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cyprus Audit Services
cyprus is considered to be a haven for modern business. Their main advantages are their Strategic Location, the Sophisticated Infrastructure, the Highly-Educated Workforce and the Favorable Tax System.Description As cyprus has joined the EU, it has brought the country economic and political stability which transformed the island into an international business hub and a corporate servi...
Path: Accountingcyprus Forex License
cyprus offers a very well established environment for a Forex broker firm. It is a well-known and is one of the top choices in the EU for acquiring of a financial license. It follows very strict rules and regulations as implemented by the financial services authority of cyprus (CySEC – The cyprus Securities and Exchange Commission).Incorporation & obtaining license: from 5 to 9 months ...
Path: LicensingAccount Opening in Bank of cyprus
Bank of cyprus is the leading banking and financial services group in cyprus, with significant market shares across all businesses.Account opening: 7-14 working days Overview: The Bank provides a wide range of financial products and services which include retail and commercial banking, finance, factoring, investment banking, brokerage, fund management, private banking, lif...
Path: BanksAccount Opening in Bank of cyprus
Bank of cyprus is the leading banking and financial services group in cyprus, with significant market shares across all businesses.Account opening: 7-14 working days Overview: The Bank provides a wide range of financial products and services which include retail and commercial banking, finance, factoring, investment banking, brokerage, fund management, private banking, lif...
Path: Bankscyprus Investment Fund License
cyprus is a resilient and dynamic business center, offering a business-friendly, international and cost-effective environment for the operating companies in this jurisdiction. Also, it is a well-regulated EU member state, combines tax efficient features of a modern financial center with the necessary infrastructure for the investment fund industry.Timeframe: up to 4 months Minimum capital req...
Path: Licensingcyprus Crypto License
In cyprus, obtaining a crypto license involves registering a company and adhering to the regulations set by the cyprus Securities and Exchange Commission (CySEC). The application process requires submitting a detailed business plan, AML/KYC policies, risk management procedures, and information about the company's directors and shareholders. CySEC evaluates the application to ensure that the busin...
Path: Licensingcyprus Accounting Services
cyprus is considered a haven for modern business. Their main advantages are their Strategic Location, the Sophisticated Infrastructure, the Highly-Educated Workforce and the Favorable Tax System.Description As cyprus has joined the EU, it has brought the country economic and political stability which transformed the island into an international business hub and a corporate service cen...
Path: Accountingcyprus Securities and Exchange Commission is planning to establish an Innovative Hub
**The cyprus regulator wants to establish a two-way working relationship with FinTech and RegTech developments.** Regulatory and financial technologies initiatives have been spreading across the globe over the past few years. In late July of 2018, the main cyprus financial regulator, the **cyprus Securities and Exchange Commission (CySEC), announced that it would also be creating an Innovati...
Path: BlogThe main benefits of cyprus formation
**cyprus is one of the top-rated countries in Europe for registering companies including registration for offshore purposes. A compound of reasons, such as the advantageous tax legislation, classic corporate law and the country’s consistent tax policies make cyprus a very attractive jurisdiction.** cyprus has a powerful and advanced legal regulatory system and, as a former British colony, it...
Path: Blogcyprus has transferred to Moscow Russian bank account holders data for 2017
**Representative of the Ministry of Finance of cyprus stated that all financial data for 2017 that should have been transferred, as part of the automatic exchange of information, was successfully transferred to Russian Federation in September 2018.** Hence, information for the last year will be transmitted to Moscow in September 2019. That means that the fight against tax fraud has entered a new ...
Path: Blogcyprus intends to tighten the rules for issue of "Golden passports"
*Starting from January 31, 2020, potential investors will find it much harder to obtain the “golden passports” of cyprus.* The Parliament of cyprus voted in favor of a bill tightening the issue of so-called “Golden passports” to investors, as reported by the cyprus Times newspaper. “Golden passports” refer to passports and residence permits, granted in exchange for investments in t...
Path: BlogGood times are over. Russian owned cyprus companies will have to prove their real economic activities within the country.
