Investment license in Cyprus

Permission for investment activities in Cyprus is necessary for any company that plans to develop its business in the territory of the EU. Cyprus is one of the few jurisdictions where obtaining certificate is associated with relatively low rate of expenses.

The state considers standard package of documents, which includes all personal data of beneficial owners, information on the origin of funds for opening of the statutory account, as well as strategy of expansion of the corporation. Business plan should focus on the benefits and advantages for economic sector of Cyprus related to establishment of new enterprise.

If various foreign exchange transactions are conducted through your company, and the company itself attracts the target audience to the financial market of Cyprus, the chances of obtaining license are significantly increased.

License for investment company in Cyprus: stages of processing

  1. Establishment of the enterprise. According to the current legislation of the licensing country, the certificate is issued only to the CIF (Cyprus Investment Firm), that is, the legal entity of the state. Investment sphere of activity should be demonstrated in the Charter of the company. It is impossible to obtain permission for IP and other types of small entrepreneurs, so the organization is obliged to have the form of LLC and the license of CySec external controller. The foregoing is the commission for protecting and regulating the financial turnover of the country.

  2. Establishment of capital. To obtain investment license in Cyprus, it is necessary to create own capital in a certain amount. The contribution is transferred to the account of one of the local banks. Financial subject can be selected by the client with the help of our company specialists. Lawyers will select the bank with minimum requirements and the most cost-efficient terms and tariffs of service. For enterprises with considerably small number of financial instruments and services provided, it is sufficient to contribute 200 euros, so the wider is the activity of the applicant, the higher is the level of contribution. The exact amount can be specified during consultation. The counterparty is obliged to know that the contribution with the capital is frozen for the entire term of the legal force of the license.

  3. Directorate. Cyprus requires the presence of the board of directors in the organization, which should consist of not less than four people. Two of the managers should be residents of the state. Each director shall confirm compliance with the level of the position held, education and work experience in cooperation with finance.

  4. The head office is organized directly in the territory of Cyprus. When submitting the application, availability of personnel in the head office, transparency of the firm's policy, the level of protection for the clients, and abiding confidentiality are verified. All software used for work should also be certified.

The cost of investment license in Cyprus

Examination of the package of documents takes approximately 6 months from the date of its transfer to the expert commission. Throughout the foregoing period, we carry out legal support to our clients, and we completely undertake obligations regarding collection of the documents and negotiating with foreign counterparty.

It is possible to clarify the cost for investment license in Cyprus during first consultation with our lawyer.

The total amount is composed of the following:

1. Expenses on the establishment of the firm. Opening of representative office or branch will not produce the targeted results, since the regulations refer specifically to the establishment of the head office. Creating business from scratch requires comprehensive collection of documentation.
2. Costs for opening account and contributing capital. The amount depends on the selected bank. We recommend opening depository accounts to establish the authorized capital. The amount of the transfer is calculated separately based on the data about your corporation and its planned development in the territory of Cyprus.
3. State Fees and Commissions. Almost every action requires contribution of funds into the state treasury (namely: submission of the application, consideration of the application, fee for obtaining the status of legal entity and miscellaneous).

The estimate is compiled according to your request, but can not guarantee indication of the exact total amount, since there may be a necessity in  providing additional services during the processing of license.

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