Cyprus Investment Firms: providing financial services in Cyprus under MiFID

Cyprus Investment Firms (CIF) are companies established in Cyprus and licensed by the Cyrus Securities and Exchange Commission (CySEC) to provide one or more investment services to third parties or/and perform one or more investment activities pursuant to the law. Accordingly, an Investment Firm licensed in Cyprus, can be used for the provision of investment services from Cyprus in all EU markets by simply passporting its license, while it can also offer investment services to third countries. The services can be offered on a cross-border basis or by establishing a physical presence in the jurisdiction into which the services will be provided.

Investment Services subject to authorization by CySEC consist 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.


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Published In: Business Organization Updates, Finance & Banking Updates, Securities Law Updates, Tax Law Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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