Cyprus Securities and Exchange Commission (CySEC): register, licences and requirements
The Cyprus Securities and Exchange Commission (CySEC) is the independent public financial supervisory authority of Cyprus, established in 2001. Operating under the Securities and Exchange Commission Law and European financial directives, it regulates capital markets, investment service providers, collective investments, and crypto-asset services. CySEC currently licenses and supervises 248 Cypriot Investment Firms (CIFs) under MiFID II, 16 authorised crypto-asset service providers under EU MiCAR, 45 full-scope Alternative Investment Fund Managers (AIFMs), 2 UCITS management companies, and 126 administrative service providers.
How to check a firm on the CySEC register
CySEC public registers are organized by regulatory category on separate web portals searchable alphabetically (A-Z) or browsable via entity cards and downloadable Excel spreadsheets. An active entity card shows the official legal name, licence number, licence grant date, company registration number (HE number), approved internet domain names, and supervisory status (Active, Suspended, or Under Examination for voluntary renunciation).3
- Cypriot Investment Firms (CIFs)3
- Authorised Crypto-Asset Service Providers under MiCAR Article 6313
- Financial entities notifying crypto-asset services under MiCAR Article 6014
- Authorised Alternative Investment Fund Managers (AIFMs)15
- Authorised Sub-threshold AIFMs16
- Authorised Local UCITS Management Companies17
- Approved Administrative Services Providers (ASPs)18
- Crowdfunding Service Providers Register under ECSPR19
At a glance
| Official name | Cyprus Securities and Exchange Commission (Επιτροπή Κεφαλαιαγοράς Κύπρου) |
|---|---|
| Jurisdiction | Cyprus |
| Type | Securities regulator |
| Headquarters | Nicosia1 |
| Founded | 20011 |
| Website | cysec.gov.cy2 |
| Public register | Official public register3 |
| Licence types in the Atlas | 8 |
What CySEC supervises
The Cyprus Securities and Exchange Commission is the independent public supervisory authority responsible for the regulation and supervision of the investment services market, transferable securities transactions, collective investment schemes, asset managers, administrative service providers, and crypto-asset service providers under EU MiCA to ensure investor protection and the sound development of the securities market.1
- Cyprus Investment Firms (CIFs) and third-country investment firm branches under MiFID II1
- Crypto-Asset Service Providers (CASPs) and asset-referenced token issuers under EU MiCA Regulation1
- Alternative Investment Fund Managers (AIFMs), Small AIFMs, and Alternative Investment Funds (AIF, AIFLNP, RAIF)1
- Undertakings for Collective Investment in Transferable Securities (UCITS) and UCITS Management Companies1
- Administrative Service Providers (ASPs) providing fiduciary, corporate trustee, and company administration services1
- European Crowdfunding Service Providers (CSPs) authorized under Regulation (EU) 2020/150320
- The Cyprus Stock Exchange (CSE), regulated markets, and multilateral trading facilities (MTFs)1
Licences CySEC issues
- CASP · Cyprus
Notification by financial entities providing crypto-asset services under MiCAR Article 60
- CASP · Cyprus
Crypto-Asset Service Provider (CASP) authorisation under MiCAR Article 63
- FM · Cyprus
Alternative Investment Fund Manager (AIFM) authorisation
- FM · Cyprus
Sub-threshold Alternative Investment Fund Manager registration
- FM · Cyprus
UCITS Management Company authorisation
- IF · Cyprus
Cyprus Investment Firm (CIF) authorisation
- Credit · Cyprus
European Crowdfunding Service Provider authorisation
- TCSP · Cyprus
Administrative Services Provider (ASP) authorisation
Lesser-known services for applicants
Pre-application meeting / pre-assessment
CySEC does not operate a formal pre-application meeting service or statutory pre-assessment regime; general inquiries regarding the scope of licensing can be addressed informally via electronic communication to authorisations@cysec.gov.cy, but formal application evaluation commences strictly upon receipt of the complete application file accompanied by payment of the non-refundable examination charge.4
Innovation hub
CySEC established its Innovation Hub in September 2018 to foster constructive dialogue between the supervisory authority and entities developing technological solutions in fintech and regtech, offering informal regulatory guidance without fee charges.5
Regulatory sandbox
Established by CySEC in June 2024, the Regulatory Sandbox operates as an open-window policy testing space covering four phases (Application, Preparation, Testing, Exit) allowing small-scale live trials of innovative financial products with dedicated officer support. The sandbox does not provide light-touch regulation or statutory exemptions; unregulated firms whose solutions require licensing must obtain full authorization prior to live testing.5
Application portal: CySEC Portal (portal.cysec.gov.cy) and Transaction Reporting System (TRS, trs.cysec.gov.cy), mandating qualified eIDAS digital signatures and physical USB hardware tokens issued via the Cyprus Stock Exchange (CSE) acting as the Local Registration Authority.6
Fee schedule: Directive DI87-03 on Charges and Annual Fees of 2018 (as amended) and Directive DI 73-2009-04 on Markets in Crypto-Assets (Charges and Fees) of 2024 (R.A.D. 415/2024).7
Compare with other regulators: pre-application meetings · sandboxes and innovation hubs.
