Cyprus Securities and Exchange Commission (CySEC) Investment License
Desfran provides a turnkey solution for financial licensing. To facilitate your process of applying for a Cyprus Investment license, we will:
- Promote your application to the Cyprus regulators
- Assist with answering questions regarding the application process and requirements
- Draft and review application documents and questionnaires
- Follow up with the application and ensure the submission of additional information required by the related departments in Cyprus
The following Investment Services and activities are regulated and subject to granting of a licence prior to commence business. A Cyprus Investment Firm (CIF) has to apply for at least one of the below services:
For a Cyprus Investment Firm (CIF) that offers or provides the following services, the minimum paid-up capital is EUR 730.000:
For a Cyprus Investment Firm (CIF) that holds clients’ assets and/or financial instruments the minimum paid-up capital is EUR 125.000. The following services may be offered or provided:
For a Cyprus Investment Firm (CIF) that offers or provides the above mentioned services without holding clients’ assets and/or financial instruments, the minimum paid-up capital requirement is EUR 50.000.
The head office of a Cyprus Investment Firm (CIF) must be located in the Republic of Cyprus. It must be fully staffed, and employed persons performing any of the licenced investment services must be holder of a respective certificate issued by the Ministry of Finance after successful examination.
Desfran shall seek to understand your business activities and goals to assist with your business plan drafting that best encompasses this whilst still being compliant with the prevailing regulations. Desfran shall also advise on the possible questions that might be posed by the regulator.
The Board of Directors of a Cyprus Investment Firm (CIF) must consist of at least two executive directors and two independent non-executive directors.
The executive directors that effectively manage the Cyprus Investment Firm (CIF) must provide necessary knowledge, experience and integrity, satisfying CySEC prior to the granting of the licence. The directors of the company must dedicate appropriate time for the execution of their duties, be of good reputation and must have the knowledge, experience and capabilities to manage a Cyprus Investment Firm (CIF) and to clearly understand its activities and the risks of the Cyprus Investment Firm (CIF).
The management of a Cyprus Investment Firm (CIF) must be undertaken of at least two persons – they must be of good reputation and experiences and acknowledged enough to ensure professional, safe and prudent management of the company.
Due Diligence is necessary to formally verify the identity of all clients of the firm. The following documents are required to conduct due diligence for the license application:
Please note for a company listed on a major stock exchange or subject to regulatory supervision in a country with equivalent AML regulations to Cyprus, evidence of such listing or regulation will suffice in place of the above information. Where the directors to be appointed are employees of such a listed or regulated company, a certified passport copy and confirmation of employment (to include position) will suffice.
— Forecasted development of the financial sizes in the balance sheet, the statement of profit and loss and the cash flow statement for the first two financial years. These projections must be based on three alternative scenarios (pessimistic, average, and optimistic). Provide an analytical account of all the assumptions and parameters taken into consideration.
— Sources of income (analytically per type of investment and ancillary service, investment activity and other activity).
— Markets in which the applicant intends on operating in.
— Forecasted composition of the applicant’s customers (e.g. retail, professional, eligible counterparties).
— Whether the applicant intends on having clients bringing about more than 10% of its total revenue.
—Certificate of good standing (legal person)—of the direct shareholder of the applicant
—Certified true copies of identification cards or passports and certificates on non-bankruptcy and criminal record of the natural persons
—Ultimate beneficial shareholders
Bank Account Opening
The Cyprus Securities and Exchange Commission (CySEC) is the independent public supervisory Authority responsible for the supervision of the investment services market, transactions in transferable securities carried out in the Republic of Cyprus and the collective investment and asset management sector. It also supervises the firms offering administrative services which do not fall under the supervision of ICPAC and the Cyprus Bar Association.
The vision of the CySEC is to establish the Cyprus securities market as one of the safest, most reliable and attractive destinations for investment.
The mission of the CySEC is to exercise effective supervision to ensure investor protection and the healthy development of the securities market.
Desfran assists with the complete licensing application. Contact us to find out more about the Cyprus company registration and forex license application. Our team of experts will get back to within the next business day.