As Stelios Americanos & Co LLC marks its 15th anniversary, Partner Despina Americanou explains how the law firm has evolved over the years to meet the needs of today’s clientele.
In a recent interview with GOLD magazine, Americanou discusses how the legal landscape in Cyprus has changed over the past 15 years, prompting new thinking when it comes to branches and revenue streams.
Among other things, she also talks about the impact changes in technology have had on the legal sector.
Americanou, in addition, comments on whether or not international clients now approach Cyprus differently, compared to previous years.
How has the legal landscape in Cyprus evolved since Stelios Americanos & Co LLC was founded and how is the firm positioned for the future?
Over the past 15 years, the Cypriot legal landscape has undergone a significant transformation, driven primarily by enhanced regulatory oversight, increased transparency requirements, its integration within the broader EU legal and financial framework, and constant changing geopolitical events.
The 2013 financial crisis, in particular, accelerated reforms in banking, insolvency and corporate governance, requiring law firms to adopt a more specialised and compliance-driven approach. Current challenges are not only due to external factors – they stem also from the inability of the public sector to tackle bureaucracy and foster a more attractive investment environment for Foreign Direct Investment (FDI).
At Stelios Americanos & Co LLC, we have evolved in parallel, investing in expertise, systems and cross-border capabilities. Our forward-looking strategy is focused on maintaining high technical standards, embracing digitalisation and responding proactively to regulatory developments. We aim to constantly improve the way we provide our services by implementing meritocratic procedures, constantly training our staff and continuing to position ourselves as trusted advisors in complex financial and corporate transactions, both locally and internationally.
What new branches or revenue streams has the firm developed in recent years?
Diversification is a must, so the firm has expanded beyond its traditional practice areas into specialised services such as real estate, restructuring and insolvency, financial & investment regulatory, compliance, sanctions advising, GDPR and immigration law. Our litigation team also specialises in medical negligence cases. These new practice areas have, naturally, created new revenue streams.
How have technological changes shaped the firm’s evolution?
Technology has had a transformative impact on the legal profession and our firm has embraced this shift. Digital tools have improved efficiency in document management, due diligence and transaction execution, while also enabling more responsive client communication.
In addition, the increasing use of Artificial Intelligence by clients has created new challenges around accuracy, confidentiality, liability and the need for clear legal oversight in decision-making and document preparation. More broadly, technology has reinforced the need for accuracy and innovation in legal services, which we continue to prioritise. The digital era is undoubtedly here to stay but, in my view, that makes it even more important not to lose sight of the fundamentals – the personal approach, trusted relationships and the quality of the advice we deliver.
How have changing compliance standards affected the legal sector in Cyprus?
The evolution of compliance standards, particularly in areas such as anti-money laundering, sanctions and corporate governance, has fundamentally reshaped the legal sector in Cyprus. There is now a greater emphasis on substance, transparency and risk management – and rightly so. Law firms are expected to play a proactive role in ensuring that clients operate within increasingly complex regulatory frameworks. Today’s clients expect legal advisors not only to interpret the law but to anticipate regulatory risks and provide strategic guidance.
Do international clients now approach Cyprus differently, compared to five or ten years ago?
Yes, there has been a notable shift in how international clients engage with Cyprus, which is now viewed as a reliable and well-regulated jurisdiction, with the outdated perception of it being a tax haven no longer reflecting today’s reality. However, while Cyprus remains an attractive jurisdiction due to its strategic location, EU membership and legal/tax framework, clients now adopt a more cautious and substance-driven approach.
There is increased scrutiny around governance, compliance and commercial rationale. International clients seek robust, transparent structures and expect higher levels of legal services, especially when it comes to FDI. As a result, the role of legal advisors has become more demanding and strategic, requiring not only local legal expertise but also a strong understanding of cross-border regulatory environments and market expectations.
A notable recent development in Cyprus is the enactment of the Foreign Direct Investment Screening Law, which came into force on 2 April 2026. It establishes a framework for the screening of foreign investments that may affect national security or public order in the Republic.
(Original photo by TASPHO)
This Special Feature first appeared in the June edition of GOLD magazine. Click here to view it.
