Foreign investors interested in investing in Cyprus can also set up a forex company, which carries out activities on the local and international trading markets. A forex company provides assistance to other investors, by offering advice on investment opportunities in the forex market. A forex market refers at the activity in which the currencies available in jurisdictions around the world are traded. A as general rule, forex markets are opened 24 hours a day, working five days a week. Forex companies are required to obtain special permits for their activities and our team of Cyprus company formation representativescan provide assistance in this matter.
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Incorporate a Cypriot forex company
Although most of the companies are registered following the same procedure, the forex company is incorporated in a different manner, as it must comply with both the regulations prescribed by the Cypriot Company Law, as well as with those regulating the investment activities.
The registration process starts following the classical approach, applicable to all companies with operations in Cyprus. The company will have to be registered under a legal entity, receive approval from the Registrar of Companies for the proposed trading name of the business or prepare the statutory documents, which must be drafted under the assistance of a legal specialist.
Further on, the company’s documents will have to be submitted at the Registrar of Companies.
Companies with commercial activities are required to register for tax purposes and for social contributions. It is also necessary to have a business address and to set up a corporate bank account for the newly incorporated companyour team of Cypriot company formation agentscan offer more details on this matter.
Obtain permits for a forex company in Cyprus
After the registration procedure is completed, the investor will need to obtain a Forex Trading License, which is issued by the Cyprus Securities and Exchange Commission.
It is important to know that the minimum share capital of the companyis set up in order with the specific activities of the business (such as investment advice for investors or trading activities through a forex platform). The 2014 Law on the Investment Services and Activities and Regulated Markets provides the provisions for the share capital.
Businessmen interested in receiving more details on the forex companies in Cyprus can address to our team of Cyprus company formation consultants.