CySEC (Cyprus Forex License)


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Home Formation

COMPANY FORMATION

Get a Cyprus Forex Broker License

01

Overview


   Traders Solution offers a complete package for a Cyprus based investment firm. We also help you in every step of the way to ensure your business integrity during Cyprus Forex Company Formation. 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.

   Cyprus is one of the highly regulated governing bodies in the Forex industry. 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.

   The CySEC Broker License gives you the reliability and safety among the European jurisdiction. CySEC is highly stringent licensing regulatory body. Without registration, the Forex Company will not be regarded as a professional institution.

02

Requirements



From the Client

   Passport copy should be mandatorily notarized while the text should be in English language.

  Last 3-months utility bill (attached with original Copy)

  Director’(s) or shareholder’(s) letter with bank account statement

  The copy of educational degree certificate should be in English

  Bank statement showing that EUR 125,000(For STP license or Binary options) or EUR 730,000 (For Market Maker license) is in your bank account.

Related to the Process

  CySEC Application Form.

  Affidavit of directors’ bio data.

  Bank application forms.

  AML Procedures.

  Business Plan.

  5-year financial forecast.

  Balance sheet with forecast description.

  AML/CFT FAQ’s Declaration.

Note: The ad-hoc additional documents maybe requested from any authority or institution during the process.

CySEC by law must come to a decision of submitted and completed application in the span of 6 months from the application filing date, and it must further notify the applicant of the rejection or acceptance. All the necessary information should come along with authenticated documents and other details which are necessary to complete the application. The Authority may request further clarification or details pertaining to the submitted application within the 6-month period.

From the Client

Deposit


Minimum Initial Deposit

Market Maker

Clients Fund (CF)

Required Amount(in $)


€ 1,25,000

€ 7,30,000

€ 80,000

From the Client

   Cyprus benefits from a low corporate tax regime and an impressive range of double taxation treaties with more than 40 countries.

  The Corporate tax rate of Cyprus is 12.5%.

  Profits from securities are tax-free.

  No tax on dividend payment to non-residents.

   Profits, Interest, Dividends, Capital gains and any other related gains arising from disposal of shares in such investments can be freely remitted overseas without any restriction.

  Traders/Investors can complain directly to CySEC.

  A physical office in Cyprus is mandatory. While in the company structure you need to have at least 2 executive directors and 2 non-executive directors. All of them must be domiciled in Cyprus.

  At the same time, you need to have 2-3 people based in Cyprus and can work at your Cypriot office. Usually they are 1 executive director, accountant/compliance/back office person.

03

Procedure






Our Process for
Forex Company Formation


  Gather and prepare all the documents, including those of due diligence reports pertaining to the Forex requirement.

  Prepare initial corporate documents and statutory declarations by the shareholder/director to the CySEC.

  Establish a Cyprus company

  Preparation of AML procedures and custom tailored business plan.

  One month before getting registered in CySEC, you need to have bank guarantee as the regulator that you have 125000 EUR (For STP license and Binary options) or 730000 EUR (Market Making license) in your bank account.

  Submission of report and all corporate documents to the CySEC to start the process of application.

  Ad-hoc support and provision of minor documents required during the process.

  Before company formation, you need to start with the operating requirements i.e. you need to transfer approximately €30000 to Cyprus Compensation Fund.

  Receipt of license from the IFSC and delivery of documents to the clients.

  Receipt of Cyprus Forex Broker License from the regulatory body and delivery of documents to the Client.

  The bank account opening in any of the EU Bank with delivery of the clients’ documents.



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