I am looking to register my forex business in cypus. I do not have nfa registration. Please let me know what are the requirement to register this company in cyprus.
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Forex company in Cyprus, need to setup more info please!!
- Thread starter bizman
- Start date
Actually, we have published all key details including fees and share capital requirements on our websites, please visit the following link for more details: /register-offshore-company-online/offshore-company-services/forex-license.html
Once you have gone through the above, please feel free to get back here, also our fee listed on the above link is not static and is subject to negotiation.
Once you have gone through the above, please feel free to get back here, also our fee listed on the above link is not static and is subject to negotiation.
Last edited:
You will need min. EUR 200k for the share capital depending on which business model (within the Forex Trading biz) you are going to use.
Actually the required paid in share capital differs depending on what activity you will have:
1. 1. EUR 200K- if you are providing execution services and hold client funds.
2. 2. EUR 1M- if you are additionally involved in any one of the following:
a. Dealing on own account;
b. Underwriting of financial instruments and/or placing of financial instruments on a firm commitment basis;
c. Placing of financial instruments without a firm commitment basis;
d. Operation of multilateral trading facility.
Actually the required paid in share capital differs depending on what activity you will have:
1. 1. EUR 200K- if you are providing execution services and hold client funds.
2. 2. EUR 1M- if you are additionally involved in any one of the following:
a. Dealing on own account;
b. Underwriting of financial instruments and/or placing of financial instruments on a firm commitment basis;
c. Placing of financial instruments without a firm commitment basis;
d. Operation of multilateral trading facility.
Okay I need to know this straight we have some investors and business partners as well who we discussing the possibility to start a forex trading company, hope you can help with the following questions!
The company will hold the clients money, a provide them trading service with CFD.
Regarding CySec regulated company:
For this Kind of company I need 200 000 EUR.
Your fees is 20 000 EUR
How much the CyCec fees?
What is the minimum requirements for the company to apply for license (Reception and transmition and Execution)
What are the requirements for this 3 members?
For example can I be one of this member?
Do you provide bank accounts for CIF?
If yes, what bank and the price.
Please correct the steps, and add time frames of the procedure for the license.
1. Establish Cyprus company.
Coast 3 000 EUR.
Requirements(think)??
How long it will take????
I know that to hire the people the Cyprus company should invest 180 000 EUR.
After I did it, I can assign me self in this company lets ssay as a one of the director.
Can I have any activity does't relate with investment firm activity?
2. Apply for the CyCec license:
Min requirements(think)???
Coast:
Your fees is 20 000 EUR, what is the scedual of the payment?
After we get license I pay or how?
3. Get license with Status pending.
To have the right for operation we need complains some requirements.
What are the requirements?
I would like to know another options for the FOREX company:
Can you assists with the investment company registered in another jurisdiction?
Can you assists to get any license in another jurisdictions?
Can you assists to get bank accounts and processing systems for this company?
The company will hold the clients money, a provide them trading service with CFD.
Regarding CySec regulated company:
For this Kind of company I need 200 000 EUR.
Your fees is 20 000 EUR
How much the CyCec fees?
What is the minimum requirements for the company to apply for license (Reception and transmition and Execution)
What are the requirements for this 3 members?
For example can I be one of this member?
Do you provide bank accounts for CIF?
If yes, what bank and the price.
Please correct the steps, and add time frames of the procedure for the license.
1. Establish Cyprus company.
Coast 3 000 EUR.
Requirements(think)??
How long it will take????
I know that to hire the people the Cyprus company should invest 180 000 EUR.
After I did it, I can assign me self in this company lets ssay as a one of the director.
Can I have any activity does't relate with investment firm activity?
2. Apply for the CyCec license:
Min requirements(think)???
Coast:
Your fees is 20 000 EUR, what is the scedual of the payment?
After we get license I pay or how?
3. Get license with Status pending.
To have the right for operation we need complains some requirements.
What are the requirements?
I would like to know another options for the FOREX company:
Can you assists with the investment company registered in another jurisdiction?
Can you assists to get any license in another jurisdictions?
Can you assists to get bank accounts and processing systems for this company?
Please see my comments below:
For this Kind of company I need 200 000 EUR.
As soon as you handled 3 parties funds the required share capital increase to EUR 1 million
Your fees is 20 000 EUR
This is not a static fee, you will expect a fee in the range of EUR 20.000 to 29.000 depending on the time used, out of experience we charge in average EUR 28.000 for our services including the preparation and submission of all legal documents, operations manual etc.
How much the CyCec fees?
It is about EUR 3000 - 5000 depending on if everything is as expected by them once we submit the application and they come and review the office, again out of experience, this will normally not exceed the EUR 3.000
What is the minimum requirements for the company to apply for license (Reception and transmition and Execution)
What are the requirements for this 3 members?
For example can I be one of this member?
Do you provide bank accounts for CIF?
If yes, what bank and the price.
The min. requirement is an office in Cyprus (real one) with 3 staff members, you can be one of them but need to be present there in about 60% - 80% of the time during a year, not sure if that is possible for you.
