Investment firms are regulated by the Cyprus Securities and Exchange Commission CySECunder the CIFs and Investments Firms Cyprus. The investment firms that offer the services that are listed in Appendix 1 must obtain a license from CySEC. For CySEC to grant CIF authorisation, a formal application procedure needs to be followed, and certain requirements must be met, the most important of which are stated below. The reception and transmission of orders in relation to financial instruments; ii. The execution of orders on behalf of clients; iii. Dealing on own account; ii. The majority of the members shall be Cyprus residents. Our firm has experience of setting up a Cyprus Investment Firm. We appoint a local firms firm to assist us with the preparation of the special memorandum and articles of the company. After examination and resolution of any issues, CySEC authorises the CIF and cyprus it a licence. The above cyprus, from commencement to final approval by CySEC can be completed in about months. However, gains from the sale of titles, and, in most cases, dividends received are exempt from tax. All other gains of a capital nature are not taxable. Value Added Tax issues can be very complex for a CIF, due to the fact that some of the services offered by the CIF could be taxable, and others exempt. We will be happy to provide advice on all VAT issues. Our fee for obtaining a CIF licence depends on the number of licenced services the CIF will offer. We provide a full administration, tax, VAT, anti-money laundering compliance, accounting, and internal and statutory audit service. The cost will depend mainly on the type and size of the CIF and the level of activity. Our fee is quoted on a case firms case basis. A CIF will need to maintain a minimal physical presence in Cyprus, in order to maintain its license. Outsourcing is allowed to a degree, but some personnel are forex required to be cyprus in Cyprus. Download Setting Up A Cyprus Investment Firm CIF pdf. Each member firm of Crowe Horwath is a separate and independent legal entity. Horwath DSP Limited firms a private limited liability company registered in Cyprus under number This website does not purport to give tax or legal advice, and should not be construed as such. Whilst we have endeavoured to verify the accuracy of the contents of forex website, we do not accept any legal responsibility for any particular forex therin. Services Audit Audit and Assurance Services Tax Tax Consulting VAT Services Shipping Forex Tax Facts Advisory Global Firms Consulting Services Risk Enterprise Risk Management Energy Sector Services Business Services Human Capital Setting up a Business in Cyprus Investment Fund Services Forex Services Cyprus Citizenship and Residency Services Firms Overview Insights Overview News Room Overview About Overview Meet our people History Awards Careers Overview Contact Us Contact Us Form. Capital Requirements The minimum capital requirement for a CIF depends on the type of services offered: Other Requirements a When applying for a license, a firm must provide, amongst other documents, a business plan, an operations manual which should include the Anti-Money Laundering Procedures, completed questionnaires from the members of the board, managers and shareholders. TIME FRAME Our firm has experience of setting up a Cyprus Investment Firm. TAXES IN CYPRUS a. There is no withholding tax on dividend, interest and royalties paid to non-residents. VAT Value Added Tax cyprus can be very complex for a CIF, due to the fact that some of the services offered by the CIF could be taxable, and others exempt. FEES AND CHARGES 1. Costs of setup and obtaining CIF authorisation: CIF costs to be included in the financial planning A CIF will need to maintain a minimal physical presence in Cyprus, in order to maintain its license. We use cookies on this website to give you the very best experience. You can change your cookie settings at any time using your browser settings.
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