Licensing Opportunities in Cyprus
In this fast growing and highly regulated industry, our team is ready to provide the appropriate solutions in order to assist with the following licensed activities here in Cyprus:
Alternative Investment Fund Manager (AIFM) Authorization
The Cyprus Securities and Exchange Commission (CySEC) regulates AIFMs pursuant to the law regulating the structure, organization and operation of AIFM in Cyprus. The Alternative Investment Fund Managers Law of 2013 and relevant Directives by CySEC were adopted for the purpose of harmonization with the European Community acts.
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Alternative Investment Fund (AIF) Authorization
Alternative Investment Funds are governed by the Alternative Investment Fund Law of 2014 (L.131 (I)/2014) and regulated by CySEC. The Law and relevant Directives aim to provide for an internal market for AIFs and a harmonized regulatory and supervisory framework.
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Cypriot Investment Firm (CIF) Authorization
CySEC regulates CIFs pursuant to the law regulating the structure, organization and operation of Investment Firms in Cyprus. The Investment Services and Activities and Regulated Markets Law of 2007 to 2014 and relevant Directives by CySEC were adopted for the purpose of harmonization with the European Community acts.
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Payment Institution (PI) Authorization
The Central Bank of Cyprus (CBC) regulates Payment Institutions pursuant to the law regulating the structure, organization and operation of Payment Institutions in Cyprus. The Payment Services Law 2009 amendment of 2010 and the Directive on Payment Institutions and Access to the Payment Systems of 2009 (395/2009) issued by the CBC were adopted for the purpose of harmonization with the European Community acts.
Electronic Money Institution (EMI) Authorization
The Electronic Money Law, 2012 and the Directive on Electronic Money Institutions (241/2012) issued by the CBC were adopted for the purpose of harmonization with the following act of the European Community.
Insurance Companies
The Insurance and reinsurance sector is regulated by the Cyprus Insurance Companies Control Service. The Insurances Services and Other Related Issues Law of 2002 to 2011 was adopted for the purpose of harmonization with the European Community acts.
With any issues regarding the above, we advise our clients to contact our team of professionals. This will help with the prevention of any potential misunderstandings and allows us to evaluate the project’s tax burden.