We are Cyprus Company Formation specialist consultants and Cyprus Citizenship specialists. We provide ALL the Cyprus company formation and company registration and management services as well as Cyprus Residency and Citizenship Services in forex trading company cyprus to obtain Cyprus Company Tax and Cyprus Residence and Citizenship Advantages. We have an experienced team of Company Formation and Citizenship professionals who are part of the FBS Kotsomitis Global Network. It encompasses generally an over-the-counter market where buyers and sellers conduct foreign exchange transactions.
So, nowadays there is a big trend of setting up regulated forex companies in Cyprus and Malta that in addition have very favourable tax and regulatory regimes coupled with very low operating cost levels and considerable financial services, legal, tax and accounting expertise and infrastructure. This form of trading, mainly conducted over the internet was un-regulated until 2009. From then onwards a licence is needed for such activities as well as a real presence in Cyprus in terms of staff, premises, equipment, internal controls, compliance function and fit and proper management. 4 of Part III, Third Appendix of the Law or contracts for differences according to the meaning of paragraph 9 of the aforementioned Part of the Law. In other words, the company, if successful in its application is granted a license. This can be achieved by setting up representative offices or fully fledged branches in other EU states.
Companies licensed as CIF’s have ongoing reporting requirements to Cysec, and have to comply with Anti Money Laundering requirements and have a stringent Know Your Client procedure in place. In February 2014 there was an amendment of Law N. CIFs has been reduced significantly in order to attract further investments in Cyprus. The requirement for Cyprus residency is to enable Cysec to correspond and liaise with him especially in as regards reporting as well as for clarifications and spot checks. Furthermore, the company must have a General Manager, who is non-executive, and has no requirement to be resident in Cyprus. The requirement is that he visits Cyprus on a regular basis to oversee the functions of the company.