What is a CIF?
A Cyprus Investment Firm (CIF) is licensed and supervised by the Cyprus Securities and Exchange Commission (CySEC) under Law 87(I)/2017 regarding the provision of investment services, the exercise of investment activities and the operation of regulated markets, which is the national transposition of Directive 2014/65/EU of the European Parliament and of the Council on markets in financial instruments (MiFID II).
Once licensed, a CIF is able to freely provide investment services through representative and branch offices across 30 EU and EEA member states via the EU Passporting System for Investment Firms.
CIF licensing services
MAP S.Platis is the acknowledged leader in the field of registration and licensing of CIFs regulated by CySEC, and remains the only consultancy firm, to-date, which consistently succeeds in registering CIFs under the applicable European legislative framework.
With an impeccable 100% success rate, MAP S.Platis has consulted over 60% of all licenses issued by CySEC under the Markets in Financial Instruments Directive (MiFID), as well as the successful extension of existing licences for a number of CIFs.
Due to our expertise and extensive know-how in the field, the licensing process for all our clients takes minimum time for approval, following the submission of the respective application files to CySEC.
Our CIF licensing services include amongst others:
- Advise on how to structure your business model to meet regulatory requirements, while at the same time achieve cost efficiency for your intended operations in Cyprus.
- Guidance and advice to deliver the required documents and information for completing your CIF application package to ensure your application material will meet the relevant regulatory requirements before being submitted to CySEC for assessment.
- Assistance with the preparation and review of all required manuals that have to be part of the application package, including the business plan, internal operations manual, anti-money laundering manual as well as completion of the relevant application forms and checklists.
- Help with locating qualified executive and non-executive directors, if needed.
- Opening of a corporate bank account with a local bank for the applicant company to deposit the required initial capital of the applicant.
- Act as promoters of the application in front of CySEC, and undertake to reply to any questions or requests for additional information/clarifications from CySEC during the period the application file will be under evaluation; up to the final decision for the granting of the licence.
CIF support services
MAP S.Platis expert team can also assist and support established CIFs with the preparation and promotion of notifications to CySEC for.
- Extending existing CIF authorizations to include additional investment and/or ancillary services.
- Establishing branches or appointing Tied Agents abroad, or the offering of services on a cross border basis.
- Effecting changes to the members of their management board and/or changes to their shareholding structure.
Obtain Your Cyprus Investment Firm license
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