Updated: January 01, 1970
Our team advises potential investors and existing investment firms concerning legal and compliance matters. We provide our clients with detailed and practical advice on the regulatory and compliance requirements, CySEC licensing, and anti-money laundering (AML) advice.
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What is a CySEC license?
The CySEC license is granted to Cypriot Investment Firms (CIFs). CySEC, the Cyprus Securities and Exchange Commission, regulates and supervises any investment firm in Cyprus. CIFs must be licensed by CySEC. CIFs must satisfy strict structural, capital and quality requirements to get the license. For example, they must have a board of directors, of which at least two will be executive directors. All board members must have a good reputation, knowledge, skills, and experience, while the CIF is expected to allocate resources for their training and development. The minimum capital requirement is EUR 750,000. The CIF is not allowed to engage in activities and services other than those mentioned on the license. CySEC maintains a record of approved entities, one of the non-approved domains, and a warning list. It reviews and oversees the activities of investment firms regularly to ensure compliance.
What is a CySEC certificate?
The CySEC certificate is the certificate you receive after successfully passing the CySEC examinations. There are basic and advanced levels and examinations for AML compliance officers. The passing rate is 70% for all. Examinations take place twice a week in Nicosia. There is a fee (EUR 200 for basic and 300 for advanced and AML). You apply online, and the duration is 60 minutes.
Is the CySEC a good regulator?
CySEC is a legitimate and reliable public supervisory authority aiming to secure investor protection and a healthy securities market. It works closely with ESMA (the European Securities and Markets Authority) and operates following Union regulations, directives and other requirements. The news website Algarve Daily News calls CySEC “one of the most severe and reputable regulators in the European Union”.
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