Obtaining a Forex licenses in Cyprus
Cyprus is the most profitable European country for doing business with a no less favorable tax system. Licenses of a Forex broker in Cyprus and business activities of investment companies are regulated by the Cyprus Securities and Exchange Commission. Thus, companies that give advice on investing in securities are subject to licensing; provide investment services through the European Union, including in Cyprus; provide services to enter into transactions representing clients regarding financial instruments; management of own funds and investments.
A Forex license in Cyprus enjoys a number of benefits, such as: checking the availability of a license online, excellent jurisdiction and quick issuance of licenses, issuing licenses by the Cyprus Securities and Exchange Commission is recognized throughout the European Union.
The CySEC requires for the obtaining the Forex licenses the presence of the Cyprus Investment Company, the company’s office in Cyprus, which should consist of an executive director, accountant, secretary, brokerage, financial, IT department, their supervisors, risk manager and trader, the presence of the charter document, which indicates all activities related to Forex activities.
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