Statistics
- 248 Cypriot Investment Firms (CIFs) registered on official register (official register, 2026-09-24)3
- 16 authorised Crypto-Asset Service Providers under MiCAR Article 63 (official register, 2026-09-24)13
- 7 financial entities notified crypto-asset services under MiCAR Article 60 (official register, 2026-09-24)14
- 45 full-scope Alternative Investment Fund Managers (AIFMs) authorised (official register, 2026-09-24)15
- 65 authorised sub-threshold AIFMs and 1 small AIFM registered (official register, 2026-09-24)16
- 126 Administrative Service Providers (ASPs) approved (official register, 2026-09-24)18
- 2 European Crowdfunding Service Providers authorised under ECSPR (official register, 2026-09-24)19
- 808 total regulated entities supervised across all financial sectors as of end-2025 (Annual Statistical Bulletin 2025, Table 1)21
- EUR 11.2 billion in total Assets Under Management (AUM) in collective investments sector at Q4 2025 (Quarterly Statistics 31/12/2025)22
Fees and timelines
| Licence | Fee | Amount |
|---|---|---|
| Cyprus Investment Firm (CIF) authorisation | application | EUR 7,000 lump sum for core investment services (paragraphs 1-7 of Part I, Annex I of Law 87(I)/2017), plus EUR 25,000 for operating an MTF/OTF, EUR 500 per ancillary service, and EUR 2,000 if engaging in algorithmic trading8 |
| Cyprus Investment Firm (CIF) authorisation | annual | Fixed annual fee between EUR 5,000 and EUR 10,000 (depending on initial capital category), plus turnover surcharge above EUR 500,000 (0.75% up to EUR 1M, decreasing to 0.0975% above EUR 10M, capped at EUR 150,000 total), plus EUR 3,000 for CFD providers and EUR 2,000 for algorithmic trading8 |
| Crypto-Asset Service Provider (CASP) authorisation under MiCAR Article 63 | application | EUR 5,000 to EUR 30,000 per requested crypto-asset service (EUR 5,000 for exchange or transfer services; EUR 8,000 for RTO, execution, placing, advice, or portfolio management; EUR 10,000 for custody; EUR 30,000 for trading platform operation)9 |
| Crypto-Asset Service Provider (CASP) authorisation under MiCAR Article 63 | annual | Fixed annual fee between EUR 5,000 and EUR 20,000 per authorized crypto-asset service (EUR 5,000 for exchange/execution/transfers; EUR 8,000 for advice/portfolio; EUR 10,000 for custody; EUR 20,000 for trading platform), plus turnover surcharge above EUR 500,000 (1% up to EUR 1M, scaling to 0.1% above EUR 10M, capped at EUR 500,000 total)9 |
| Notification by financial entities providing crypto-asset services under MiCAR Article 60 | application | EUR 10,000 one-off notification fee for authorized CIFs, credit institutions, and UCITS/AIFM management companies initiating crypto-asset services under Article 609 |
| Licence | Statutory deadline | Observed |
|---|---|---|
| Cyprus Investment Firm (CIF) authorisation | 6 months from receipt of a complete application10 | not published |
| Crypto-Asset Service Provider (CASP) authorisation under MiCAR Article 63 | 40 working days from receipt of a complete application (following a 25 working days completeness assessment)11 | not published |
| Alternative Investment Fund Manager (AIFM) authorisation | 3 months from submission of a complete application, extendable by an additional 3 months where deemed necessary12 | not published |
Changing the owner of a licensed firm
