Cyprus Forex License
The Republic of Cyprus is a stable democracy and member of the European Union and British Commonwealth. Since the its entry into the European Union, Cyprus has dedicated considerable resources towards building a robust financial services sector. As a result, the relatively small nation is widely recognized by the offshore financial services community as a favorable jurisdiction.
Today, Cyprus is home to over 500 licensed financial institutions and thousands of offshore companies. The nation offers a competitive tax rate of 12.5% – one of the lowest rates found in the European Union. Moreover, as a European Union member, all Cyprus financial services licenses give the holder access to each member state as well as members of the Commonwealth.
Cyprus is an ideal location for promoters of Forex businesses. Cyprus offers a forex license which covers all related forex activity, including both acting as an introducing broker and direct broker. The licensure is recognized world-wide and many top forex brokers are licensed in Cyprus. In addition, the process of obtaining a license is both cost effective and can be accomplished quickly.
Advantages of a Cyprus Forex License
Aggregate daily trading volume in the forex markets exceeds $4 trillion. The streamlined and cost-effective process in obtaining a Cyprus Forex license can place you in this lucrative market in as little as three months. With increased volatility in the global currency markets, spreads have increased – and with that so have forex brokers’ profitable to the tune of over $1 billion annually. As such, smaller forex brokers are capturing tremendous returns owning just a small piece of this lucrative market.
Cyprus Forex License at a Glance
|Time to License||6 to 8 Months|
|Tax Structure||12.5% Percent Tax on Offshore Profits|
Cyprus Forex License Package
- Establish Cyprus business corporation.
- Preparation and drafting of shareholder and officer agreements.
- Preparation and drafting of narrative business plan.
- Preparation and drafting of current financial statements.
- Preparation and drafting of 3 years financial projections.
- Preparation and drafting of personal financial statements for owners.
- Preparation and submission of application with appropriate regulatory authority
- Preparation and drafting of responses to regulatory authority
- Identification and engagement of auditor and forex prime broker.
- Facilitate opening of bank accounts and payment processors.
- Preparation and drafting of AML/KYC policies and procedures.
- Preparation and drafting of client agreements and disclosures
Contact the Cyprus Forex License Experts
Trust our over fifty year’s combined experience in creating innovative solutions for our clients. Contact the forex licensing experts at FinLaw to begin the process of obtaining your Cyprus Forex License today. Our knowledgeable and skilled professionals are pleased to answer any of your questions.