Michalis Economides studied at Queen Mary University of London and University College London (UCL) before becoming a Barrister-at-Law from Lincoln’s Inn.

As he tells GOLD, the idea of founding his own law firm began to take shape during his legal studies.

“When I was in the UK, I had the privilege to work in a major law firm, handling various arbitrary, corporate and court cases. Through my interactions with fellow professionals and my experience of operating in that environment, I realized that the legal profession could fulfil me and give me a solid purpose: offering advice and services to business and individuals, assisting in dispute resolution and providing solutions to personal or business problems”.

Michalis Economides decided to follow his instincts regarding the profession, and as he gave more thought to what he could do to contribute to any changes and improvements, he moved a step further:

“I realized that, to make the desired changes, I needed to have my own law firm, and that is what led to the formation of Chambersfield Economides Kranos.”

Seven years after its establishment, Chambersfield Economides Kranos has a physical presence in nine countries.

Its experienced team of lawyers undertakes cases that fall within the scope of litigation and arbitration, corporate and commercial law, admiralty and shipping, banking and finance, competition law, criminal law, debt recovery, employment law, energy law, European law, family law, immigration law, tenancy issues, intellectual Property law, internet business law, real estate and tax law.

Meanwhile, the firm’s sister company, GFA Trust, provides corporate, fiduciary and commercial services in more than 21 jurisdictions.

“The uniqueness of Chambersfield Economides Kranos mainly relies on the composition of its team,” says the founder. “Our team consists of experienced, determined, highly educated and knowledgeable professionals sharing an unparalleled passion for their profession. They embrace the firm’s vision and recognize that each case is important and unique, irrespective of the client’s status. Consequently, we personalize our recommendations and solutions to enhance the materialization of each client’s goal”.

Of course, the journey has not been easy, given that the firm was founded at what some might consider the most difficult time in the country’s recent history: April 2013.

“If I could highlight two of the most crucial challenges we have faced, I would have to mention the 2013 banking crisis, during which only essential business transactions were taking place in Cyprus, and, of course, this year’s coronavirus pandemic, which has practically stopped the world and changed global business thinking. Both of these unprecedented crises were very stressful and demanded that we implemented a thorough, open-minded and groundbreaking way of thinking in order to deal with them successfully”.

In addition to those two major crises, law firms face other significant challenges: “I believe that the legal sector needs to enter the digital era dynamically and embrace it by simplifying and speeding up all its procedures with the aim of improving communication among all the involved parties,” says Michalis Economides.

“The last decade has given us solid proof that our generation must always be alert and have a Plan B for handling crises. Nowadays, due to digitalization, there are no limits or restrictions on the flow of information, but this means that a crisis can occur at any time, spreading like wildfire and affecting national and international markets alike. So, preparation, fast response and participation in the digitalization system is essential if firms are to continue their business operations.”

The goal of the firm is to further expand its operations in the international market, aiming to offer clients comprehensive international services with a local touch.

At the same time, Chambersfield Economides Kranos will continue to implement its customer-centric approach, as it cherishes and strengthens customer relationships and develops its business operations.

“Undeniably, clients want law firms that not only offer them high-calibre legal and corporate services but are partners in this relationship, complying with the notions of loyalty, trust, professionalism, personalisation, respect and understanding,” says Michalis Economides.

“Chambersfield Economides Kranos is a law firm that prioritizes its clients’ needs and personalizes the proposed solutions in such a way that they yield exceptional results in each case or project.”

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The group includes the internationally recognized Law Firm Chambersfield Economides Kranos and GFA Trust, provider of a comprehensive range of corporate services as well as services for the formation of trusts.

The multi-awarded international law firm Chambersfield Economides Kranos was founded by Michalis Economides, a distinguished approved Barrister of the Cyprus Bar Association, as well as Barrister of the United Kingdom and Wales.
Chambersfield Economides Kranos has physical presence in more than nine jurisdictions and undertakes a wide range of complex, integrated, legal, corporate and consulting services on an international level.

Chambersfield Economides Kranos focuses on providing legal and advisory services in civil, political, maritime, commercial, banking, corporate, labor, energy, European, immigration, family, criminal law, liquidation as well as issues resolution of commercial disputes and mediation.

The legal department of Chambersfield Economides Kranos focuses on the understanding of business activity that receives either positive or negative influences from the various changes and fluctuations that occur on the domestic and international markets from the political, economical, social, technological, environmental and legal framework. It implements strategic approaches and develops methodologies that focus primarily on risk mitigation and situation management as they arise from the microeconomic and macroeconomic environment in which each legal entity operates.

