Currently there are more than 200 investment firms regulated by the Cyprus Securities and Exchange Commission (“CySEC”). For all organisations engaged in activities that come under the supervision of the CySEC, a proactive rather than a reactive approach to regulation saves time and effort at a later stage. In an ever-changing regulatory environment, investment firms in Cyprus are faced with the challenge of adapting to new regulations which set down demanding requirements, whilst also managing compliance costs. EmilianidesKatsaros has a dedicated team of advisory consultants specialising in the various regulations governing the sector, assisting many clients, through a broad range of services, to comply with their regulatory obligations.
We help Cyprus Investment Firms to confidently navigate regulatory changes, addressing their needs for integrated and practical solutions that cover the entire regulatory agenda and beyond. These changes must, and do, deliver real and significant benefits to their businesses.
Our dedicated advisory consultants recognise that every business is different. We can help you assess the impact of regulations on your business, as well as develop and implement a strategic response that empowers you to take control of the regulatory agenda.
If you aim to operate a regulated Investment Firm in Cyprus, you need to apply to CySEC and obtain the relevant license. In a continuously changing regulatory environment, you need to identify whether a license is needed and set up your operations in the best possible way, thus saving time and money in the process of obtaining it.
Among others, our advisory consultants may assist you with the following:
Payment services in the Republic of Cyprus may only be provided by a payment institution which has been granted authorisation by the Central Bank of Cyprus (CBC). Authorisation for the operation of a payment institution is only granted to legal persons which have been incorporated and have their head office in the Republic.
The following persons may provide payment services in the Republic of Cyprus without obtaining the prior approval of the CBC:
These institutions may either exercise the right of establishment or the right to provide services on a cross-border basis, provided that the competent authorities of the home member-state submit a notification to the CBC.
Our advisory consultants are ready to assist your organisation with the process and legal drafting of the supporting documentation required for it to be a legal person interested in obtaining authorisation from the Central Bank of Cyprus to provide payment services.
Our services with regards to the licensing of a Payment Institution include a wide spectrum of services required, including: