a real office in Cyprus. Companies wishing to obtain an FX CySEC broker license company must comply with the requirements of CySEC. Forex brokers are expected to follow these regulations in a precise and comprehensive manner, and CySEC carry out frequent checks on brokerage firms to ensure that they are initially structured correctly, and subsequently administered in a compliant manner. This is a highly stringent licensing and regulatory body, and is renowned for being one of the top licensing bodies in the world. It is a well established and respectable jurisdiction in regards to the issuing of a financial licensing. Cyprus forex licenses are issued by the same body, CySEC.
The company must comply with the minimum capital requirements of 125,000EU. In using a professional consultancy company to acquire your CySEC license, you will be sure to supply the correct documentation to CySEC and complete the entire application procedure in the quickest and most professional manner possible. Cyprus is one of the highly regulated governing bodies in the Forex industry. Starting Business can help you to obtain your Cyprus CySEC license in a timely and efficient manner.
CySEC is a highly respected regulatory authority that implements very stringent rules and regulations during both the formation and administration stages of a forex company. There must be at least one local director (Cyprus director) to act as Executive director (the director must have a financial background and have no criminal record). Cyprus is an attractive offshore location for forex broker businesses. Being a CySEC regulated forex broker will give traders the peace of mind that you are a fully regulated FX company in an honest and reliable jurisdiction. A well-established and most respected jurisdiction to carry out a financial business, which has very strict government rules and regulation, laid by authorities of CySEC. It can take a few weeks to obtain and prepare all the necessary documentation, and once all the documents have been submitted to CySEC, it may take an additional few months to review the applications and to deliver a positive or negative answer. In addition to obtaining the Forex trading license in Cyprus, we can help you with the rest of the needs of a Forex company bank accounts, payments, Forex license in other jurisdiction (if needed), call centers and other services. Brokers who choose to set up in Cyprus are regulated by CySEC, which is the Cyprus Securities and Exchange Commission. Our full package services come with all the mandatory requirements that are crucial for a successful registration and renewal with the CySEC and compliance procedure with the regulatory body. We also help you in every step of the way to ensure your business integrity during Cyprus Forex Company Formation. As Cyprus grew in popularity as an offshore business jurisdiction, the Central Bank of Cyprus struggled to cope with the issuing of licenses, and thus CySEC was established as a separate licensing institute.
Forming a Cyprus broker company and acquiring a Cyprus forex license is a lengthy and relatively complex procedure, however the benefits of such an attainment are numerous. Incorporate a Cyprus company, update the Memorandum of the Company as to its Forex activity, it must provide specific details regarding the nature of its business. Therefore, having a Cyprus forex license can prove to be a very positive investment, as it gives your traders the peace of mind that you are a fully licensed and regulated FX broker in an honest and reliable European jurisdiction. It follows very strict rules and regulations as implemented by the financial services authority of Cyprus (CySEC The Cyprus Securities and Exchange Commission). Company formation, pheasanTech offers a complete package for a Cyprus based investment firm. CySEC became the predominant licensing body for establishments that involved investment, foreign exchange and other similar firms.