Forex License - Cyprus

Cyprus

Performing the activities in the financial sectors such as Forex markets, needs the special license. So the best option is obtaining a Forex license in Cyprus for those who are looking to operate in EU countries.

CIF(Cyprus Investment Firm) registration is necessary to obtain a license in Cyprus. Here the entire company registration along with activities are regulated by “Cyprus Investment Services & Activities” “Regulated Markets Law of 2007”. Every investment company has to be authorised as well as licensed by CySEC (Cyprus Securities and Exchange Commission). Here, company’s activity can be performed in the EU region.

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Our team offers all the services required for registering companies in Cyprus along with bank accounts opening, forex license obtaining with the requirements of the CySEC.

The license is issued for activities such as:

  • Orders execution on behalf of clients
  • Performing transactions
  • Receiving & transmitting financial instruments orders
  • Offering investment advice
  • Management of Securities
  • Investment
  • Money Exchange (if it relates to investment activities)
  • Underwriting financial instruments
  • Permitting credits or loans for transactions

Steps of Obtaining a Forex License:

  • Company Registration
  • Bank account opening
  • Sending registered capital as per bank documents
  • Documents Submission to CySEC for Forex License
  • Applying
  • Submitting Articles & Memorandum of Association, AML, risk management manual, business plan, documents that confirms absence of bankruptcy employees & shareholders.
  • Complete Support until handover Forex license

To register a company & obtaining Forex licenses approximately takes 6 months.

Personnel requirements includes 4 Board of Directors = 2 managing directors, 3 residents of Cyprus, directors must have professional experience & good business reputation; Risk Manager & Compliance Specialist; Internal(residents of Cyprus) and external Auditing staff; Legal Department; Secretary; 2 Certified traders; Brokerage department head; Chief Accounting Officer; IT department Head; Senior Accountant; One person can multiple posts. Nominee service is not available.

Steps of Obtaining a Forex License:

  • Minimum capital from 80000 to 1000000 EUR.
  • Over 80000 EUR - who offer Forex investment consulting services, not holding clients’ money or financial instruments.
  • Over 125000 EUR - financial brokers & who don’t hold clients’ funds.
  • 1 million EUR - who offers investment services & possess rights to hold or dispose of clients’ money.

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