Demand for Compliance Specialists in Cyprus is at its high
Anti-money laundering and compliance legislation contributed greatly to a high demand for relevant specialists. Cyprus is a regional financial centre, which promotes attention to Cyprus offshore companies. This causes a definite interest in Compliance Officers, because any licensed company that renders services on the registration and servicing of offshore companies has to employ such a specialist. Unfortunately, in Cyprus the above companies are controlled as strictly as those that own Brokerage and FOREX licenses. The cost of offshore servicing has therefore increased significantly. A recent trend seems to be occurring; waiving from licenses and shifting offshore business servicing to those jurisdictions that are exposed to a less control.