Also, the immigration department specializes in naturalization through investment and immigration services. With extensive experience in the field of naturalization through investment, as well as immigration services, it provides solutions tailored made for every individual’s requirements and needs and are fully compliant with the legal provisions of the countries in which they operate.

Additionally, Chambersfield Economides Kranos provides legal and corporate advice with a wide range of specialized services for individuals, legal entities and financial institutions which need an impartial, professional, legal and advisory perspective.

With the company focusing on continually satisfying the customer, Chambersfield Economides Kranos aims to create long-lasting relationships based on the principles of trust, ethos, mutual respect, transparency and understanding.

Simultaneously, the subsidiary of Chambersfield Economides Kranos, GFA Trust, provides a comprehensive range of corporate and fiduciary services in more than twenty-one jurisdictions, especially targeting business development and worldwide expansion.

Among other things, GFA Trust provides services such as company formation and management, nominee & fiduciary services, trusts, re-domicile, mergers and acquisitions, escrow services, bank accounts opening, fund formation and reviewing contracts and agreements.
GFA Trust’s broader activities cover a wide range of services that fall within the international business, financial, administrative, banking and corporate sectors.

CEO’s Story
Michalis Economides is a Legal Advocate and CEO of Chambersfield Economides Kranos and GFA Group. Additionally, he is a licensed Attorney-at-Law of the Cyprus Bar Association and Barrister of the United Kingdom and Wales, as well as Licensed Insolvency Officer of Cyprus, Certified Regulator of the Cyprus Civil and Commercial Registry and member of The Chartered Institute of Arbitrators of England and Wales.

Michalis Economides, as well as the GFA Group’s companies, have won multiple awards and recognitions, with the most recent Michalis international title as “CYPRUS GAMECHANGER OF THE YEAR” by the ACQ5 Law Awards, Chambersfield Economides Kranos honorary award and recognition for its corporate services as well as Michalis Economides honorary title as proposed lawyer in Cyprus by the Global Law Experts Network, Honorary Recognition for Chambersfield Economides Kranos by Advisory Excellence with the award of the «Full Service Law Expert Firm in Cyprus 2018», Leading Firm 2018 by «Legal500» and Chambersfield Economides Kranos’ award from International Advisory Experts as a «Full Service Law Firm in Cyprus» for the year 2018.

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Ακολουθεί Ελληνική Μετάφραση

Undoubtedly, during the last six months of 2015 and beginning of 2016 the Cyprus economy has encountered a significant rate of development.

This consistent growth is due to the motivational investment, citizenship and permanent residence investment programs that the Republic of Cyprus pursued, which assisted the island’s economy overall to progressively recover.

Mr Michalis Economides, of Chambersfield Economides Kranos, a leading law firm, states in this article that the confidence of foreign investors in Cyprus economy seems to be rebuilting due to the upgrading of Cypriot banks and the general Cyprus economy from foreign credit institutions and rating agencies.

Consequently, it is an absolute necessity to retain this trust at all levels, in order to sustain and increase even more the percentage (%) growth rate.  Subsequently, a preferable method of sustainability is for corporate entities to engage in an international approach that shall enhance exports of products and services, which shall substantially increase the Net Export (NX) parameter of the Gross Domestic Product (GDP).

Η Ανάπτυξη της Κυπριακής Οικονομίας

Άρθρο κ. Μιχάλη Οικονομίδη, CEO της Διεθνούς Δικηγορικής Εταιρίας Economides Kranos Chambersfield στο Capital.com.cy

Είναι γεγονός ότι κατά το τελευταίο εξάμηνο του 2015 η Κυπριακή οικονομία έχει γνωρίσει μια σημαντική ανάπτυξη. Τα προβλήματα τα οποία κλήθηκε να αντιμετωπίσει το 2013 και για μια συνεχή περίοδο περίπου δύο χρόνων, φαίνεται ότι με σοβαρότητα και σταθερούς ρυθμούς αντιμετωπίζονται.

Μετά από σοβαρές δυσκολίες στην οικονομία, αλλά κυριότερα και στους πολίτες της Κύπρου, παρατηρείται πλέον ότι το τελευταίο διάστημα έχει σημειωθεί ένας σημαντικός ρυθμός ανάπτυξης.

Σημαντικός λόγος για αυτή την ανάπτυξη ήταν τα κίνητρα τα οποία είχαν δοθεί από την Κυπριακή Δημοκρατία και τα οποία βοήθησαν την κυπριακή οικονομία, αλλά φυσικά και οι ίδιες θυσίες και δυσκολίες της κοινωνίας.

