Connor Legal Deepens Family Office Expertise Through Seminar on Family Business Growth and Succession
Connor Legal is pleased to announce the successful participation of our Managing Partner, Nicolas Connor Georgiades, in the 14-hour professional development programme “Leading the Family Business for Balanced Growth and Succession,” held on 19–20 March 2025 in Limassol, Cyprus.
This prestigious seminar, led by Professor Panikkos Poutziouris (FFI Fellow and Fellow of the Judge Business School, University of Cambridge), was hosted by the Cyprus Chamber of Commerce & Industry and focused on equipping legal, financial, and governance professionals with practical frameworks for multi-generational family business continuity and the structuring of family offices.
Key Legal Takeaways and How Connor Legal Can Assist
Structuring Family Governance: Constitutions and Shareholder Agreements
Families in business often operate in a complex triad of ownership, management, and family relationships. Connor Legal offers legal drafting and advisory services for:
- Family Constitutions (non-binding charters for shared values, roles, and communication protocols)
- Family Agreements (binding instruments addressing governance, employment rules, leadership succession, and dispute resolution)
- Shareholder Agreements defining:
- Classes of shares (voting vs. non-voting, preference, founder shares)
- Pre-emption rights, tag-along and drag-along clauses
- Vesting schedules and dividend policies
- Transfer restrictions and exit strategies
We ensure these legal frameworks align with Cyprus company law, contract law, and where applicable, EU cross-border regulations.
Classes of Shares & Voting Control
The seminar reinforced the critical importance of using classes of shares to:
- Allocate control among founder, active, and passive family members
- Facilitate inter-generational equity transitions without diluting decision-making
- Implement phantom equity or non-voting equity for family members not active in the business
Connor Legal assists in drafting tailored Articles of Association and issuing bespoke share classes, ensuring flexibility, asset protection, and compliance with Cyprus Companies Law, Cap. 113.
Succession Planning: Ownership & Leadership
Connor Legal is now better equipped to support:
- Legal transfer of shares across generations via trusts, wills, or lifetime gifts
- Creation of “insider/outsider” succession plans—appointing next-gen leaders who may or may not be family members
- Designing multi-tier governance structures, including:
- Board of Directors (including independent members)
- Family Council (representative forum)
- Family Assembly/Shareholders’ Council (strategic advisory body)
These mechanisms are critical in preserving control, ensuring transparency, and preventing disputes.
Asset Protection & Family Office Structuring
The Family Office component of the training explored tools such as:
- Cyprus International Trusts for ring-fencing family wealth
- Private Investment Companies (PICs) and Special Purpose Vehicles (SPVs) for segregating asset types
- Establishing Cyprus holding structures that centralize ownership, management, and control
Connor Legal advises clients on the legal and tax considerations for setting up Virtual Family Offices or Single Family Offices (SFOs) in Cyprus, with bespoke governance manuals, operating protocols, and cross-border compliance.
Employment of Family Members
A strong emphasis was placed on the legal governance of employment within family businesses, including:
- Eligibility criteria (e.g., external experience and academic background)
- Appointment and removal procedures
- Compensation benchmarking and employment contracts compliant with Cyprus Labour Law
- Anti-nepotism policies for in-laws and non-blood relatives
We integrate these policies into employment manuals, internal codes, and family charters, balancing meritocracy with legacy.
The 3-Point Axis Framework for Legal Structuring
The core conceptual model taught in the seminar—the 3-Point Axis (Family, Ownership, Business)—was translated into legal structures, enabling our firm to:
- Perform a legal diagnostic of existing governance tools
- Identify gaps in ownership transparency, succession risk, and fiduciary duty
- Develop compliance-driven legal solutions aligned with family values and commercial strategy
This prestigious seminar, led by Professor Panikkos Poutziouris (FFI Fellow and Fellow of the Judge Business School, University of Cambridge), was hosted by the Cyprus Chamber of Commerce & Industry and focused on equipping legal, financial, and governance professionals with practical frameworks for multi-generational family business continuity and the structuring of family offices.
Cyprus as a Jurisdiction for Family Office Governance
Cyprus offers a unique combination of benefits for family offices:
- Common Law system with EU alignment
- Non-Domiciled tax regime and robust trust legislation
- Confidentiality protections balanced with EU compliance standards (UBO Register, CRS, AML V)
- Access to a sophisticated network of legal, tax, and fiduciary professionals
Connor Legal leverages these jurisdictional advantages to advise high-net-worth families, family businesses, and next-generation leaders on legally sound strategies for wealth preservation and continuity.
Are You Ready to Future-Proof Your Family Enterprise?
Whether your family business is in its first generation or preparing for a transition to the third, Connor Legal is your trusted partner in structuring for longevity, harmony, and growth.
📩 Contact us today at [email protected]
“Only 10% of family businesses survive to the third generation. Our mission is to help you be the exception—by building the legal architecture that sustains value, unity, and vision.”
— Nicolas Connor Georgiades, Managing Partner, Connor Legal
