Compliance Risk Management Services

Eltoma Corporate Services can assist with: Compliance Function Establishment & Implementation, including Compliance Function Outsourcing.

  • Establish the legislation requirements for your company.
  • Client risk categorisation, customer due diligence and client documentation requirements, linked to Company’s Client Acceptance Policy.
  • Documentation filing & retrieval.
  • Compliance procedure drafting and review/updated procedures, following regulatory legislation amendments.
  • AML Manual drafting.
  • New Client Checklists design, to support the compliance process, custom designed for the business industry.
  • Annual Review Client Checklists design, to support the compliance process, custom designed for the business industry.
  • Standard Induction AML Training.
  • Establish the reporting and record keeping requirements, including FIU (Financial Intelligence Unit) reporting.
  • General AML enquiries helpdesk, including live chat option.

KYC Documentation Compliance Services

  • Documentation receipt & review.
  • Documentation validity compliance checks, name & international passport check, including MRZ verification.
  • Review completed with international sanctions list/designated persons/PEPs.

CIF CySEC License

  • The Investment Firms Act of 2002 (the "Act") provides the legal framework for the provision of investment services as well as for the registration, regulation of operations and supervision of CIFs. The Act governs the provision of investment and non-core services in Cyprus, as well as the provision of investment and non-core services from within Cyprus. CIFs must be licensed by the Cyprus Securities & Exchange Commission (CySEC), which is the relevant regulatory and supervisory authority.
  • Assist with identifying & satisfying conditions of license.
  • Application for CIF – completion of necessary documentation/application.
  • Regulatory inspections & post investigation remediation.
  • Full documentation retrieval to support CIF License application.
  • Collaboration with KPMG throughout the full process.

Furthermore, our Compliance Department can provide:

  • Guidance on the proper application and interpretation of regulatory standards.
  • Implementation and support of effective policies, procedures and practices for regulated types of activities regarding AML/CFT policies.
  • Training the staff on key compliance issues.
  • Provide analysis and control of compliance with regulatory norms, detection of offenses / inconsistencies with the regulatory framework (Due Diligence, internal investigations, consideration of client complaints).
  • Regular reports to management on compliance issues.
  • Identification, assessment and management of compliance risks.

For more information on all Cyprus compliance matters, contact us, we'd be happy to answer any queries you have. 



Take the next step, we are here to help.

Register a Cyprus company.
Open a Cyprus bank account.

  Resources:

The Dematerialisation of Shares in the UK: Current Update & Assessment

The Dematerialisation of Shares in the UK: Current Update & Assessment

Business is an area that is continuously developing. An integral part of both business and economics are companies. It is possible to say that companies dictate the conditions of the market to a certain extent. Any public or private company has its own shares; a share is a security that provides a portion of ownership of the company and gives the holder the right to a part of the profits.

Current Information on the Payment of Cyprus Taxes for Pensions & Rental Income

Current Information on the Payment of Cyprus Taxes for Pensions & Rental Income

Cyprus employees who are considered to have tax resident status, pay tax on their global income. Employees not considered to be tax resident are only charged for specific types of income that are originating from Cyprus-based sources.

Contrary to the Bearish Trend: How Tether Gained a Place in the CoinMarketCap Top 10

Contrary to the Bearish Trend: How Tether Gained a Place in the CoinMarketCap Top 10

Tether Ltd, the issuer of Stablecoin, a type of cryptocurrency under the ticker USDT, has been hotly debated for the past year. Many representatives within the crypto-community suspect the issuer of the "tokenised dollar" regarding the insufficient supply of the currency, as well as the regular "quantitative easing" of the market during periods of recession.

Current Information on the Payment of Cyprus Income Tax

Current Information on the Payment of Cyprus Income Tax

An individual is considered to be tax resident in Cyprus by spending a total (consecutive or otherwise) of 183 days or more in any one calendar year in Cyprus. Anyone earning an income in Cyprus falls into two categories:

UK Company Law: The Doctrine of Lifting the Corporate Veil

UK Company Law: The Doctrine of Lifting the Corporate Veil

One of the main advantages of forming a legal entity is to limit the liability of the members of the company. However, in some circumstances, legal entities can be disregarded. This process is known as piercing the corporate veil and is the most common method for shareholders to take responsibility for the actions of the corporation.

How to Spot Professional Money Laundering Activities: A Guide for Companies

How to Spot Professional Money Laundering Activities: A Guide for Companies

A sound client due diligence (CDD) policy is crucial for any providers offering banking, incorporation, legal or accounting services to any extent or otherwise. Compliance must play a huge role around all company decisions to accept and work with new clients, with an explicit set of rules for knowing and identifying different risk categories.

Creating Physical Presence & Capital Requirements for Cyprus Shell Company Crackdown

Creating Physical Presence & Capital Requirements for Cyprus Shell Company Crackdown

Recently, the Cyprus Central Bank issued guidance to banks & credit institutions, advising them of the new mandatory refusal to take on new clients or to continue servicing existing accounts with so-called shell or letter-box companies.

How the UK is Combating Offshore Culture & How it Could be Doing More

How the UK is Combating Offshore Culture & How it Could be Doing More

Typical tax haven destinations such as BVI, Jersey and Switzerland have always been in the spotlight from profiting off of helping clients circumvent legislation in their jurisdiction of residence for decades.