Member Spotlight: PCV, Cyprus

Continuing with Globalaw’s 30th-anniversary celebration, the next member firm spotlight is Pelaghias, Christodoulou, Vrachas LLC from Cyprus. Over the last few weeks, I’ve had the pleasure of talking to managing partner Alexandra Pelaghias-Christodoulou.

As Alexandra started talking, it was palpable that the Firm is surrounded by the dense and rich history of Cyprus. The saying, “Scratch the soil anywhere in Cyprus, and you will find traces of its magnificent past”, is not an exaggeration. The island’s history is not confined to the ancient tombs or the oldest wine label; it’s entrenched in one of the most established and oldest law firms in Cyprus – Pelaghias. Alexandra proudly explained that the Firm celebrated their 100th anniversary in 2020. For over 100 years, Pelaghias has committed to build lasting relationships, both with their clients and firm members.

Alexandra explained that since they are not a big firm, they can strive to provide personal service to each client. As opposed to many larger firms, clients of Pelaghias not only know who their lawyer is but can speak to that lawyer anytime they need assistance. Their motto is personal service, and caring for their clients is paramount. A recent example? The firm advised a foreign tech company active in the power and telecommunications sector with revenues exceeding 1 billion euros. The company has physically relocated its headquarters to Cyprus, and Pelaghias assisted with its corporate restructuring and reorganization.

And it’s not surprising to find a company moving there. Cyprus is the third largest island in the Mediterranean and is between Europe and Eurasia, and Northern Africa and the Middle East. Its strategic position has led it to be among the most prosperous and educated countries in the Mediterranean region. In fact, it hosts several recognized universities that draw students from all over the world. Cyprus also has a friendly business environment. Pelaghias can help those who want to invest in the MENA region (Middle East, North Africa), since the Firm has strong relations with the region that partly operates under Sharia law. An increasing number of individuals are using Cyprus to invest in other jurisdictions that do not operate under a common law system.

As we neared the end of our time, I asked Alexandra how the Firm has pivoted to the changing technological innovations in the 21st century, especially Artificial Intelligence. Alexandra quickly responded that Pelaghias is becoming a regional hub for technology companies. They host the Reflect Festival, the largest Tech & Entrepreneurship event in Limassol. It has thousands of attendees per year – which is no simple feat for an island of 1,000,000. Alexandra also spearheaded the technology and AI department to ensure that the Firm stays relevant in its use of technology and AI to provide clients with excellent, personalized legal services. However, the increased emphasis on technology and AI results in organizations needing to deploy security protections – and Pelaghias has done just that. The firm will be certified by June with the following ISO modules:

• ISO 90001:2015 = Quality Management Systems (QMS)
• ISO 45001:2018 = Occupational Health & Safety System (OH&S)
• ISO 14001:2015 = Environmental Management System (EMS)
• ISO 27001:2022 = Information Security Management System (ISMS)

It is a great accomplishment for Pelaghias and rare for law firms to earn ISO certifications, another reason why Pelaghias is among the leading firms in their region.

The adage “the more things change, the more they stay the same” holds true for Pelaghias, a Cyprus law firm celebrating a 100-year tradition. They have and continue to assist companies and individuals with aviation, banking & finance, blockchain & technology, corporate and commercial, litigation, taxation, and much more. They’ve pivoted in the wake of the COVID-19 pandemic, the rise of artificial intelligence, and the security awareness movement, while staying true to the values engrained in the firm’s leadership since it was founded in 1920 by John G. Pelaghias.

Visit www.pelaghiaslaw.com/ for more information.