Prior notification with an objection period. Any natural or legal person proposing to acquire or increase, directly or indirectly, a qualifying holding reaching or crossing 10%, 20%, 30%, or 50% in a CIF, AIFM, or CASP, or to achieve control making it a subsidiary, must submit prior written notification to CySEC under Sections 12 and 13 of Law 87(I)/2017 and MiCA Article 83. CySEC acknowledges receipt within two working days and has a statutory assessment period of 60 working days to oppose the acquisition based on reputation, financial soundness, AML risks, and fit-and-proper criteria. The assessment period may be interrupted once by up to 20 working days (or 30 working days for non-EU entities) to request additional information. If CySEC does not object in writing before expiry, the transaction is deemed approved. Closing without CySEC non-opposition suspends voting rights and risks statutory penalties.23
Buying a company that already holds one of these licences is often faster than applying. See ready-made licensed companies · crypto digital assets · investment brokerage.
Laws CySEC applies
- Markets in Crypto-Assets Regulation: Regulation (EU) 2023/1114
- Directive 2014/65/EU on markets in financial instruments: Directive 2014/65/EU
- Regulation (EU) No 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Regulation (EU) No 648/2012: Regulation (EU) No 600/2014
- Digital Operational Resilience Act: Regulation (EU) 2022/2554
- Alternative Investment Fund Managers Directive: Directive 2011/61/EU
- UCITS Directive: Directive 2009/65/EC
- European Crowdfunding Service Providers Regulation: Regulation (EU) 2020/1503
Recent and upcoming changes
- 2026-07-01: Expiration of the MiCAR transitional grandfathering period under Article 143(3) and CySEC Circular C674; legacy national CASP registrations ceased, requiring all crypto-asset service providers in Cyprus to hold full authorization under MiCAR Article 63 or notification under Article 60.24
- 2025-01-17: EU Digital Operational Resilience Act (DORA, Regulation (EU) 2022/2554) became fully applicable to Cypriot investment firms, trading venues, and fund managers, mandating comprehensive ICT risk management, incident notification, and digital third-party oversight frameworks.25
- 2024-12-13: CySEC issued Directive DI 73-2009-04 on Markets in Crypto-Assets (Charges and Fees) of 2024 (K.D.P./R.A.D. 415/2024)26
- 2024-06-11: Official establishment and opening of the CySEC Regulatory Sandbox, enabling both regulated and unregulated entities to conduct controlled small-scale testing of technologically innovative financial products.5
Contacts and public register
Address: 19 Diagorou Str., CY-1097 Nicosia, Cyprus4
Website: cysec.gov.cy2
Check whether a firm is licensed: official register3 · official register13 · official register14 · official register15 · official register16 · official register17 · official register18 · official register19.
Frequently asked questions
What is a Cyprus Investment Firm (CIF) and what activities does it permit?
A Cyprus Investment Firm (CIF) is an entity authorized by CySEC under the Investment Services and Activities and Regulated Markets Law of 2017 (Law 87(I)/2017) transposing MiFID II. A CIF license permits brokerage, order execution, portfolio management, underwriting, investment advice, and operating multilateral trading facilities. Holding a CIF license confers EU-wide passporting rights, allowing firms to provide cross-border investment services across all European Economic Area member states.
How does CySEC regulate Crypto-Asset Service Providers (CASPs) under EU MiCA?
