Banking and Finance
Your Goals
Are you looking to operate a Financial Services firm in Cyprus?
Establishing your financial institution in Cyprus is associated with numerous benefits including:
- ability to carry out financial activities authorised in Cyprus in other member states under the European Passporting scheme
- stable, transparent and lenient taxation regime with a 12.5% corporate income tax rate and exemption from corporation tax on profits from the sale of titles (shares, debentures, bonds, units in collective investment schemes, etc.)
- developed and harmonised legal and regulatory framework
Our law firm can assist you in the process of setting up your business and obtaining Regulators’ authorisations for the following types of entities:
Financial Firms regulated by the Securities and Exchange Commission (CySec)
- Cyprus Investment Firms (CIF) and Branches of non-EU Investment Firms
- Market Maker (MM) Brokers
- Asset and Wealth Managers
- Portfolio Managers
- Investment Advisors
- Investment Funds
- UCITS (Undertakings for Collective Investment in Transferable Securities) and Management Companies
- AIF (Alternative Investment Funds) and Managers (AIFM)
- Insurance and reinsurance companies domiciled in Cyprus
- Branches of non-EU insurance or reinsurance companies
- Insurance Intermediaries: agents, sub-agents, brokers and advisors
Our Expertise
In tandem with our close associates, we have a thorough understanding of the legal, prudential and practical aspects of obtaining Regulators’ authorisations for diverse types of financial entities.
With our firm at your side, you can always lean on an expert to ease the complexities of- Choosing the type of financial entity and authorisation most suited to your objectives
- Preparation of the licensing applications, questionnaires and accompanying documents
- Ensuring compliance with the regulatory requirements for authorisation
- Provision of requisite internal policies and procedures at your firm
- Liaising with the Regulator in the pre-application meetings and answering the queries that might arise during your application’s assessment
- Applying for extension of authorisation to include additional investment services
- Fulfilment of any conditions imposed by the Regulator
Useful Resources
Insurance Companies Control Service – Information for submitting an application