We can of course open a bank account for a licensed Forex trading company with all the major banks in Cyprus (Greek part of Cyprus only) which includes Bank of Cyprus, Bank of Piraeus and many more..
1. Establish Cyprus company.
Coast 3 000 EUR.
Requirements:???
How long it will take????
Only requirement is a copy of passport or other photo ID and a utility bill not older than 3 months and in English, alternative a credit card/bank statement. It takes in average 14 business days for the incorporation to take place.
I know that to hire the people the Cyprus company should invest 180 000 EUR.
After I did it, I can assign me self in this company lets ssay as a one of the director.
Can I have any activity does't relate with investment firm activity?
2. Apply for the CyCec license:
Min requirements:????
Not sure where you have the figure of EUR 180.000 from, please see my comment above, You can assign yourself at any time as director of the company. You can have any other activity as you like no limits there.
The min. requirement to apply for the CySec license is to have the company incorporated and the real office in place with staff, also all legal documents and the operations manuals need to be prepared (we will do that together with you) all in all this process takes in average 3 months.
Your fees is 20 000 EUR, what is the scedual of the payment?
After we get license I pay or how?
We will send our engagement letter to you once you decide to proceed, we ask for an EUR 15.000 instalment once you return the engagement letter to us, the rest is payable in 2 other rates outlined in the engagement letter.
3. Get license with Status pending.
To have the right for operation we need complains some requirements.
What are the requirements?
You will need to have the license in place.
I would like to know another options for the FOREX company:
Can you assists with the investment company registered in another jurisdiction?
We can assist with the process in the Seychelles, called a mutual fund, see this link: Seychelles Mutual Funds | Forex Trading | Investment & Financial Companies
Can you assists to get any license in another jurisdictions?
See my comment above...
Can you assists to get bank accounts and processing systems for this company?
Yes we can always assist with the opening of a bank account for a licensed Forex trading company.
For this Kind of company I need 200 000 EUR.
As soon as you handled 3 parties funds the required share capital increase to EUR 1 million
Your fees is 20 000 EUR
This is not a static fee, you will expect a fee in the range of EUR 20.000 to 29.000 depending on the time used, out of experience we charge in average EUR 28.000 for our services including the preparation and submission of all legal documents, operations manual etc.
How much the CyCec fees?
It is about EUR 3000 - 5000 depending on if everything is as expected by them once we submit the application and they come and review the office, again out of experience, this will normally not exceed the EUR 3.000
What is the minimum requirements for the company to apply for license (Reception and transmition and Execution)
What are the requirements for this 3 members?
For example can I be one of this member?
Do you provide bank accounts for CIF?
If yes, what bank and the price.
The min. requirement is an office in Cyprus (real one) with 3 staff members, you can be one of them but need to be present there in about 60% - 80% of the time during a year, not sure if that is possible for you.
We can of course open a bank account for a licensed Forex trading company with all the major banks in Cyprus (Greek part of Cyprus only) which includes Bank of Cyprus, Bank of Piraeus and many more..
1. Establish Cyprus company.
Coast 3 000 EUR.
Requirements:???
How long it will take????
Only requirement is a copy of passport or other photo ID and a utility bill not older than 3 months and in English, alternative a credit card/bank statement. It takes in average 14 business days for the incorporation to take place.
I know that to hire the people the Cyprus company should invest 180 000 EUR.
After I did it, I can assign me self in this company lets ssay as a one of the director.
Can I have any activity does't relate with investment firm activity?
2. Apply for the CyCec license:
Min requirements:????
Not sure where you have the figure of EUR 180.000 from, please see my comment above, You can assign yourself at any time as director of the company. You can have any other activity as you like no limits there.
The min. requirement to apply for the CySec license is to have the company incorporated and the real office in place with staff, also all legal documents and the operations manuals need to be prepared (we will do that together with you) all in all this process takes in average 3 months.
Your fees is 20 000 EUR, what is the scedual of the payment?
After we get license I pay or how?
We will send our engagement letter to you once you decide to proceed, we ask for an EUR 15.000 instalment once you return the engagement letter to us, the rest is payable in 2 other rates outlined in the engagement letter.
3. Get license with Status pending.
To have the right for operation we need complains some requirements.
What are the requirements?
You will need to have the license in place.
I would like to know another options for the FOREX company:
Can you assists with the investment company registered in another jurisdiction?
We can assist with the process in the Seychelles, called a mutual fund, see this link: Seychelles Mutual Funds | Forex Trading | Investment & Financial Companies
Can you assists to get any license in another jurisdictions?
See my comment above...
Can you assists to get bank accounts and processing systems for this company?
Yes we can always assist with the opening of a bank account for a licensed Forex trading company.
Last edited:
Anyone knows companies licensed in Cyprus for Forex Trading? With the money required to establish such a company I would trust them over any other FX company.
For all interested in investing in- or through Forex Trading companies they should check the company here - Cyprus Securities and Exchange Commission if they say they are CySec license they should be public listed there else they are not.
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