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. Notably, the country offers a Cyprus Forex License which is held by hundreds of forex brokers worldwide.
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 renowned as a premier jurisdiction for establishing a forex business. The Cyprus forex license is relied upon by some of the larger forex brokers in the world due to the country’s flexible regulatory framework. Because of this flexible framework and popularity among forex brokers, the forex license application process and streamlined and can secured in approximately four months. Moreover, given the value of the Cyprus forex license, the application fees and ongoing license fees are extremely competitive when compared to other jurisdictions.
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||4 to 5 Months|
|Tax Structure||12.5% Percent Tax on Offshore Profits|
Cyprus Forex License Package
- Incorporation of Cyprus offshore corporation
- Arrange for local registered officer and local directors, hosting and local office
- Draft corporate bylaws, minutes and owner share issuances
- Establishment of corporate bank account suitable for forex operations
- Establishment of merchant service account for accepting credit and debit cards as well as electronic money and cryptocurrency
- Draft requisite business plan, financial statements and financial projections
- Draft requisite Anti-Money Laundering & Know-Your-Customer policies
- Arrange software providers, affiliate networks and prime broker
- Prepare and process application for Cyprus Forex License with the Cyprus Securities and Exchange Commission
- Representation before the Cyprus Securities and Exchange Commission, banks and liquidity providers
- Ongoing legal, compliance and operational support
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.
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