Licensing

Licensing

Operating in the Cyprus regulatory framework requires specialist knowledge and expertise. ALTA CORPORATE SERVICES in association with Intelion Partners is able to assist its clients in obtaining licenses for any of the following entities:

Alternative Investment Fund (AIF)

Alternative Investment Fund (AIF) regulated by Cyprus Securities and Exchange Commission (CySEC) and governed by ‘Alternative Investment Fund Managers Law of 2013’ in accordance with European Union Directive 2011/61/EC of the European Parliament and of the Council.

AIFs can take one of the following legal forms:

  • Fixed Capital Company (FCC)
  • Variable Capital Company (VCC)
  • Common Funds (CF)
  • Limited Partnership (LP)

Key Advantages of establishing and licensing your AIF in Cyprus are the opportunity of becoming a holder of an EU Passport, a low tax burden and extensive double tax treaty network options available to tax resident companies.

Set up and Licensing of Alternative Investment Fund with Limited Number of Persons (the “AIFLNP”) is also possible.

Cyprus Investment Firm (CIF)

Following the implementation of the Markets in Financial Instruments Directive (MiFID), investment firms can provide services throughout the European Union, on the basis of home country supervision while offering investors a high level of protection. A Cyprus Investment Firm can usually offer Brokerage services, Asset Management, FOREX, or Binary Options trading, or act as a Market Maker (or Multilateral Trading Facility) under a variety of licensing options.

Preparing an application for authorization with the Cyprus Securities and Exchange Commission (CySEC) is a critical process. It’s the beginning of your relationship with the regulator and establishes your firm’s credibility and competencies from the outset.

We take responsibility for directing your application and ensuring your firm is presented to CySEC accurately and in the best possible way. We work closely with you, as we want to understand the inner workings of your business and develop the proper “application pack”, which includes your Regulatory Business Plan, your Compliance Monitoring Program with documented compliance policies and procedures. We will guide you through the burdensome process of submitting your application to CySEC by responding to their inevitable queries. We will be working closely with you until the project is complete and an approval has been granted.

Payment Institution (PI) and Electronic Money Institution (EMI) are both regulated by the Central Bank of Cyprus. If you wish to have more information regarding the setup and licensing of one the entities mentioned above do not hesitate to contact us.

Payment Institution (PI) and Electronic Money Institution (EMI)

Both regulated by Central Bank of Cyprus. Please enquire more information regarding set up and licensing of one the entities mentioned above.

Administrative service providers (ASP)

The 'fiduciary services' covered by the Law 196(I)/2012 regulating Companies providing Administrative Services and Related Matters of 2012. The Law defines the services subject to its provisions. There are two main categories, the Trust services and the Corporate Services. The former is defined as the administration of trusts including, without limitation, the assumption of duties or provision of services such as trustee or protector of any trusts wherever such trusts may have been established or settled and irrespective of the locus of administration or investment or disposition of the property of a trust.

Companies providing administrative services may be licensed through one of the following bodies:

  • Cyprus Securities and Exchange Commission
  • Cyprus BAR association
  • Institute of Certified Public Accountants of Cyprus