...nefits in transactions with foreign companies**. The aforesaid convention concerns bilateral agreements on the avoidance of double taxation which companies can use in tax avoidance schemes. We would like to point out that among other countries cyprus ranks at the top regarding investments in the Russian Federation, and in accordance with expert estimates, about 40% of Russian non-resident co...
Path: Blogcyprus banks overdid it with risk prevention tactics
**cyprus is experiencing an uncontrolled mass termination of registered companies and certain reduction of applications for new registration.** According to the president of the cyprus Fiduciary Association (CFA), Michael Christos, this presents a great concern for local business sectors. The mass outflow of companies operating in cyprus and their establishment in other jurisdictions will hav...
Path: Blogcyprus passport - new regulations and more demanding requirements
...nt years have seen a growing interest in investor citizenship (“golden passport”) and investor residence (“golden visa”) programs, which aim to attract investment by granting investors citizenship or residence rights of the involved country. cyprus, among other countries, has raised concerns about certain inherent risks of such programs, in particular as regarding security, money launderin...
Path: BlogRussians Are Actively Buying Property In cyprus
The recent changes into the cyprus Investment Program (CIP) rushed Russian citizens to buy immovables on the island. Demand analysis in the first quarter of the year shown 40.43% upsurge. Amendments to the CIP were announced in February and entered into force on 15 May 2019. At the current time, in addition to a standard investment in the amount of € 2 million, the cyprus authorities do ...
Path: BlogWhy do they always choose cyprus?
*Many business founders who are thinking about starting their business offshore have been considering cyprus. This country is a first thought for most people when hearing the word “offshore”.* Offshorelicense Ltd is ready to help you understand why this island is so popular amongst company founders and whether you should choose it too. There is a thought that business in cyprus is popular b...
Path: Blogcyprus Securities and Exchange Commission (CySEC) accepts new policy for Crypto-Asset providers
This summer, on the 25th of June, cyprus Securities and Exchange Commission released its directive on the Crypto-Assets Service Provider register (CASP Directive), which main objective is formation of subsidiary legislation, issued under the section 61E of the Cypriot Prevention and Suppression of Money Laundering Law 2007. In addition to that, on the 13th of September, CySEC issued a Policy S...
Path: Blogcyprus Limited Liability Company Formation
...th more than 40 foreign jurisdictions.Incorporation: 5 working days + delivery time for the courier Minimum paid up capital: No minimum capital requirement Overview Located in the Eastern Mediterranean, the island of cyprus is conveniently situated at the hub of three continents; Europe, Asia and Africa. cyprus is an important European business hub providing maj...
Path: CompaniesCySEC Requires to Follow Recently Introduced FATF’s Policies
As the world is focusing on responding to the COVID-19 pandemic and financial crimes benefiting from COVID-19 fears skyrocketed in recent months the cyprus Securities and Exchange Commission (CySEC) has ordered all regulated entities under it to implement the Financial Task Force (FATF)-recommended pandemic-related anti-money laundering (AML) and counter-terror financing (CFT) policies. The offic...
Path: BlogHow to Start Your Own Forex Brokerage Business
...rs or partners. 2. Choose the Right Jurisdiction Registering your company in the right jurisdiction is a critical aspect of starting a brokerage. Your choice depends on your goals, budget, and client requirements. Popular jurisdictions include: cyprus: Attractive tax conditions and robust regulatory oversight Seychelles: Simpler and more affordable setup, though less prestigious United King...
Path: BlogMove business wisely. What to consider when choosing offshore jurisdiction?
... local regulations. Most considered branches are: asset protection legislation, confidentiality conditions, international business functioning rules, investment laws and taxes. Due to this, many worldwide-known offshore jurisdictions became popular: cyprus, Switzerland, the UAE and other. Considering this point, it is useful to consult with international lawyer to choose the right jurisdiction for...
Path: BlogCySEC Enhancement of Procedures Regarding Safeguarding of Client Funds
Local cyprus regulator cyprus Securities and Exchange Commission (CySEC) on Monday May 4th, published Consultation Paper on enhancement of procedures regarding safeguard of client funds held by cyprus Investment Firms (CIFs). The regulatory authority will accept responses to the consultation paper by May 18, 2020. CySEC intends to publish a circular that will further enhance the procedures tha...
