Cyprus is a convenient state for starting an entrepreneurship. A distinctive feature of this jurisdiction is obtaining Cyprus brokerage licenses. This region boasts many specialized financial organizations with qualified personnel.
To register a broker license in Cyprus, an investment firm must be established first. To do business in the EU, you need to obtain a permission from the Cyprus Securities and Exchange Commission.
To obtain a Forex license in Cyprus, you need:
- to display investment services, that you provide in this jurisdiction and in the EU;
- to get personal advice on investing securities;
- to get a help, managing your portfolio;
- to perform transactions on behalf of the client;
- to carry out a lending process to carry out financial transactions;
- the registration/transfer of transactions;
Advantages for those, who decide to apply for a Forex license in Cyprus:
- CySEC permits are recognized by all EU countries;
- a respectability, the authority of this jurisdiction;
- fairly quick, easy licensing in Cyprus;
- an opportunity for investors/players to complain directly to CySEC;
- an ability to check for a license online.
Basic requirements of CYSEC for obtaining a Forex license in Cyprus:
- the availability of a Cyprus commercial firm;
- the enterprise must provide a Memorandum indicating the types of activities;
- the presence of one executive director (a resident) with the appropriate financial background, without a criminal record;
- a mandatory presence of full-time employees: secretary, accountant, 4 specialists of the board of directors, risk manager, 2 traders, heads of IT, financial and brokerage departments;
- a presence an office in Cyprus;
- the size of the authorized capital varies from 80 thousand euros to 1 million euros;
- a package of all necessary documents requested by CySEC.
You can ask for individual advice on obtaining Cyprus permissions with IQ Decision specialists. This will allow you to get a full package of services: to register a company in Cyprus, to open an account with a Cyprus bank and to apply for a Forex license in Cyprus.
The information outlined in the article is actual at the time of its publication.
Please refer to our specialists for checking possible solutions for your business.
Still have any questions?
Fill out the form or contact us as you find convenient: skype, telegram, etc. Our experts will help you resolve the issue.