With the recent high demand of establishing Forex Trading companies for the purpose of trading currencies on behalf of a small, medium or even public unnumbered sum of investor(s) group(s), we feel it is time to outline a few things for the many people and businesses interested in the obtaining of a valid Forex Trading License rather called CIF license in Cyprus, and, Mutual Fund License in the Seychelles.
Some of the most frequently asked questions are:
What is the required share capital for obtaining a Forex license in Cyprus or the Seychelles and do I need to pay in the share capital?
Well, The required share capital in Cyprus is depending on the exact business activity and procedures of the Forex company and is ranging from EUR 200,000 to EUR 1,000,000 and it has to be paid in but can be used later on to buy assets, property, office supply etc. for the company.
For more details about the share capital please read the below link:
Offshore Company Forum - Forex trading license, Cyprus, Can the paid Up Capital cover expenses?
In the Seychelles you must obtain a Mutual Fund license which requires the capital of USD 1,000,000 which doesn't need to be paid in but has to be proven by an recognized tax advisor (like PWC, Deliotte etc.) or Law Firm.
What are the costs to register a company / mutual fund and obtain the license, I need the total costs with all fees included?
This is a very complicated question, because the fee depends very much on how much time all parties involved have to spend on each business case before they are ready to obtain the CIF license or to obtain the status of an Mutual Fund, further, how much time we have to spend on explaining and remind the client to submit the required documents on the outlined list that will be send to you.
However, most clients accomplish the entire process quickly and with less time spend, so the total costs are in the range of EUR 28,000 - 35,000 + CySec License fee and out of pocket fees ranging from EUR 5,000 - 7,500 We can't come it closer than that!
Will you guarantee the approval and obtaining of the CIF license or status as an Mutual Fund in the Seychelles?
No, we can't and won't guarantee such because at the end of the day it all depends on the client. If the client don't cooperate or hide information from us which we can't know about in the beginning and they get declined we have still used the time spend and won't refund any amount paid to us.
Will you help to establish an real office in Cyprus, sourcing staff and setup the entire company for us in Cyprus?
We will charge for this task but are able to help from the beginning to the end.
In the Seychelles it is not a requirement to have an established office there to get the status of an Mutual Fund.
Are there any other cheaper solution to establish a license Mutual Fund or Forex company in Cyprus?
Unfortunately there is not.
Can you help to look into my situation and my case and then let me know what you think and tell me the exact procedure and service I need to get this done?
Yes we can do that, however, it is a very time consuming process and we have at least 3 request's a day for this service and only 1 in a month convert to a paying client, so we will not provide this service without an consultancy fee of EUR 500 that is paid for the time spend and which is not refundable.
Is there a cheaper or even free way to get more help to learn how I can get started?
Actually there is a cheaper way, you can join our Mentor Group for which you can find more information here: CCLOGIC Mentor Group
Where can I find more information about the CIF license / Forex License and the Seychelles Mutual Fund?
For the CIF license / Forex License in Cyprus, please visit the following link:
Forex CySec License
For the Seychelles Mutual fund and to obtain the status of an Mutual fund in the Seychelles, please visit the following link: Seychelles Foundation
We will update the information on this page as we feel it to be necessary and as we get more frequently asked questions that can be useful for everyone.
Thank you for reading.
No announcement yet.
Forex Fund Management Company in the Seychelles or Cyprus, please read!
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