logo
mobile logo
 

Blog

Michalaki Pitsillidou Rozen Law Firm >  Blog
08 February
0 Comments
Sticky

How to obtain Seychelles Securities Dealer License

Posted by admin
in English Articles

Non bank financial services in Seychelles are regulated by the Seychelles Financial Services Authority which was established under the Financial Services Authority Act, 2013 and is responsible for licensing and supervising securities dealers. Also under the Securities Act, 2007 is responsible for the registrations of Foundations, International Trusts, International Business Companies and Limited Partnerships. Corporate information   The company that will obtain the Dealer License must be incorporated in Seychelles Nature of business of the company must be specified clearly under the Memorandum of Company The company needs to offices or premises in Seychelles to keep company records. 2 experienced individuals regarding...

Continue reading
07 February
0 Comments
Sticky

New proposed rules published by CySEC governing the use of Liquidity Providers and Market Makers by regulated brokers in Cyprus

Posted by admin
in English Articles

CySEC has issued a consultation paper regarding new proposed rules governing the use of Liquidity Providers and Market Makers by regulated brokers in Cyprus. The new rules as published by CySEC would still allow Retail Forex brokers in Cyprus to have liquidity and market making relationships with entities outside Cyprus and outside the European Union (of which Cyprus is a member). Foreign LPs or market makers used, must be ones properly licensed and regulated in their home countries. The new rules will also require brokers to be transparent about their trade flow. It should be clear to clients what the broker’s hedging arrangements are,...

Continue reading
06 February
0 Comments
Sticky

Cyprus IBC – International Business Companies

Posted by admin
in English Articles

What is an IBC Company? An international business company or international business corporation (IBC) is an offshore company formed under the laws of some jurisdictions as a tax neutral company which is usually limited in terms of the activities it may conduct in, but not necessarily from, the jurisdiction in which it is incorporated. One of the most common examples that an IBC Company can be used is in International trading where is one of the most commonly used examples where a Cyprus IBC Company can be used. An intermediary Cyprus IBC can be placed in between a Buyer and a Seller. In this way, taxable profits can be transferred...

Continue reading
05 February
0 Comments
Sticky

Cyprus and Jersey signed on Monday an agreement on the Avoidance of Double Taxation on Income.

Posted by admin
in English Articles

According to an announcement by the Ministry of Finance, the text agreed between the two negotiating teams of the two countries will contribute to further developing trade and economic relations between Cyprus and Jersey as well as with other countries. The Ministry also notes that updating, maintenance and expansion of existing agreements' network on double taxation, which is of great economic and political importance, aims to enhance and attract foreign investment and promote Cyprus as an international business center. The agreement is based on OECD Model Convention for the Avoidance of Double Taxation on Income and on Capital. For more information and guidance get in...

Continue reading
01 February
0 Comments
Sticky

CIF’s reporting to CySec

Posted by admin
in English Articles

CySEC demands all Forex Brokers to report Brexit effects. Cyprus financial regulator CySEC has issued a note to all regulated entities on the island, asking them to report the effect of post-Brexit vote trading. The note, signed by CySEC Chairman Demetra Kalogerou, asks all CIF regulated entities to report the amount of their own funds, and also their capital adequacy ratio to CySEC. It appears as if CySEC wants to find out right away if there are any brokers out there with a ‘negative client balances’ problem, as happened to several brokers last year in the aftermath of the Swiss Franc spike. Cyprus continous...

Continue reading
Translate »