Nicosia, Cyprus

Member Overview

Number of Partners:

3 Partners

2 Associates

2 Lawyers

Main Client Sectors

Corporate and Commercial Law, Shipping & Ship Finance, Financial Services & Investments, Lease Finance Transactions, Banking & Finance, Immigration Law, Energy Law, International Tax Planning, Aviation Law, Mergers and Acquisitions, Trusts, Trademarks, Probate, Real Estate, Employment Law, Intellectual Property Law, Cross Border Transactions, Data Protection and various litigation matters.     

Year of Establishment

Our firm was established in 1920 (and since 1992 under the present name)

Languages Spoken

Greek, English, French, Russian

Professional Indemnity Insurance

The firm maintains Professional Indemnity Insurance


41, Themistocles Dervis Street

Hawaii Nicosia Tower

8th Floor, Off. 806-807

1066 Nicosia



Tel: +357 22764216

Fax: +357 22768277



Pelaghias, Christodoulou, Vrachas l.l.c


Areas of Expertise


Corporate and Commercial

This department handles all types of company and commercial matters for public and private companies, local or offshore, partnerships and individuals.  It acts on company formations, IPOs, reconstructions, takeovers and amalgamations, and is experienced in dealing with the taxation aspects of all such matters.  On the intellectual property front the firm is also experienced in dealing with copyright, patents, trademarks and business names.  It is also experienced in drafting all types of contracts.

Shipping & Ship Finance

Our office represents a considerable percentage of the Cyprus fleet and ship registration.

Ship management companies are finding Cyprus increasingly attractive as a base for managing ships under various flags. These companies offer full management services to ship-owners worldwide and are engaged in chartering, crewing, ship-broking and similar activities. In order to encourage the establishment of ship management companies and other shipping headquarters in Cyprus, the existing legislation grants such companies and their foreign employees various tax advantages and other incentives.

We provide high quality service in this field and ensure that every vessel comply with the requirements of the Cyprus Department of Merchant Shipping and of the other flag administrations.

Alternative Investment Funds

The enactment of the Alternative Investment Funds law in July 2014 has aligned the Cyprus legal and regulatory framework with the latest EU directives on asset management, transparency and investor protection. Following on-going efforts to modernise its fund framework, Cyprus introduced a new law offering more investment structuring possibilities and upgraded rules for the authorisation, on-going operations, transparency requirements and supervision of Cyprus AIFs and regulation on the role and responsibilities of their directors, custodians and external managers.

Our firm has established a specialized Financial and Investment Services Department which offers a “one stop shop” for the setting up, legal support and provision of fund administration services for a Cyprus Alternative Investment Fund.

Immigration Law

We deal with all matters of immigration law. This includes matters such as applications for immigration permits, permanent residence permits, employment permits and visas.

In addition, we can assist on citizen applications supporting non-EU citizens to pursue a Cypriot Passport / Citizenship which will grant them free access to the benefits of the EU.

Cyprus Investment Programme (CIP)

The Cyprus Investment Programme is a process whereby a non-Cypriot citizen may apply for the acquisition of the Cypriot citizenship through naturalization by exception if he makes a certain significant investment the Cyprus economy.

A team at our firm can advise you further on the Cyprus Investment Programme and can assist with the application process.

International Tax Planning and Business Investment

Tax Planning is an important field for overseas clients, which deals with all aspects of business investment in Cyprus, by using the various government incentives for offshore companies based in Cyprus.  This includes work permits and immigration matters.

Cyprus legislation has been reformed after entering the EU in 2004 in order to comply with the European legislation and this proved to be rather advantageous for setting up a base for international business. Having also an abundance of Double Taxation Treaties makes it even easier and more profitable for international entities to establish and commence business in Cyprus.

Our Firm is very experienced in tax planning and we offer advice on complex taxation issues always taking  into consideration our clients individual needs.

Aviation Law

Our Firm is one of the most established Firms in Cyprus in the field of aviation and travel and transport matters. Indeed, as in Cyprus tourism is one of the biggest industries, our Firm has  established the necessary legal expertise and experience to address all issues faced by air carriers, whether commercial airlines or otherwise, aircraft manufacturers, aircraft lessors, airport operators, tour operators and service providers alike.

Indicatively, we render legal advice and assistance in the aviation industry on the following issues: 

-  Regulatory compliance and licensing

-  Corporate issues, Mergers and acquisitions,

-  Aircraft Financing and related securities

-  Operating leases and contractual matters

-  Aircraft registration, deregistration

-  Aircraft Repossession

-  Restructuring and lending

-  Competition, cartels and abuses of dominance

-  State aid issues

-  Environmental issues

-  Infrastructure projects

-  Litigation

-  Service Agreements

-  Legal advice on insurance issues.

