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 IQD Consulting 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.