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Practical commentary on the legal developments that affect businesses and individuals in Cyprus.
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Banking & Finance
Advantages of Cyprus as Alternative Investment Fund (AIF) base. An investment fund is, in essence, a vehicle for collective investment by two or more investors whose money is invested on a pooled basis on their behalf by an investment manager, in return for a fee. The Alternative Investment Funds Law was enacted in July 2014… Read More
Banking & Finance
Regulation. Cyprus Investment Firms (CIFs) are regulated by the Cyprus Securities and Exchange Commission (CySEC), under the CIFs and Investments Firms Law. The CIFs that offer the services that are listed in Appendix 1 must obtain a license from CySEC. The term "investment firm" includes, amongst others, portfolio managers, broker companies, investment advisers, forex trading companies and binary
Banking & Finance
The Alternative Investment Funds Law. The passing of the Alternative Investment Funds Law in July 2018 has been welcomed as a significant development that modernized the Cyprus's regulatory framework as regards alternative investment funds. Advantages of setting up a Alternative Investment Fund in Cyprus. The legal regime which is in line with the relevant EU Directives, coupled… Read More
Banking & Finance
The Registered Alternative Investment Fund (RAIF). The Alternative Investment Funds Law 2018 (AIF Law, Law 124(I)2018), that came into force on 31/07/2018 introduced a new fund management vehicle known as the Registered Alternative Investment Fund (RAIF). A major advantage of the RAIFs is that they do not require formal permission by the Cyprus Securities and… Read More
Banking & Finance
Legal Update: 23/06/2021 The Cyprus Securities and Exchange Commission (“CySec”), being the competent independent authority for maintaining and operating the Trusts UBO Registry as required by the transposition of the 5th Anti – Money Laundering Directive (“5AMLD”) announced on 18/06/2021, the issuance of its Directive for the prevention and suppression of money laundering and… Read More
Banking & Finance
As at July 2019. I am publishing this article as additional guidance to our clients that operate a bank account through a company in Cyprus or wish to open a new one. I have divided my article to two main headings. Opening a bank account with a commercial bank and Opening a bank account with… Read More
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