Investment Firm of a Branch in Cyprus
What rights have the Investment Firms of member states and third countries according to the law?
An Investment Firm may provide an investment or other services through the establishment of a Branch in Cyprus. These services and activities are covered by the authorization granted to the Cyprus Investment Firm (CIF).
Furthermore, an Investment Firm aims to establish a branch in Cyprus, by notifying the writing of intention the ‘Cyprus Securities and Exchange Commission’ (Cysec), as well as the following information with regards to the branch:
- The address
- The persons responsible for its management and the organizational structure.
- The program of operations setting out (the investment and the ancillary services) that it intends to provide investment activities.
Cysec, within three months from receiving the abovementioned information shall announce its decision to the Investment Firm to allow the establishment of the branch (only in case which there is not any doubt about the administrative structure or the financial situation of the Investment Firm.
Additionally, an Investment Firm which is authorized to execute client’s orders or to deal on own account in another member state, may, become a member or have access to a regulated market authorized by the CySec Commission in the following ways:
- Directly by setting up a branch in the Republic of Cyprus.
- By becoming a member or having access to the regulated market without having to be established in the Republic of Cyprus where the trading procedures and systems of the abovementioned market do not require a physical presence for conclusion of transactions on the market.
For more information and guidance please email iMPK Global Business Law Firm – Cyprus Lawyers, at firstname.lastname@example.org or visit our website at www.impklawyers.com.Tel. +357 99345000 – Fax +357 25 660097.