Setting Up A Forex Company In Cyprus

Cyprus is an increasingly popular destination for setting up Forex companies due to the country's attractive tax regime and reputation as a financial centre. Forex companies are considered to be Cyprus Investments Firms and therefore are regulated by the Cyprus Securities and Exchange Commission (CySEC). To set up a Forex company a license is required by CYSEC and the process to obtain such a license involves several steps and conditions. As Forex companies are investment firms with a high degree of responsibility, the process to set up a Forex company is more complex and time consuming than setting up a common company.

Share capital requirements vary depending on the type of investment firm and the services to be provided. A company that will only deal with portfolio management and offer investment advice, only requires a minimum share capital of 50.000 Euros. However, companies that operate a multilateral trading facility require a share capital of 730.000 Euros.