Business Consulting

Our specialized team of lawyers, accountants and tax advisors are continuously updated on all areas of the rapidly evolving corporate and fiduciary global agenda, and we feel confident and well equipped to provide advisory services and assist in implementing any request relevant to services stated below:

Financial Services in Cyprus – Cyprus Forex Trading

Our Trusted Partner – a Market Leader

Our Firm proudly announces with sincere gratitude it’s recognition as the selected partner of the leading Company in Cyprus in the field of registration of and comprehensive support to EU Investment Firms, regulated by a number of European Regulatory Authorities (Cyprus, Malta, Ireland, and the UK). Overall, our Partners have registered or consulted/advised the registration of well over 60% of all CIFs registered under the new Law and well over 75% of all FX Brokers in Cyprus!

The Financial Services Advisory Team
As a result, a team of specialized professionals and experienced consultants has been formed, providing full range of consulting and advisory services, related to the establishment/registration and operation of Investment Firms, Forex (FX) Brokerage Firms, Collective Investment Schemes (UCITS and International Collective Investment Schemes) and Banking Institutions in Cyprus and other member states of the EU. All our team members have undertaken thorough and extensive training and are ready to help you with the implementation of MiFID, in Cyprus as well as other member states of the EU.

Register EU Investment Firms (IF) and Cypriot Banks

Our Firm can now help you obtain an EU Banking license in Cyprus, a Cyprus Investment Firm License from CySEC or an EU Investment Firm License from any other EU Authority.   With a team of over 20 expert financial services consultants and advisors, since the implementation of the new legal framework, MiFID (November 2007).

 

Internal Audit, Investigations & Compliance Support Services for European Investment Firms

We provide full and comprehensive Internal Audit, Special Investigations and Compliance Support (MiFID) Services to a great number of European Investment Firms. Our duly certified internal auditors and experienced compliance officers are continuously trained and supported by one of the largest team of experts in the EU to provide to European Investment Firms.

Consulting and Advisory

Our Partners are currently acting as external consultants to a number of existing Investment Firms on increasing spectrum of investment services (extending a license), structuring/restructuring units, procedures updating, internal operations manuals updating and redrafting.

Funds, UCITS and International Collective Investment Schemes

Fund Registration Services Designing and building the scheme structure based on your specific needs Drafting the Offering Memorandum in the most efficient manner, and based on your specific needs Drafting the Memorandum & Articles of Association.

FX Brokerage Firms

The specialized Financial Services Advisory Team supported by our Partners, is currently the only service provider in the region which has been consistently successful in obtaining licenses and registering EU and Cyprus Investment Firms to deal in Forex (Cyprus Forex Trading), under the current EU Law (MiFID).

MiFID

A new directive MiFID was officially adopted on 30 March 2004 which has brought a cyclone of changes for investment service providers. MiFID was transposed into Cypriot legislation with the New Law 144(I) of 2007 (Law which provides for the Provision of Investment Services, the Exercise of Investment Activities, the Operation of Regulated Markets).

Cyprus Investment Firm License from CySEC – EU Banking license in Cyprus

Our Firm together with our Partners helps you obtain an EU Banking license in Cyprus, a Cyprus Investment Firm License from CySEC or an EU Investment Firm License from any other EU Authority.

As previously mentioned, we are the selected Partner of the leader in the field of registration of EU Investment Firms (IF) including Forex Brokers and Market Makers and Cyprus Banks, with a team of over 20 expert financial services consultants and advisors, since the implementation of the new legal framework, MiFID (November 2007).

With a track record of being a promoter/ consultant of over 60% of the Cyprus Investment Firms (CIF) registered under MiFID so far and also successful extension of the license for a number of existing CIFs (NB: extending the license involves a procedure similar to a new registration, as regards procedures and manuals).

Due to this specialization, the long and specific experience in the field, the registration process for all these CIFs has taken minimum time after the submission of the respective application files.

Our services include:

  • Consulting on the form of a financial group’s presence in Cyprus and the rest of the EU (IF, CIF, Investment Branch or other, depending on the Client’s needs)
  • Advisory support towards authorisation and registration of an EU Investment Firm or a Cypriot Banking Institution
  • Preparation of the Application File in accordance with current regulatory requirements, to include, among others:
    1. design and build the IF structure, and based on your needs (in a way that it shall be cost-efficient)
    2. prepare a custom-built Operations Manual, in the most efficient manner, and based on your needs,
    3. prepare the Money Laundering Manual and the Know Your Client (KYC) policies, in the most efficient manner and based on your needs,
    4. prepare the business plan
    5. complete the application form to be submitted to the relevant EU regulatory authority
    6. review the questionnaires of the shareholders, directors and heads of departments of the proposed IF
    7. locate qualified executive and non-executive directors (if needed)
    8. complete the relevant checklists
    9. prepare necessary justifications to be submitted to the relevant EU regulatory authority, as applicable
    10. prepare the letter(s) to accompany the application, in the events that any exceptions may be requested, as applicable
    11. guide you in providing all the necessary documentation and certificates
    12. answer to any relevant questions concerning the application process
    13. undertake to be responding, on your behalf, to the Authority’s queries, and suggestions relating to the application.
  • CIF/IF/Bank registration after the authorisation
  • Locating qualified Directors and personnel for an/a CIF/IF/Bank
  • Full legal, accounting and auditing support of an/a CIF/IF/Bank

