Cyprus Investment Firms: licensed to provide forex, brokerage, portfolio management and other investment services in Cyprus and the EU

Anastasios Antoniou LLC [www.antoniou.com.cy]

Financial services law and regulation is becoming increasingly complex and stringent, making the provision of accurate and specialized legal support to participants in the financial services market as an imperative aspect of their operation. Our Firm specializes in providing its legal services and support to providers of financial services, through rendering our services towards the establishment, operation and compliance of Cyprus Investment Firms.

Cyprus Investment Firms (CIF) are companies established in Cyprus and licensed by the Cyrus Securities and Exchange Commission (CySEC) to provide one or more investment services to third parties or/and perform one or more investment activities pursuant to the law. Accordingly, an Investment Firm licensed in Cyprus, can be used for the provision of investment services from Cyprus in all EU markets by simply passporting its license, while it can also offer investment services to third countries. The services can be offered on a cross-border basis or by establishing a physical presence in the jurisdiction into which the services will be provided.

Investment Services subject to authorization by CySEC consist of the following services:

1. Reception and transmission of orders in relation to one or more financial instruments;
2. Execution of orders on behalf of clients;
3. Dealing on own account;
4. Portfolio management;
5. Investment advice;
6. Underwriting of financial instruments and/or placing of financial instruments on a firm commitment basis;
7. Placing of financial instruments without a firm commitment basis;
8. Operation of Multilateral Trading Facility.

Ancillary (non-core) Services subject to authorization by CySEC consist of the following services( it should be noted that no license can be granted for the provision of non-core services alone):

1. Safekeeping and administration of financial instruments for the account of clients, including custodianship and related services such as cash/collateral management;
2. Grant credits or loans to an investor to allow him to carry out a transaction in one or more financial instruments, where the firm granting the credit or loan is involved in the transaction;
3. Provide advice to undertakings or capital structure, industrial strategy and related matters and advice and services relating to mergers and the purchase of undertakings;
4. Provide foreign exchange services where these are connected to the provision of investment services;
5. Investment research and financial analysis or other forms of general recommendation relating to transactions in financial instruments;
6. Services related to underwriting;
7. Safe custody services.

The criteria imposed for the creation of an Investment Firm in Cyprus include significant requirements as to the owners, the management, the share capital and the resources of the proposed entity. Our Firm can help you address these requirements in a seamless way and establish a legally sound financial services entity in the market.

To find out more about our legal services in relation to the establishment, operation and compliance of Cyprus Investment Firms read our Information Paper on Financial Services in Cyprus. To discuss your legal needs in any other related matter please contact us at investment@antoniou.com.cy.

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