CySEC licenses Cyprus financial firms across three categories: CIF (investment services like forex/CFD brokerage — capital from €125k to €730k), EMI (e-money issuance — capital €350k), PI (payment services — capital €20k to €125k). Application timeline 6-12 months. This guide covers: capital adequacy planning, board fit-and-proper requirements, compliance officer hiring, IT/AML system specifications.
CIF capital requirements per service type?
€125k: reception and transmission of orders, investment advice, portfolio management. €730k: dealing on own account, market making, underwriting. Initial capital must be unencumbered and verifiable. €730k → full investment firm with own trading book.
How long does the application take?
6-12 months typical: pre-application meeting with CySEC (1 month), submission of business plan + financials + management CVs (2-3 months), CySEC review with Q&A rounds (3-6 months), approval + operational readiness (1-2 months). Plan for ~9 months realistic.
Who can be a CySEC-approved compliance officer?
Cyprus-resident professional, finance/law/economics degree minimum, 5+ years AML/compliance experience, CySEC AML certification within 12 months of appointment. Cannot be the CEO or business head. Reports directly to the Board.
The 4b2b ecosystem covers every topic described here.
