Since, the Cyprus is a member of the EU, European standards apply to this jurisdiction and the laws governing financial activities comply with the MiFID. For this reason, obtaining an STP broker license in Cyprus seems to be such a profitable licensing option that allows you to secure your business and make it more reliable.
The licensing of brokerage organizations in Cyprus is carried out by the CySEC, a financial regulator that monitors investment companies, brokers, funds and other entities operating in the Republic of Cyprus.
STP broker license in Cyprus is suitable for those enterprises that plan to conduct business on behalf of their clients. It allows the holder to keep the client’s funds and his securities, as well as execute orders and administer a securities portfolio.
As noted above, CySEC is responsible for licensing of financial institutions in Cyprus. To order an STP broker license in Cyprus, first you need to set up a Cyprus company for financial activities, register a local office and hire employees.
An application for ordering an STP license in Cyprus must be supported by a manual on conducting internal operations, a business plan, a financial forecast, a manual on AML Compliance, and other documents, the list of which is presented below:
CySEC is entitled to request additional documents, clarifications and details. Consideration of the application is suspended until the applicant company has submitted all the necessary information.
The regulator can issue an STP license in Cyprus within 6 months from the date of application, and notifies the applicant of its decisions.
It should be noted that a month before submitting documents to the CySEC, an applicant must contribute a minimum capital of 125,000 EUR on company’s account.
The staff recruitment must be discussed separately. In order to obtain a Cyprus STP license, you need to hire employees which will hold the relevant positions and will have to pass CySEC approval as appropriate in terms of knowledge and reputation:
We remind you that our articles are prepared for informational purposes, and cannot be used as legal advice, recommendations or instructions.
If you need legal assistance in resolving issues related to obtaining of brokerage licenses in Cyprus, IQ Decision experts are ready to provide you with qualified legal advice on licensing of brokerage organizations. In the process of licensing we will consider the client’s business plan and the documents he has, and will give precise recommendations regarding what to do next.
Moreover, we draw your attention to the fact that our company offers a full package of services for brokerage firms in Cyprus. We help our clients at all stages of establishing a Cyprus broker company. We can assist you in collecting the necessary documents, going through an interview with the regulator, opening an account in the name of a company, and providing other legal services.
Please, make a request through the feedback form, or contact us right now to receive complete information about the range of our services, or to order individual legal advice on obtaining an STP 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.
Fill out the form or contact us as you find convenient: skype, telegram, etc. Our experts will help you resolve the issue.