Το κλίμα εμπιστοσύνης από ξένους επενδυτές προς την Κυπριακή οικονομία φαίνεται να ανοικοδομείται, ως αποτέλεσμα της συνεχούς και επαναλαμβανόμενης αναβάθμισης την οποία δέχονται οι κυπριακές τράπεζες, αλλά και η κυπριακή οικονομία γενικότερα από τα ξένα
πιστωτικά ιδρύματα και οίκους αξιολόγησης.

Ένεκα των σημαντικών επενδύσεων οι οποίες έχουν λάβει χώρα εντός της Δημοκρατίας, η Κυπριακή οικονομία έχει εισέλθει σε μια επιταχυνόμενη τροχιά ανάπτυξης.

Οι σημαντικές αυτές επενδύσεις αποτέλεσαν και αποτελούν την κινητήρια δύναμη της οικονομίας, η οποία φαίνεται να εισέρχεται πλέον σε μια σημαντική τροχιά ανάπτυξης που οφείλεται κατά κύριο λόγο σε επενδύσεις τόσο από την εγχώρια αγορά αλλά και από το εξωτερικό.

Αξίζει να σημειωθεί όμως ότι αυτοί οι ρυθμοί δεν πρόκειται να θυμίσουν παλιές εποχές με παραφουσκωμένες τιμές ακινήτων και άλλων υπηρεσιών. Φυσικά ούτε και θα πρέπει να επαναλάβουμε “φούσκες” του παρελθόντος οι οποίες πάντα δυστυχώς μόνο καταστροφικά
αποτελέσματα μπορούν να επιφέρουν. Η ορθή ανάπτυξη της οικονομίας θα πρέπει να βασίζεται σε υγιή, σοβαρή και σταδιακή άνοδο.

Ανάμεσα σε άλλα, η παραχώρηση δικαιώματος εξασφάλισης Κυπριακής υπηκοότητας δια μέσω του Κυπριακού επενδυτικού προγράμματος έχει διαφανεί ότι λειτούργησε ευεργετικά και βοήθησε την Κυπριακή οικονομία τόσο στον δημόσιο όσο και στον ιδιωτικό τομέα.

Αξιόλογο προς σημείωση είναι ότι το τελευταίο διάστημα έχει σημειωθεί σημαντική εισροή και εγγραφή ξένων επενδυτικών ταμείων στην Κύπρο, τα οποία έχουν επιλέξει την Κυπριακή Δημοκρατία ως έδρα από την οποία θα εκτελούν και θα διαβιβάζουν τις οποιεσδήποτε επενδύσεις τους τόσο στην Κύπρο αλλά και στο εξωτερικό.

Είναι σημαντικό επίσης να τονιστεί ότι οι κυπριακές επιχειρήσεις αλλά και όσοι δραστηριοποιούνται σε διάφορους επαγγελματικούς τομείς στην Κύπρο έχουν πλέον αρχίσει να εργάζονται με ζήλο, εργατικότητα και περισσότερο επαγγελματισμό, κάτι το οποίο στο παρελθόν αποτελούσε σε κάποιες περιπτώσεις την εξαίρεση.

Αξιοσημείωτοείναι το γεγονός ότι οι κυπριακές επιχειρήσεις και κατά συνεπεία, οι Κύπριοι επιχειρηματίες και παροχείς υπηρεσιών δραστηριοποιούνται σε επίπεδα υψηλού επαγγελματισμού, εντός των πλαισίων ενός παγκόσμιου ανταγωνισμού. Θα πρέπει να αποτελεί κανόνα στον κάθε ένα ξεχωριστά, η εφαρμογή υψηλών επιπέδων επαγγελματισμού και σοβαρότητας τα οποία θα δώσουν το έναυσμα της ένταξης της Κυπριακής οικονομίας σε υψηλές βαθμίδες όπου και της αξίζει.

Οι Κυπριακές επιχειρήσεις θα πρέπει με τη σειρά τους να δώσουν ιδιαίτερη έμφαση στην εγχώρια παραγωγή αλλά και στις εξαγωγές. Παράλληλα, εξίσου σημαντικό είναι όπως οι παροχείς υπηρεσιών με τη σειρά τους – λογιστικά, ελεγκτικά γραφεία, εταιρείες παροχής εταιρικών υπηρεσιών και δικηγορικά γραφεία – στρέψουν το ενδιαφέρον τους και εκτός της Κύπρου με την προοπτική παροχής των υπηρεσιών τους και στο εξωτερικό, αφού το επίπεδο επαγγελματισμού τους δεν έχει τίποτα υποδεέστερο από ανάλογες επιχειρήσεις του εξωτερικού.

Ο Μιχάλης Οικονομίδης είναι Δικηγόρος, CEO της Δικηγορικής Εταιρείας Chambersfield Economides Kranos και CEO της Διεθνούς Εταιρείας Εταιρικών Υπηρεσιών GFA Trust.

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