Cyprus

Cyprus has brought its legislation in line with the pertinent EU directives and practices that regulate the operations of Payment Institutions (PI) and Electronic Money Institutions (EMI).

In the Republic of Cyprus, the provision of electronic money services is exclusively permitted for electronic money institutions authorized by the Central Bank of Cyprus (CBC).

Authorization to operate as an electronic money institution is exclusively granted to a legal entity incorporated and headquartered in the Republic of Cyprus.

We can assist you in obtaining licensing promptly and cost-effectively.

Here’s what we can provide:

• Preparation and submission of the application package to the CBC.
• Close collaboration throughout the entire application process, offering guidance on optimizing your operations.
• Assistance in selecting suitable members for the Board and employees.
• Training sessions for Board members and employees.
• Comprehensive support and follow-up with the CBC during the application process. We can aid in responding to any queries or requests for clarification from the regulator.
• Ongoing support services following license activation.