Path: BlogImpact of New Legal Framework on Estonian Crypto Market
...ved over the past two years as regulation has shifted from theory into practice. EU Member States that are not complied with 5 AMLD will be held in breach of EU Law. In regards with new regulation, few of the Member States, etc. Spain, Portugal, cyprus, Slovenia, have already been received notifications and warnings by the EU Commission. Clearly Estonia looking to avoid such experience, but th...
Path: BlogCySEC introduces restrictions for CFD offering to retail investors
**The cyprus Securities and Exchange Commission (CySEC) has announced new national measures that restrict the distribution, sale, and marketing of contracts for difference (CFD).** New CySEC measures are largely aligned with the ESMA (European Securities and Markets Authority) restrictions for offering CFDs to retail clients. ESMA, for its part, published an opinion concluding that measures adopt...
Path: BlogCySEC has expanded its authority
*Now, having received new level of authority, the regulator will be able to thoroughly ‘clean up’ the brokerage industry in cyprus.* The cyprus Financial Regulator, the Securities and Exchange Commission (CySEC), has just announced that it has significantly expanded its legal authority. In accordance with the new regulations, **CySEC will be able to control the country’s financial sector...
Path: Blog6 ways to save your assets in case of business problems
...on-banking financial companies, because it will be more complicated to work and discuss returning conditions. Having an insured deposit in a reliable bank is a really good alternative and will help your business in case of any problems. Switzerland, cyprus, United Kingdom or Singapore banks offer deposits that can play the role of your safety rope 3. There is different types of expenses and som...
Path: BlogCySEC proposes three levels of leverage for retail clients
With the upcoming end date of EU-wide product intervention measures on July 30, 2019, national regulators are seriously contemplating the implementation of their own rules. The cyprus Securities and Exchange Commission (CySEC), previously, has refrained from announcing its opinion on this matter. However, just recently the regulator published an official statement proposing to establish lever...
Path: BlogCySEC has introduced a new reporting form for CIFs
**The cyprus Securities and Exchange Commission (CySEC) recently has announced that cyprus Investment Firms (CIFs) are required to fill in a new form detailing their trading volumes for 2018.** The aforementioned forms require retail brokers to indicate their trading volumes for the past year. CIFs are obliged to classify their volumes into asset sub-classes and include all undertaken trades. ...
Path: BlogEU Member States Granted Citizenship To Over 800 Thousand People In 2017
..., 74% acquired citizenship of Italy or Portugal). Most of the passports to foreigners were issued by **Italy** (146 600), **United Kingdom** (123 100), **Germany** (115 400) and **France** (114 200). In 2017, over 5.5 thousand people were granted **cyprus** citizenship, of those 23.8% (1313 people) were citizens of Russian Federation, 9.1% (502 people) were citizens of **United Kingdom**, and 8.7...
Path: BlogThe Offshorelicense website launch. What it brings to us?
...Everything you need to know about offshore establishment, licensing, performing banking and merchant actions, binaries and our other specializations can be found here. Don’t also forget that we are present all over the world: in London, Hong Kong, cyprus, Prague and Riga. We work for you internationally, using most professional staff and keeping your business safe in every area.
Path: Blog6 things to consider when going offshore in 2017
... opportunities. Business regulation laws in domestic country sometimes are strict and oppressive for business. This means that there is a need for company founders to choose most advantageous places to do business. It seems everyone has heard about cyprus, British Virgin Islands, Switzerland its loyal legislation for internationally based companies. Offshorelicense Ltd recommends our customers to...
Path: BlogGerman regulator is planning to implement ban on binary options
...te the retail trading industry, relating to contracts for difference (CFDs).**According to the expectation, the FCA aims to adopt leverage caps for CFDs from 2:1 to 30:1. Similar limitations were introduced by ESMA in August of 2018. **The CySEC, cyprus Securities and Exchange Commission, is another regulator that declared its readiness to implement relevant national measures.** Read our blo...
Path: Blog