While the service we offer to tourism/transport agents include drafting commercial agreement and advising on all related matters.

Banking & Finance

Our firm provides a wide range of legal services in the banking and financing area area and our clientele consists of large commercial and investment banks, finance organizations, investment funds, government institutions and corporations.

We usually deal with:

-  Drafting, reviewing and negotiating loan agreements and other documentation

-  Advice on corporate and tax matters

-  Real estate financing

-  Creating and managing bank accounts for our clients

-  Finance leasing, indemnities and guarantees

-  Debt restructuring & debt recovery claims


Our firm is experienced on tax planning both domestic and international.

We offer advice on corporate, finance and property transactions. Our clients include large banks, corporates and other financial institutions.

Cyprus benefits from its strategic location, its tax system and from the various Double Tax Treaties (DTT’s). In addition, having one of the lowest corporate taxation (12.5%) in the EU Cyprus has become a hardy financial center.

Our services include:

-  asset finance

-  corporate finance

-  insurance

-  investment funds

-  real estate

-  capital markets and financial instruments

Energy Law

We can assist with a range of energy projects in terms of setting up corporate structures as well as sorting out, financing and operational matters.

We offer advice on the legal framework and the commercial legal issues of projects, especially in relation to energy produced by renewable resources (Wind parks, solar energy, biofuel).

Our legal advice covers aspects and activities including:

-  Oil and gas law

-  National and EU energy law

-  Taxation

-  Renewable Energy

Propery and Real Estate

Our Firm offers tailored advice to our clients regarding sale agreements, property acquisitions and general estate administration. We can also assist in real estate investment analysis, landlord and tenant dispute resolution, lettings, building developments agreements, construction contracts and any financing queries.

We offer full support to our clients throughout their endeavours and we custom built contracts in order to facilitate the process with the local Land Registry avoiding time waste and unnecessary effort.

We also advise on the relevant tax issues regarding any transaction relating either commercial property or real estate.

Probate and Trusts

Our Firm is dealing with the individual needs of each client in:

-  drafting Wills

-  setting up trusts

-  administering clients’ estates both onshore and offshore 

We offer tailored advice regarding wills and their execution. We also set up trusts, administer them and administer clients’ estates both onshore and offshore.

The work has a strong tax element and great attention is given to this aspect, including all matters relating to personal financial requirements for private clients and their families.

General Litigation

We try to ensure a broad approach to litigious matters but cases often fall into one of the following categories:


This department conducts marine litigation as well as all types of insurance and ship finance work.


The firm deals with all aspects of separation, divorce and the custody and access to children.  We are particularly concerned with property and financial matters arising out of the separation.


The firm acts both for corporate and individual clients in Supreme and District Court matters.  We concentrate on civil and commercial litigation and we have particular experience in passing off actions, breach of contract and agency and are able to undertake immediate injunctive action to protect our clients’ interests.


This Department undertakes debt collection for local as well as for foreign clients.


This Department deals with disputes between Landlord and Tenant as well as property disputes.


This department handles personal injury claims and we represent various large insurance companies local and international.

Insurance Law

Our firm has vast experience representing insurance companies and we deal extensively with insurance claims in all areas.

Our clients include large insurance companies both domestic and international.

We deal extensively with insurance law matters with a wide experience on:

-  regulatory issues

-  setting up insurance companies

-  drafting of insurance policies

-  claim settlements

-  agency agreements

-  professional liability claims

-  employers’ liability

We also specialise in insurance litigation.

Practice Areas of the Partners


Petros Fr. Vrachas

Petros was admitted as a Member of the Cyprus Bar Association in 1985 and has been practising law ever since. 

Practice Areas:

Corporate and Company Law; Shipping & Ship Finance; Trusts; Trademarks; Probate; Real Estate and various litigation matters.   

Alexandra Pelaghias-Christodoulou

Alexandra was admitted as a Member of the Cyprus Bar Association in 1984 and has been practising law ever since.

Practice Areas:

Corporate and Commercial Law; Shipping & Ship Finance; Financial Services & Investments; Banking & Finance; Immigration Law; Energy Law and International Tax Planning. 

Marios Christoforou

Marios was admitted as a Member of the Cyprus Bar Association in 2009 and has been practising law ever since. 

Practice Areas:

Insurance Law; Tort; Personal Injuries; Banking Law; Contract Law; Employment Law; Commercial Law; Family law; Criminal Law.

Main Contacts


Petros Fr. Vrachas

Alexandra Pelaghias-Christodoulou