CySEC investment firm in Cyprus, with a bank account

About This Company

CySEC regulates this Cyprus Investment Firm (CIF), offered for sale with a bank account and authorised to manage portfolios and give investment advice across Financial Instruments 1 to 11. Its ancillary permissions cover foreign exchange services tied to investment services, credit or loans connected with transactions in financial instruments, and advice on mergers and acquisitions or on how companies should arrange their capital and set industrial strategy, plus further ancillary services over the approved instruments. According to the seller this wide coverage suits investment management, advisory and wider financial-services models. Exact scope and conditions are for a buyer to verify on its own, using the CySEC authorisation as it stands, during due diligence. Operations are small: one investment-advice client. Support is available locally for compliance, risk management, internal audit and office maintenance. After the acquisition a buyer must put its own staffing in place, directors and other personnel included, with CySEC requirements and approval attached. Current capital is €75,000. Operating expenses are estimated by the seller at roughly €15,000 to €20,000 a month excluding payroll, on the basis of keeping the present regulated structure. Buyers are told to size capital, substance, staffing and running requirements to their own plans. Two banking relationships exist, one with a Cypriot bank and one with a Swiss bank. Whether either continues after a change of ownership is for that bank's internal compliance and approval process to decide. As the seller sees it, the firm gives a regulated base inside the EU, with room to expand across the EEA subject to permissions and the applicable notification or passporting procedures. It is also an alternative to setting up a new entity and going through a fresh authorisation from the start. Changes to the business plan or the regulated activities, like changes of control or of management, all fall under CySEC requirements as well. In the Atlas the legal basis is Law 87(I)/2017, the authorisation can be passported across the EU/EEA, and a new application has a statutory decision period of 6 months from a complete application. Qualified buyers can obtain documentation, CySEC authorisation details and financial information.