A Cyprus license issued since 2009 by The Cyprus Securities and Exchange Commission (CySEC) is one of the most demanded solutions for forex activities for obvious reasons:
— Authorization in CySEC, gives the company the opportunity to conduct its activities in all EU countries, as well as in Iceland, Norway and Liechtenstein (according to the MiFID Directive).
— Excellent practice of issuing investment and brokerage licenses.
— Unlike other European countries, Cyprus provides a clear and understandable algorithm for obtaining a license.
— The Cyprus regulator provides for clear regulation of the system of control over forex companies.
— The regulatory framework of the Cypriot Commission is constantly being supplemented and developed.
— Cyprus, being a member of the European Union since 2004, is confidently harmonizing with the EU legislation.
— The required authorized capital of Cypriot licenses is absolutely adequate, in contrast to many European jurisdictions.
— Relatively fast and easy procedure for obtaining licenses.
Requirements and procedural aspects of licensing forex brokerage activities in Cyprus
To obtain a license, an applicant must meet the following requirements:
The size of the authorized capital directly depends on the chosen type of activity and amounts to:
For an investment consultant — 50 thousand euros;
For a broker-agent — 125 thousand euros;
For a liquidity provider (market maker) — 725 thousand euros.
In case of failure to comply with CySEC requirements, the license will be refused. The Cyprus Securities and Exchange Commission usually makes its decision within 6 months after receiving the application. Typically, the process takes 4 months.
The process of obtaining a financial license in Cyprus can be roughly divided into 4 stages:
If you are interested in this information and you want to buy or register a company with a financial license from CySEC, contact the lawyers of the Nikol Consulting Group. Having direct contacts with the Cypriot financial regulator, our managers will provide you with qualified advice and provide legal support for the entire procedure for obtaining a license.
Turning to the specialists of the Nikol Consulting Group for help, you will receive quality services at optimal prices!