Cyprus forex license
Cyprus is an attractive country for many types of entrepreneurial activity. Membership in the European Union, favorable geographic location, and flexible taxation allow both residents and foreign citizens to comfortably manage their business. For 20 years, establishments registered in the country can provide brokerage services throughout the European Economic Union.
What is a Cyprus forex license?
Since brokerage services are in the securities market, not every locally registered firm can obtain the important type of license. Investment Firms can become a participant in the Forex market. After obtaining the necessary permission, the organization has the right to manage portfolio investments, engage in investment consulting, receive and execute orders, and work with investments and financial instruments.
The Cyprus forex license opens up many opportunities, including a legal presence in any country with EU membership, increasing the firm’s reputation. A licensed organization is included in the list of official brokers, the so-called “white list”, published on a special resource. Having an official status increases the trust of clients and the credibility of the broker/dealer.
Why should you choose www.fintecharbor.com to obtain a Cyprus forex license?
We will advise you in detail on all aspects of registering an investment firm, we will help you assemble all the required documents in order to acquire a relevant permit from a national regulator. Also, our advisors will help you understand the nuances of tax legislation and conduct business in the international legal field. Our experts will quickly prepare and submit documents to CySec (Commission of Securities and Exchange), as well as register a legal entity.
The process to acquire a forex license
The requirements for participants in the securities market in the EU countries are quite strict. The procedure for obtaining a CySec forex license, including Cyprus company registration, lasts up to 9 months. The stages include the registration of an investment firm to operate in the money market. The CIF must have a real office in the country. It should be managed by at least 4 partners, including 2 resident executive directors and 2 independent non-executive directors.
In order for the Commission to encourage a permit, you need to submit a detailed business plan for three years in advance and deposit the minimum authorized capital into a special bank account (50,000 euros to 730,000 euros, depending on the type of activity). You will have to find local and international auditors and agree with the regulator on operating manuals, risk management, and AML, identify risks, and appoint compliance officers.
It is worth noting that a refusal to obtain a license is possible. Here are the main reasons:
The Commission is also closely examining the track record of key individuals. People without specialized financial education and relevant professional background cannot be admitted to running an investment or brokerage firm.
How much does it cost to get a Cyprus forex license?
The cost of application includes registration of an investment firm, opening an office, and registering a bank account. In addition, you need to pay a minimum share capital of 50,000 to 730,000 euros. To get a detailed offer, please contact us in any way convenient for you.
I really enjoyed working with the guys from Fintecharbor. They really understand Forex licensing and brokerage services. Now we are registering a firm in Cyprus and are very pleased with how everything is going.
Our holding has previously worked in state, and last year we decided to become a player in the securities market. The company’s specialists helped us complete all the important registration procedures, and find local auditors and other specialists.
Yes, this is an absolutely legal type of economic activity for more than two decades. In recent years, legislative amendments have been adopted. Today, the Securities Commission oversees the regulation of the industry.
A large number of such companies suggest that the country has created comfortable conditions for doing business. But this does not mean that anyone can become a broker without much effort. Licensors go through rigorous procedures when issuing permits. The Securities Commission carefully checks the activities of all market participants in order to prevent fraud. Occasionally, messages about license revocation appear. The “white list” is published on government websites.
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