Cyprus law firm Michael Kyprianou & Co LLC has recently set up India desk to help Indian clients set up companies and do business in Cyprus.

The firm has a broad based legal practice based in Cyprus and Greece and the areas of specialization include corporate and commercial law, local and international taxation, banking law, real estate law, admiralty, shipping, insurance law, local and international arbitration and intellectual property.

The Managing Partner Menelaos Kyprianou along with Partner Ilias Tsintavis (pictured) will head the India practice. Right now the India team has three people including the two partners.

Speaking to Bar & Bench Partner Ilias Tsintavis said, “We are very impressed with the quality and level of growth that India has displayed. Specifically, we see India as a country rising very rapidly. We believe that growth of India will be sustainable and India will be one of the most important places in global business in the years to come. Both India & Cyprus share certain historical links which are not always evident. Both were part of the British empire and have almost identical legal systems. Additionally, the two nations share common allies, such as Israel & Russia. We believe these are some of the reasons why these two countries should cooperate and work together, especially in light of the excellent double tax treaty between the two nations.”

The India desk will be primarily involved in corporate and commercial laws, banking and finance laws and tax laws.

Tsintavis added, “We have become aware that we're not permitted to operate in India and this is something we respect. As a result we ended up setting up the India desk as we cannot have a representation office in India. We want to have a team that is aware of the needs of Indian clients, of the Indian legal professionals and accountants. We are really going to see how the India and Cyprus jurisdiction can blend together. We want our India desk to give quick and efficient solutions to the clients.”

The firm has met with prominent Indian law firms but has not entered into any quasi-exclusive or other “best-friend” agreement with any of the law firms in India. Tsintavis told that at the moment they prefer that their services are available to all the clients and they are happy to be open to the entire Indian legal market.

Talking about the size of India team, Tsintavis said, “Hopefully we will increase the size of the team gradually. We are hoping to have minimum three people at all time to ensure that someone is readily available at all times to address any potential query. From thereon we shall reassess what the interest of legal market is in relation to such services”.

The partners of the firm make regular visits to India and participate in seminars and conferences on various topics as part of furthering the local Indian knowledge.

This is one of the first law firms from Cyprus to set up India desk.