Client case May 2015 - Forming a Financial Service Company, what's our options?

[JohnLocke]

Hello.


We wonder if you could assist clients in applying for these five kinds of Cyprus License:


1) General and financial consultancy.


2) Gold sliver and platinum transactions


3) Factoring, payments processing, online processing systems and collection of debts


4) Taking money from third parties


5) Forex License


If so, what are the fees, requirements, time frame and restrictions, if any?


Looking forward to hearing from you soon.

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[JohnLocke]

CCLOGIC Agent Answer:


Thank you for your interest in our services and the formation of a company in Cyprus including the obtaining of a Financial Service License - CySec License.


We can actually assist in the formation of a company in Cyprus and to obtain a Financial license for this company for the following business:


1) General and financial consultancy.


2) Gold sliver and platinum transactions


3) Factoring, payments processing, online processing systems and collection of debts


4) Taking money from third parties


5) Forex License


There are different requirements in order to obtain such license depending on what business we speak, for instant business type 1 don't require a license while the businesses mentioned in point 2 - 5 requires a license by CySec.


And detailed overview can be found at our website here, /forum/articles/59554-forex-fund-management-company-in-the-seychelles-or-cyprus-please-read


Generally speaking our fee for achieving the license is EUR 30,000 - 35,000 and the required share capital is EUR 80,000 - 250,000 which has to be paid in to the companies bank account once it is operative. There is a requirement to a office that operates in Cyprus, we can assist with this part as well, the fee depends on the office building we can find and what else you may require.


From past experience such a setup costs in fee aprox EUR 50,000 - 60,000 + share capital that has to be paid in but can be used for office supply etc.


We will be posting more in this case in a few days.!!

Last edited: May 29, 2016
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[JohnLocke]

Client reply:


Thank you for your reply.


If we have this license, that's mean we can do the following business:


1) General and financial consultancy.


2) Gold sliver and platinum transactions


3) Factoring, payments processing, online processing systems and collection of debts


4) Taking money from third parties


5) Forex License


Is it correct?


And, do we need to set up any psychical office there?


Look forward to hearing from you soon.

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Disclaimer: Nothing I say should be taken as tax, legal or financial advice. Anything I say is for general informational purposes only. Always seek independent professional advice.​