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Cyprus Investment Firms ("CIFs")

Cypriot Investment Firm or "CIF" refers to the company that is established in the Republic of Cyprus and is authorised by the Cyprus Securities and Exchange Commission to provide one or more investment services to third parties or/and perform one or more investment activities. The Investment Firms Law 144(I)/2007 provides the legal framework for the provision of investment services as well as for the registration, regulation of operations and supervision of CIFs.

With the Cyprus accession in European Union in 2004, Cyprus has become an attractive jurisdiction for operating an Investment Firm (IF). The reason is due mainly to the fact that a Cypriot IF can obtain a European passport for providing investment services to all other 27 European members, thus avoiding more costs related to setting up and having costly operations from countries with higher tax and higher costs.

A Cyprus resident company, as in the case of an investment firm established in Cyprus, can benefit from the tax advantages along with the benefits offered from the double taxation treaties of Cyprus.

Investment services include any of the following services:

  • Reception and transmission of orders in relation to one or more financial instruments
  • Execution of orders on behalf of clients
  • Dealing on own account
  • Portfolio management
  • Investment advice
  • Underwriting of financial instruments and/or placing of financial instruments on a firm commitment basis
  • Placing of financial instruments without a firm commitment basis
  • Operation of Multilateral Trading Facility

Non-core services include any of the following services:

  • Safekeeping and administration in relation to one or more financial instruments
  • Safe custody services
  • Granting of credits or loans to clients to enable them to carry out transactions in one or more financial instruments, where the firm granting the credit or loan is involved in the transaction
  • Advice to undertakings on capital structure, industrial strategy and related matters and advice and services relating to mergers and acquisitions
  • Services connected to underwriting
  • Investment advice concerning one or more financial instruments
  • Foreign-exchange services where these are connected with the provision of investment services

 

Services offered by our office:

We can provide assistance for the efficient management of the application process, ensure that appropriate corporate and organisational structure exists and provides the basis for efficient and effective operations. Exertus maintains a network of experienced specialists with international and local expertise that can assist an Investment Firm in addressing all necessary aspects for the establishment and operation of Investment Services in Cyprus. We can provide a One stop solution for all matters arising for the Compliance with statutory filing deadlines.

We can provide services through our network of specialists for CIF authorisation by assisting in one or more of the following areas:

  • Handling of all documents necessary for the proper administration of the application
  • Design and implementation of an appropriate corporate and organisational structure
  • Preparation of the business plan that will accommodate the application documents
  • Design of internal procedures manual for all processes of the CIF
  • Outsourcing or assistance for selected non-core functions of the company

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