CySEC is Cyprus's national competent authority for Regulation (EU) 2023/1114 (MiCAR). Cyprus concluded its national transitional grandfathering period on 1 July 2026. All active crypto-asset service providers must hold full authorization under MiCAR Article 63 or submit an Article 60 notification as an authorized credit institution, CIF, or fund manager. Statutory CASP application fees range from €5,000 to €30,000 per activity under CySEC Directive DI 73-2009-04.
Does CySEC provide pre-application consultations or a regulatory sandbox?
CySEC does not offer a formal pre-application meeting service or statutory pre-assessment regime; applicants must submit complete dossier packs directly to authorisations@cysec.gov.cy. However, CySEC operates an Innovation Hub (launched in 2018) for informal technological dialogue and a Regulatory Sandbox (launched in June 2024). The Sandbox enables structured live testing of innovative financial solutions across four phases, though it explicitly does not provide light-touch regulatory waivers.
What statutory fees does CySEC charge for licensing and ongoing supervision?
Under Directive DI87-03, CIF authorization applications require a base fee of €7,000 (€25,000 for MTFs), plus €500 per ancillary service and annual supervisory fees of €5,000 to €10,000 plus turnover levies up to €150,000. Under Directive DI 73-2009-04, MiCAR CASP application fees range between €5,000 and €30,000, with annual fees consisting of €5,000 to €20,000 fixed charges plus turnover surcharges capped at €500,000.
What regulatory clearance is required to acquire a significant stake in a CySEC-regulated firm?
Under Sections 12 and 13 of Law 87(I)/2017 and MiCA Article 83, any natural or legal person seeking to acquire or increase a qualifying holding to 10%, 20%, 30%, or 50% in a CIF, AIFM, or CASP must notify CySEC in advance. CySEC conducts a fit-and-proper assessment within a statutory 60-working-day review period (interruptible once by 20 to 30 days). Transactions proceed upon formal approval or non-opposition.
Sources
- cysec.gov.cy: vision mission · retrieved 2026-09-24
- cysec.gov.cy · retrieved 2026-09-24
- cysec.gov.cy: cypriot · retrieved 2026-09-24
- cysec.gov.cy: contact · retrieved 2026-09-24
- cysec.gov.cy: regulatory sandbox existing · retrieved 2026-09-24
- cysec.gov.cy: digital signature · retrieved 2026-09-24
- cysec.gov.cy: fees · retrieved 2026-09-24
- cysec.gov.cy: GetFile · retrieved 2026-09-24
- cysec.gov.cy: GetFile · retrieved 2026-09-24
- cysec.gov.cy: epey · retrieved 2026-09-24
- eur-lex.europa.eu: HTML (32023R1114) · retrieved 2026-09-24
- eur-lex.europa.eu: HTML (32011L0061) · retrieved 2026-09-24
- cysec.gov.cy: Licensees (Article 63) · retrieved 2026-09-24
- cysec.gov.cy: Notification (Article 60) · retrieved 2026-09-24
- cysec.gov.cy: authorised aifm · retrieved 2026-09-24
- cysec.gov.cy: AUTHORISED SUB THRESHOLD AIFMS · retrieved 2026-09-24
- cysec.gov.cy: ΑΔΕΙΔΟΤΗΜΕΝΕΣ ΗΜΕΔΑΠΕΣ ΕΤΑΙΡΕΙΕΣ ΔΙΑΧΕΙΡΙΣΗΣ · retrieved 2026-09-24
- cysec.gov.cy: list · retrieved 2026-09-24
- cysec.gov.cy: ΜΗΤΡΩΟ ΠΥΣΧ · retrieved 2026-09-24
- cysec.gov.cy: CROWDFUNDING SERVICE PROVIDERS (CSP) · retrieved 2026-09-24
- cysec.gov.cy: GetFile · retrieved 2026-09-24
- cysec.gov.cy: GetFile · retrieved 2026-09-24
- cylaw.org: full · secondary · retrieved 2026-09-24
- cysec.gov.cy: GetFile · retrieved 2026-09-24
- eur-lex.europa.eu: HTML (32022R2554) · retrieved 2026-09-24
- cylaw.org: 2024 · secondary · retrieved 2026-09-24
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