Licensed forex broker – CySEC FX Brokerage

If there’s a place in the European Union where forex brokers love to meet – it’s Cyprus.

Why? It’s simple. The country has a long tradition of licensing of forex brokers under the Cyprus Securities and Exchange Commission (CySEC), issuing the first license to Windsor Brokers even in 1988 (of course, the conditions were markedly different at that time).

Since that time, loads of important brokers went there to setup brokerages.

The advantages of a forex brokerage in Cyprus are as follows:

  1. It has a transparent tax system with no hidden additional payments. Corporate tax reaches 12.5%, which is certainly attractive compared to other jurisdictions (e.g. UK has 19%, despite being one of the top attractive financial centers as well).
  2. European Union – it’s simply the fact that Cyprus being a member of the European Union, enjoy the benefit of being under EU directives and regulation (the follow MiFID, MiFIR, MAR etc rules) thus enhancing the reputation of companies setup there to a higher level, and to being among the most popular globally.
  3. Passporting – once you setup a brokerage in any EU country, you can passport it to the other EU countries by simple notification. This means that if a company is authorised to undertake certain activities by the regulator of one EU member state, it can apply for a ‘passport’ to do business throughout the EU without needing further authorization. Now that’s a significant advantage as you get to cover multiple markets under a single license.

To obtain a forex brokerage license in Cyprus, we start by setting up a company and then we proceed with applying for the brokerage license. Part of the application process would require you to have in place appropriate staff, technology, website, liquidity providers and a local office space.

However, these are things you don’t have to worry about – Aniva Consulting will help you take care of it! Simply drop us a line and we will guide you through the procedure until we successfully obtain a license for you.

Licensed electronic money institution (EMI) in Cyprus

Cyprus is a member of the European Union, well reputed and provides a friendly business environment with various tax advantages. It has traditionally been a sort after jurisdiction for businessmen from Russia, Middle East, Africa and Latin America. One of the reasons for this is because licensed companies in the country always had the advantage of being able to leverage on the numerous professionals and communities that can help you boost your business to higher levels.

This applies also to EMIs that are set up in Cyprus. Most of the requirements for an EMI or fintech license are identical with those of other EU countries due the unified regulation. Other requirements to setup an EMI in Cyprus, includes a minimum capital of €350,000, safeguarding and segregation obligations, proper record keeping, e-money reporting, having a local office staffed with adequately knowledgeable and experienced staff, proper internal documentation and a local director and compliance officer.

It might look like a long list, however, Aniva Consulting can help you take care of all these requirements very effectively thanks to its long-term experience and network in the industry.

Once you have an EMI license, you can freely perform the following basic activities:

  1. Remittance
  2. Electronic money issuance
  3. Card acquiring

With a Cyprus e-money institution license, all of these services can be passported to other EU member countries, which allows for great flexibility to grow and expand your business and broadens you potential targeted clientele. With the EU reputation backing your business, expect to quickly gain clientele outside of the EU too.

Take advantage of an EMI in Cyprus – Aniva Consulting, your trusted partner is here to help you through the entire licensing process.

Standard (non-licensed) Cyprus corporation limited by shares

Cyprus has become popular for its friendly environment and with relatively low taxes. Moreover, the country remains part of the European Union, giving it a good reputation and other advantages applicable to being a EU member state.

As a gateway to the EU market for investments from different parts of the world, Cyprus offers you multiple options that will help enhance your business’ growth while you take advantage of the many favorable conditions that Cyprus has to offer.

It’s worth noting that some of the tax advantages in Cyprus include a corporate tax rate of 12.5%, the ability to incorporate a company remotely, 0% tax on dividend payments (when Cypriot company pays its foreign shareholders or when received from global subsidiaries along with other conditions), 0% tax on profits from trading its own shares along with very friendly double tax treaty network.

For a company setup, the shareholder may be an individual, a company or even a trust. There must be at least 1 director who may be an individual or a corporate entity. Where a local resident is appointed as a director, the company may be registered as being tax resident in Cyprus. A company secretary is also required along with a registered business address. All books of accounts, registers and company seal would need held at this business address.

Sounds interesting and you want to know more or simply take advantage of the friendly business regime in Cyprus? Contact us at Aniva Consulting for additional information and we will help you set up your Cyprus company with ease!

Bank account (for local company only) in a Cypriot bank or outside of Cyprus

Struggling to open a bank account for your company? Or do you have problems with finding a specific currency account or omnibus account?

This is exactly what our experts from the payments industry at Aniva Consulting do. Just let us know your requirements and we will work with you to liaise with financial institutions and banks that would be interested in opening an account to meet your business scope.

Getting a bank account has become a struggle for many companies and even more for financial or payment institutions (but also others). As the AML/CFT legislation is evolving each year, impact of these changes is felt in financial industry, but also in any other areas, including standard accounts, alternative payment methods, but also correspondent banking (yes, even banks have problems with bank accounts!).

With Aniva Consulting, you can always be sure that our experts will ensure and care to have your account opened in a suitable institution to advance your business needs. You just have to express your needs and we will put our maximum efforts into finding the best suitable institutions to cover your business according to your wishes.

AML/CFT and regulatory compliance

Nowadays, there’s no doubt that each financial, payment institution or companies from other industries face compliance issues, that occur on a regular basis. Thus, the very real need for a proper compliance system set up within the company. This is related to both, anti-money laundering and counter-terrorism financing (AML/CFT) activities as well as to regulatory compliance.

But why struggle to set all this up on your own? Our team of AML/CFT experts at Aniva Consulting are here to help you create a robust and fully compliant AML/CFT system. Don’t hesitate to contact us!

