Cyprus Investment Firm: General Information and Requirements

An application is made to the Cyprus Securities and Exchange Committee (“CySEC”) to review, approve and grant the license for the provision of services as specified therein.

 

There are 3 categories of CIF licence, namely:

Eligible Low regulatory protection for clients: To deal with regulated institutions
Professional Medium regulatory protection for clients: To deal with Professional Clients
Retail Highest level of regulatory protection for client: To deal with all types of clients

 

CIF General Information and Requirements for license:

(a) Total Timeframe: 6-8 months (up to 2 months preparation 4-6 months CySEC review/decision)

(b) CIF Location: Head office in Cyprus fully and appropriately staffed

(c) Board of Directors: at least two executive and two independent non-executive members; all with appropriate professional knowledge, industry experience, and good reputation

(d) Summary of Documents required: Organisational Chart, Group Structure, Business Plan, Outsourced Services and Counterparties, Anti-money laundering manual, internal controls and procedures manual, Executive Directors’ CVs, Clean Criminal record certificates and non-bankruptcy certificates, Consents to act as Director)

(e) Minimum Capital Requirements:

The CIFs total accounting equity [retained earnings + shareholders’ capital] cannot fall under the initial share capital requirement as described below:

 

CIF does Not hold Clients’ money and /or Clients’ financial instruments: 

Reception and execution of orders €50,000.00
Provision of Investment advice €50,000.00

 

CIF holds Client’s money and/or Client’s Financial Instruments (FIs):

Reception and transmission of orders in relation to FIs €125,000.00
Execution of orders on behalf of clients €125,000.00
Portfolio Management €125,000.00
Provision of Investment Advice €125,000.00

 

CIF Provides one or more of the following investment services or activities:

Dealing on own account €730,000.00
Underwriting of FI and/or placing on FI basis €730,000.00
Placing of FI without a firm commitment basis €730,000.00
Operating of Multilateral Trading Facility (MTF) €730,000.00

Feel free to contact us for more information or support

 


 

Take the next step, we are here to help.

Register a Cyprus Investment Firm company.
Open a Cyprus Investment Firm bank account.

  Resources:

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