to announce that we have been awarded by Global Law Experts (GLE) as Banking & Finance Law Firm of the Year in Cyprus – 2016

We are proud to announce that Global Law Experts has selected Christodoulos G. Vassiliades & Co LLC as winner in the Specialist category – Banking & Finance Law Firm of the Year in Cyprus 2016.

GLE is the world’s leading online resource for locating specialist legal advisers for the services required by businesses, investors and individuals, with over 30,000 visits to their website each month.

The GLE awards have been running since 2010. In order to recognise reputable firms and reaffirm their position as a market leader in their field, they were handed out based on each firm’s work and field experts view. Their aim, other than to endorse a firm’s promotional message, is to ensure that being named as a winner provides unrivalled credibility to the winner firm’s expertise.

The 2016 awards have taken many months to prepare, and were decided solely on merit, by the voting by their peers and field experts.

global law

The global trend of deregulation has opened the way to changes which can be visible in consumer demographics and in the preferred channels of banking. As the outlook on the global financial world is becoming more perplexing whereby challenges such as stricter due diligence checks are coming in place, capable and skillful professionals are necessary in order to accommodate the clients in all their financial needs.

Our Banking and Financial experts have a strong and long track record in financial transactions, having dealt with numerous domestic and cross-border cases. We assist clients with financial issues that range from tapping debt market to assisting businesses with restructuring in all banking, project finance, real estate finance and private equity finance matters as well as engage in consultations and prepare all necessary documentation to complete a transaction.

2016 proves to be an extremely successful year for us and we have shown once again excellence not only in our expertise but in service.

We pride ourselves in providing excellent service to all our clients and are particularly pleased when our efforts are recognised and rewarded.

ANNOUNCEMENT – LAUNCH OF ATHENS WEBSITE

We are delighted to announce the launch of our website for our Athens office, Christodoulos G. Vassiliades Law Firm.

Our Athens team is providing services to international as well as domestic clients, whether private individuals or corporate entities, who may wish to invest in different projects in Greece or internationally.

Please visit the website URL: http://www.vassiliades.gr/

and view the relevant announcement: Athens Office Announcement

 

 

 

 

CYPRUS AND INDIA : DOUBLE TAX TREATY NEGOTIATIONS CONCLUDED

Cyprus Ministry of Finance announced that on the 29th of June 2016 the negotiations taking place in New Delhi, between Cyprus and India were successfully completed. The successful completion of the negotiation on several issues of the Cyprus – India Convention for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion will result in the removal of Cyprus from the list of Notified Jurisdictional areas which was included in November 2013.

As it was agreed, the removal of Cyprus from the list of the Notified Jurisdictional areas by the Indian Authorities will be made retrospective with effect as from 1st of November 2015.

As noted, the text that has been agreed between the two negotiating teams of the Contracting States, will contribute to the further development of the trade and economic links between Cyprus and India, as well as with other countries.

Before the amendment of the Double Tax Treaty, the gains from the alienation of shares were taxable in the country where the alienator was resident.

However, the new agreement provides for the taxation of gains for the alienation of shares at source but allows a grandfathering period for investments undertaken or to be undertaken until 1st of April 2017, where the taxation of disposal of such shares at any future date remains with the contracting state of residence of the seller.

The announcement concludes by stating that, “Upgrading and expanding the network of Double Tax Conventions, is of high economic and political importance and aims to further strengthen and attract foreign investment in Cyprus”.

For pdf version: CYPRUS – INDIA