The AML/CFT area has become one of the most focused areas among regulatory bodies in all developed countries and the main challenge for most payment and capital markets (or other financial) institutions. Nevertheless, our experienced team is ready to provide you the helping hand you need in this area, and we will assist you to set up your system properly in accordance with the expectations of your regulatory body, so you don’t have to be worried about significant deficiencies that might bring you trouble.

Our team of AML/CFT experts have extensive experience in preparing AML policies and procedures and rich experiences with the setup of AML/CFT systems in different types of payment and capital market institutions in various jurisdictions, you can feel more than safe with the quality of the AML/CFT system we will design for you and be assured it will be to a quality standard that more than meets our regulatory body’s requirements.

Moreover, regulatory compliance comprises the preparation of various different reports, which our team of experienced personnel will take care of for you instead of you having to create, train and supervise a team of your own. Ensure good relations with your regulatory body through a proper AML/CFT system – our consultants are here to share their experiences and help you to always remain compliant.

AML/CFT and payment services gap analysis

Each company has its own desired outcome in its business plan or in the minds of their founders or directors. However, the reality tends to be different or deviates to a certain extent from your business goals. While many will accept it as a natural and expected phenomenon, but what if you could achieve your desired company outcomes?

There’s often a gap between “where we are” and “where we want to be.” You’ll never get rid of it, however, let’s make it as narrow as possible!

Payment and financial institutions may face deficiencies in different areas, however, now the most important and business-crucial ones are the deficiencies in the AML/CFT and payments area. Struggling with account opening or onboarding a client due to AML/CFT issues might affect business adversely or even existentially, therefore, it is necessary to remove such obstacles to be able to move the company forward.

Our team is aware of this necessity and is ready to perform full-scale gap analysis of your company and activities using data and statistics from previous periods. We will then help you close the gap and remedy the situation with additional options of opening necessary accounts with the improvements implemented.

Don’t hesitate to reach your goals – with our assistance, you will be closer than ever before!

AML/CFT training

An effective AML/CFT system does not only consist of having a proper set of rules, rather it heavily relies on the people who make up your compliance team. And these people need to have proper experiences and updated knowledge – this can only be achieved through constant and timely AML/CFT training, done either in person or regularly online.

Consultants from Aniva Consulting possess multi-year experiences from payments and capital markets industry in the area of AML/CFT, and we are ready to share our knowledge and experiences with your staff and teams.

You can gain knowledge much faster and satisfy your regulatory / supervisory body with the level AMF/CFT compliance knowledge your internal teams and skilled personnel possess. All payments and financial institutions need to have their customer facing staff, operation personnel, compliance department, third line of defense (internal audit) staff and senior management with board of directors aware of potential AML/CFT issues.

As this area has become a serious concern in the eyes of supervisory bodies and banks, it’s necessary to prepare your infrastructure and know-how of your personnel.

Don’t waste your time and resources – you can increase the knowledge of your staff more effectively and in short-time, while developing high quality AML/CFT compliance know-how in-house! Contact us at Aniva Consulting and together, we’ll make it happen!

Corporate admin in relation to a Cypriot company

One of the most time-consuming part of every business is the incredible mountains of paperwork that inevitably needs to be handled to remain compliant with local company law requirements. This administrative work occupies and takes up your existing personnel resources and human resource funding which could be used towards increase sales or marketing personnel headcount. Or are you a new company looking to keep a low headcount while remaining statutorily compliant with local mandatory requirements?

Your time and that of your staff are precious – leave the corporate administration to Aniva Consulting and focus on your business and profit!

Not only licensed companies in the area of payments or capital markets, but also standard ones require hard work and dedicated corporate admin teams to meet all the mandatory requirements not only during their formation, but also on an ongoing basis. Setting up such teams takes time, money and multiple error corrections before an effective system can be set up. Why not solve this easily through the help of Aniva Consulting’s team of experienced personnel who will care for your company’s corporate admin needs as well as communication with relevant authorities.

Where you would like to have your own in-house teams, Aniva Consulting’s consultants are ready to provide you with consultancy assistance to help you with the storage of all relevant client documents, their preparations, certifications, reporting or warning you about mandatory deadlines. In this way, we will be your second line of defence and you don’t have to rely solely only on your employees. You can be sure then that you meet the expectations of your supervisory body.

Don’t waste time on paperwork – focus on your profit and Aniva Consulting will take care of the rest!

Obtaining legal, tax, accounting or audit assistance for clients

A natural part of each business is regular legal and tax advisory that’s necessary to properly run a business. This might be to purely consult on specific activities, a new type of business concern or certain issues have arisen in connection with your supervisory body. The same applies to taxes where prevention is always better that any kind of sanctions.

Feeling uncertain about any legal issues, accounting or tax questions? Do you require an AML/CFT compliance auditor? Ask Aniva Consulting for assistance!

It’s only natural that business expansion will result in new questions which will require additional and more specific consulting or advisory on. Our experts from both fields have a global network of advisors who are sound professionals in their own regard. We will assist you by sourcing the best suited advisors to match your needs and provide a list of carefully selected advisors who will assist to solve your specific issue.

Having solved various payments or capital market industry concerns and possibly similar issues to what you might have now, our consultants know exactly where to find the right answer and who to connect you with, thus providing you with a one-stop-solution, so you can save time finding the right lawyer or tax advisor. Our network already comprises expert in all the necessary areas for your business.

Avoid the long and costly search for the right person, ask our consultants – we will get you the right advice immediately!

Get a personal consultation.

We will take care of your business setup requirements.