Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 15 MARCH 2022

CySEC Redefined Threshold Criteria For ‘Significant CIFs'

AGPLAW | A.G. Paphitis & Co. LLC
AGPLAW | A.G. Paphitis & Co. LLC
Contributor
AGPLAW | A.G. Paphitis & Co. LLC

AGPLAW | A.G. Paphitis & Co. LLC

Established in 2006, AGPLAW is a full-service, award-winning and committed to excellence law firm...

View firm profile
Explore more from AGPLAW | A.G. Paphitis & Co. LLC

On the 10th of February 2022, CySEC published a new Circular C487 redefining the threshold criteria for determining which Cyprus Investment Firms (CIFs) are considered as ‘Significant CIF'.

CyprusCorporate/Commercial Law
AGP Law/ A.G. Paphitis & Co. LLC
AGP Law/ A.G. Paphitis & Co. LLC
Author LinkedIn connections

On the 10th of February 2022, CySEC published a new Circular C487 redefining the threshold criteria for determining which Cyprus Investment Firms (CIFs) are considered as 'Significant CIF'.

A CIF shall be considered as a 'Significant CIF' where its on and off-balance sheet assets are on average greater than 100 million EUR over the four-year period immediately preceding the given financial year.

CIFs should decide within four months of the completion of a financial year whether they meet the threshold criteria of a 'significant CIF' or not. In case a CIF meets those criteria, it should take all the necessary steps to comply with the requirements applicable to 'significant CIFs' as per the Investment Services Law and Prudential Law as well as inform CySEC accordingly submitting their new organizational structural.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

Breach Of Contract Claims In Cyprus: Remedies, Damages And Time Limits

Contracts govern nearly every commercial and private transaction in Cyprus, from business relationships to property sales. When one party fails to perform, performs inadequately, or refuses to honour obligations, the other may have a claim for breach of contract. However, establishing a breach is only part of the issue—determining whether a legally enforceable contract existed, what obligations arose, whether termination is justified, what losses were caused, and which remedies are available requires
CyprusCorporate/Commercial Law
A. Danos & Associates LLC
A. Danos & Associates LLC
Article

Company Redomiciliation To Cyprus: The Tax Case, The Decision And The Process

Cyprus company redomiciliation transfers a foreign company's registered office to Cyprus without dissolving it, preserving legal identity, contracts, assets and trading history. The process requires careful analysis of tax implications, asset valuation rules under Article 33B(3), and substance requirements to determine whether continuation is commercially worthwhile compared to incorporating a new Cyprus entity.
CyprusCorporate/Commercial Law
Nikita & Partners Limited
Nikita & Partners Limited
Article

Branch Or Subsidiary In Cyprus: Legal Framework And Key Considerations For Foreign Companies

A foreign company establishing a permanent presence in Cyprus will usually consider either registering a branch or incorporating a Cyprus subsidiary. Both structures permit business to be carried on from Cyprus, but they are legally different. A branch remains part of the foreign company, while a subsidiary is a separate Cyprus company even if the foreign parent owns all of its shares.
CyprusCorporate/Commercial Law
A. Danos & Associates LLC
A. Danos & Associates LLC
Article

Cyprus Citizenship For Highly Skilled Employees

Cyprus has introduced an accelerated citizenship pathway for highly skilled foreign employees working for qualifying companies in the Republic. This framework, sometimes called the "Golden Knowledge" route, allows eligible professionals to obtain citizenship after four or five years of qualifying residence, depending on their Greek language proficiency. The regime represents a significant development for international professionals who have established their careers and lives in Cyprus.
CyprusImmigration
AGPLAW | A.G. Paphitis & Co. LLC
AGPLAW | A.G. Paphitis & Co. LLC
Article

MiCA’s Transition Ends On 1 July 2026. Is Your Crypto Business Authorised To Continue?

The EU's Markets in Crypto Assets Regulation (MiCA) transitional period expires on 1 July 2026, marking a critical deadline for crypto-asset service providers operating in Europe. Without proper MiCA authorisation by this date, businesses must cease operations and implement orderly wind-down procedures, as pending applications do not grant permission to continue providing services. This comprehensive analysis examines the regulatory requirements, compliance obligations, and strategic considerations for cryp
CyprusFinance and Banking
AGPLAW | A.G. Paphitis & Co. LLC
AGPLAW | A.G. Paphitis & Co. LLC
Article

Can Cyprus Become A True Fintech Banking Hub?

Cyprus is evolving from a jurisdiction that simply attracts fintech licenses to one building genuine European fintech infrastructure. With new regulatory frameworks including PSD3, DORA, and MiCA converging, the country faces a critical question: can it develop the banking relationships, payment systems access, and institutional depth required to transform licensed entities into a truly interconnected financial ecosystem?
CyprusFinance and Banking
AGPLAW | A.G. Paphitis & Co. LLC
AGPLAW | A.G. Paphitis & Co. LLC
Article

Crypto Fraud, Cold Calls And “Recovery” Scams In Cyprus. Why Victims Must Act Fast

Cryptocurrency fraud victims in Cyprus are increasingly targeted by sophisticated "recovery" scams involving cold calls, remote access requests, and false promises to retrieve lost digital assets. Recent court cases demonstrate that while recovery is not guaranteed, victims who preserve evidence and act quickly may have realistic legal options through Cyprus courts, including freezing orders, disclosure relief, and asset preservation measures.
CyprusCriminal Law
AGPLAW | A.G. Paphitis & Co. LLC
AGPLAW | A.G. Paphitis & Co. LLC
Article

What The Jautiva Ruling Means For Shareholder Privacy

The Court of Justice's Jautiva ruling has clarified that EU company law does not require unrestricted online access to shareholder personal information, even when corporate transparency and anti-money laundering objectives are invoked. Cyprus businesses must now reconsider how they balance statutory filing obligations with data protection principles, particularly when shareholder records can be downloaded in bulk without safeguards. This analysis examines what the judgment means for corporate disclosure pra
CyprusPrivacy
AGPLAW | A.G. Paphitis & Co. LLC
AGPLAW | A.G. Paphitis & Co. LLC