Internal Audit, Investigations & Compliance Support Services for European Investment

Internal Audit, Investigations & Compliance Support Services

The specialized team working alongside with our Partners, provides full and comprehensive Internal Audit, Special Investigations and Compliance Support (MiFID) Services to a great number of European Investment Firms. Our duly certified internal auditors and experienced compliance officers are continuously trained and supported by one of the largest team of experts in the EU to provide to European Investment Firms:

  • Full Internal Audit Services, in accordance with the Home State regulatory bodies’ requirements of the financial institution
  • Full range of comprehensive Compliance Support Services (MiFID), by a qualified team of legal experts and professionals
  • Q&A MiFID Compliance e-Support (Urgent Service or 48-hour Service)
  • Special investigations and due diligence of processes and procedures by requests of the Board or Management
  • Preparation and documentation of internal procedures and processes in accordance with client needs and in accordance with the relevant EU regulatory bodies’ requirements
  • Preparation of internal audit reports for management and company’s Internal Audit Committee
  • Systems’ Audit – verification of systems, platforms and computer applications of the Investment Firm. Assessment of their suitability, efficiency, and the level of controls to ensure valid, reliable, timely, and secure input, processing, and output during their operation, in accordance with the requirements of the local regulators
  • Independent ‘compliance checks’ of EU Investment Firms necessary to keep their internal procedures in full compliance with the fast-changing European regulatory environment
  • Provision of on-site personnel for compliance assistance
  • Monthly/quarterly compliance reports
  • Compliance support for KYC and Anti-Money Laundering procedures
  • Q&A Know-Your-Client (KYC) support
  • Assistance in requesting exceptions and extension under the Law, from the relevant EU authorities

Funds, UCITS and International Collective Investment Schemes

International Collective Investment Schemes (ICIS) – UCITS

Fund Registration Services

  • Designing and building the scheme structure based on your specific needs
  • Drafting the Offering Memorandum in the most efficient manner, and based on your specific needs
  • Drafting the Memorandum & Articles of Association and undertaking the registration of a private company with the Company Registrar
  • Based on your needs, complete the application form(s) as well as any relevant and required checklists of the Central Bank of Cyprus and the Cyprus Securities and Exchange Commission
  • Reviewing the questionnaires and other information to be submitted
  • Locating qualified directors
  • Guiding you in providing all the necessary documentation and certificates and undertake to be responding, on your behalf, to the queries of the Central Bank of Cyprus or the Cyprus Securities and Exchange Commission, and their suggestions relating to the application
  • Assisting to opening custodian accounts

Fund Administrative Services

Our Firm and its Partners are ready to assist you with the administration of the day-to-day operations and business and perform general administrative tasks for your ICIS or UCITS, including:

  • Dealing with the ICIS or UCITS correspondence
  • Processing subscriptions
  • Processing Redemptions and withdrawals
  • Computing Net Asset Values
  • Maintaining books and records
  • Disbursing payments
  • Establishing and maintaining accounts of behalf of the ICIS or UCITS and any other matters usually performed for the administration of an ICIS or UCITS

Other Related Services

We offer a number of auxiliary services to ICIS and UCITS. These include:

  • Full audit services to the scheme (including big 4 accounting firm audit, at competitive prices)
  • Full legal support and advice
  • Ongoing regulatory reporting

Markets in Financial Instruments Directive (MiFID)

MiFID

A new directive MiFID was officially adopted on 30 March 2004 which has brought a cyclone of changes for investment service providers. MiFID was transposed into Cypriot legislation with the New Law 144(I) of 2007 (Law which provides for the Provision of Investment Services, the Exercise of Investment Activities, the Operation of Regulated Markets). Our Firm proudly announces that our trusted Partner is evidently the top expert in this field.

Our Legal Department works closely with the Financial Services Advisory Team and offers our clients the following services:

  • Consulting on the form of a financial group’s presence in Cyprus and the rest of the EU (IF, CIF, Investment Branch or other, depending on the Client’s needs)
  • Advisory support towards authorization and registration of an EU Investment Firm
  • Preparation of the application file in accordance with current regulatory requirements
  • Incorporation of documents
  1. Company’s Memorandum and Articles of Association
  2. Business plan
  3. Internal operations manual / internal regulation and relevant procedures
  4. Anti-money laundering provisions
  5. Due diligence provisions
  6. Risk management provisions
  7. Representation of the Client in front of the Cyprus Securities and Exchange Commission (CySEC) and the Central Bank of Cyprus and other EU supervisory authoritiesLegal opinions
  • Drafting of client agreements
  • Drafting of directors’ and executives’ agreements
  • Locating qualified directors and personnel (if needed)
  • Money laundering compliance
  • Supervision issues
  • Advice on capital adequacy directive
  • Advice on merger control/antitrust
  • Compliance with national and EU Laws
  • Accounting and auditing support of an/a IF/Bank

For more information and to compare our prices please feel free to contact us