Register of Ultimate Beneficial Owners in Cyprus

Register of Ultimate Beneficial Owners in Cyprus – what you should know

What is the Ultimate Beneficial Owner register? The Ultimate Beneficial Owner (“UBO”) register is a national database containing information regarding UBOs. The implementation of the UBO register is a requirement under the 4th AML Directive (Directive 2015/849). Cyprus implemented the UBO register by designating the Department of Registrar of Companies and Official Receiver (the “Registrar”)…

The Blockchain Awakening

The Blockchain Awakening

Last week the “The Blockchain Awakening” event took place in Limassol at Atlantica Miramare Beach Hotel. The conference aimed to educate participants about cryptocurrencies and the applications of blockchain technology. Esteem speakers Giorgos Agathangelou, Kambiz Djafari and Bogdan Maslesa provided excellent presentation providing partakers with an inside on the recent developments on virtual currencies and current…

3rd International Funds Summit

3rd International Funds Summit – Review

The 3rd International Funds Summit, organized by the Cyprus Investment Funds Association (“CIFA”), was held in Limassol between 29-31 October 2017. The Summit’s core topics included the development of the regulatory environment in Europe, Asia and Africa, in relation to Funds and their operation across these continents. The technological developments around financial services. The current…

Investment Routes to Cyprus Citizenship

Investment Routes to Cyprus Citizenship

By far, only three EU countries offer investor immigration program along with immediate citizenship, with Cyprus making the most compelling case. Not only does Cyprus boasts of the fastest application processing time and an EU passport with visa-free travel possibilities, but also offers a plethora of other perks to those seeking Cyprus citizenship. The strategic…

CX Financia - Company Overview

C.X. Financia – Company Overview

C.X. Financia is a boutique consulting Cyprus firm that offers reliable legal and regulatory compliance services. We assist corporations and high-net-worth individuals from around the world in setting up new businesses and obtaining appropriate licenses so that they can grow into successful, compliant businesses. We envision ourselves as an empowering member of the business community,…

New Passporting Guidelines – C233

With the issue of CySEC Circular 233 – MiFID II Main changes in relation to passporting issues and new notification forms, CySEC draws the attention of Cypriot Investment Firms to the new conditions required under MiFID II for the cross-border provision of their products and services to member states. Under MiFID II Investment Firms are…

Post Brexit Jurisdiction Option

Post Brexit Jurisdiction Option

Since the UK has confirmed its plans to leave the single market, many UK regulated financial services firms risk losing access to EU markets and clients. As such, these firms are avidly looking for alternative jurisdictions for business. A combination of several favourable factors has led to Cyprus to become a popular jurisdiction among investors…