Nikolai Timofejev
15 years in FinTech and payments. Maps your business model to the right licence scope and leads the file all the way to the CySEC decision, including banking and payment rails.
Get a forex license in Cyprus.
The EU's broker capital: the CySEC CIF licence passports CFD and forex brokerage into thirty states - IFD capital from €75,000 to €750,000, the deepest retail-broker cluster in Europe, and 15% corporate tax under the 2026 reform. We build the file end to end.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Licenses obtainedlicenses obtained
Updated
Cyprus in brief
Where Europe's brokers actually live.
Cyprus turned a MiFID licence into an industry: the Cyprus Investment Firm authorisation from CySEC under the Investment Services Law (the MiFID II transposition) is the licence behind more retail FX and CFD brands than any other in Europe. The capital classes follow the EU's IFD: €750,000 for dealing on own account, €150,000 for firms holding client money or assets on an agency basis, €75,000 for those that do neither - with the IFR's K-factor mathematics above the floors. ESMA's product-intervention inheritance applies exactly as in the rest of the Union: leverage 30:1 to 2:1 by class, negative balance protection, standardised risk warnings, no bonuses.
What Cyprus adds is the cluster: two decades of licensed brokers built Limassol into the world's densest broker town - liquidity bridges, platform vendors, PSPs, compliance officers and dealing-desk talent within three postcodes, at costs no Western hub matches. The 2026 tax reform put corporate tax at 15% with the non-dom regime intact for relocating founders. CySEC processes files with practiced speed for the sector it knows best; realistic end-to-end runs 8-14 months. We run the file from our Limassol office, and pair the CIF with UK or offshore satellites where group structure calls for it.
The CySEC CIF under the Investment Services Law: IFD capital €75k/€150k/€750k by model, ESMA retail rules, EU passport into thirty states - reviewed by a regulator fluent in brokers.
Around it: the Limassol cluster - liquidity, platforms, PSPs, talent, and the 2026 tax reform: 15% CIT, non-dom 0% dividends.
The two routes
Dealing on own account - or the STP/agency CIF.
One CIF licence, two architectures: the market-maker at €750,000, or agency and matched-principal models at €75,000-€150,000. All passported EU-wide. We fix the model first, then build once.
The €750k market-maker CIF - or STP/agency at €75k-€150k, all passported.
01 - DEALING ON OWN ACCOUNT
The market-maker CIF
The full principal licence: dealing on own account in CFDs and FX at €750,000 initial capital. B-book economics under EU rules, passported into thirty states from the industry's home town.
The full principal licence: dealing on own account in CFDs and FX at €750,000 initial capital. B-book economics under EU rules, passported into thirty states from the industry's home town.
- ✓Dealing on own account - B-book
- ✓€750,000 initial capital
- ✓K-factor capital above the floor
- ✓EU/EEA passport on notification
- ✓ESMA retail rules built in
- ✓Limassol's cluster around you
02 - STP · AGENCY CIF
€75k-€150k initial capitalThe agency models
Reception-transmission, execution and portfolio services at €75,000 - €150,000 where client funds are held. The A-book architecture that starts lighter and upgrades with scale.
RTO/execution A-book; €150k with client money; portfolio services; upgrade path.
- ✓RTO and execution - A-book/STP
- ✓€75k without client money · €150k with
- ✓Portfolio management and advice
- ✓Same EU passport
- ✓Upgrade path to own account
- ✓Same CySEC supervision
Costs and timelines are confirmed for your case before any work begins. CySEC fees follow its schedule; capital, indemnity and substance costs are itemised in your quote.
Why Cyprus
The cluster is the moat.
The same MiFID licence as anywhere in the EU. Surrounded by the only ecosystem built specifically for brokers.
✓
The EU passport
One CIF authorisation notifies into thirty EU/EEA states. The entire European retail market from a single Limassol desk.Thirty states, one desk.
✓
The Limassol cluster
Liquidity providers, bridge vendors, platform integrators, PSPs and a compliance talent pool trained on exactly this business. The operational moat no new desk can copy.The industry's home town.
✓
A regulator fluent in brokers
CySEC has licensed and supervised this industry for two decades. Files are read by people who know a B-book from a bridge, which makes reviews faster and expectations knowable.Knows a B-book from a bridge.
✓
15% under the reform
The 2026 reform set corporate tax at 15% with the non-dom regime intact. Founder economics the older EU desks cannot match.The 2026 reform's gift.
✓
Cost-effective substance
Directors, dealers and compliance officers hire locally at a fraction of London rates. Real substance that fits a scaling broker's budget.Real, affordable staffing.
✓
The pairing hub
CIF plus FCA for UK flow, CIF plus offshore for the rest of world. Cyprus is the EU anchor of most serious multi-licence groups, and we build the whole set.CIF + FCA + offshore, built once.
How it compares
How Cyprus differs from other routes.
Cyprus offers the EU passport inside the industry's own ecosystem. The side-by-side comparison is below.
Cyprus vs other jurisdictions
| Feature |  Cyprus | Other jurisdictions |
|---|---|---|
| Regime | MiFID II CIF - CySEC | Same directive or offshore |
| Cluster | The industry's home town | Generic financial centres |
| Capital | €75k-€750k IFD classes | £75k-£750k UK · US$ offshore |
| Timeline | 8-14 months | 9-15 UK · weeks offshore |
Regime
CyprusMiFID II CIF - CySEC
Other jurisdictionsSame directive or offshore
Cluster
CyprusThe industry's home town
Other jurisdictionsGeneric financial centres
Capital
Cyprus€75k-€750k IFD classes
Other jurisdictions£75k-£750k UK · US$ offshore
Timeline
Cyprus8-14 months
Other jurisdictions9-15 UK · weeks offshore
Country by country
| Country | License type | Taxation | Requirements |
|---|---|---|---|
| Cyprus | CySEC CIF | 15% CIT (2026) | IFD tiers, EU passport |
 United Kingdom | FCA investment firm | 25% CIT · 19% small | MIFIDPRU, CASS, PS19/18 |
 Australia | ASIC AFSL | 30% · 25% base | NTA A$1M, CFD order |
 UAE · DIFC | DFSA Cat 3A/2 | 9% · 0% qualifying | US$500k-2M, common law |
CyprusLicense typeCySEC CIF
Taxation15% CIT (2026)
RequirementsIFD tiers, EU passport
United KingdomLicense typeFCA investment firm
Taxation25% CIT · 19% small
RequirementsMIFIDPRU, CASS, PS19/18
AustraliaLicense typeASIC AFSL
Taxation30% · 25% base
RequirementsNTA A$1M, CFD order
UAE · DIFCLicense typeDFSA Cat 3A/2
Taxation9% · 0% qualifying
RequirementsUS$500k-2M, common law
Before you apply
Requirements for the CIF authorisation.Requirements for the CIF.
The Investment Services Law and CySEC's forms define the file. The craft is a model CySEC recognises and people it approves. The checklist below is what a passing application contains.
01
Cypriot entity. A company with its head office and effective management in Cyprus.
02
Initial capital - €75,000, €150,000 or €750,000 by class, evidenced and paid in, with IFR mathematics above.
03
Fit and proper board. Four directors as practice expects, two executive and resident, vetted individually.
04
Transparent ownership. Shareholders assessed to UBO level with clean records.
05
Operations manual and business plan. The dealing model, flows and three-year financials CySEC can interrogate.
06
ESMA-inherited conduct. Leverage tiers, negative balance protection, risk warnings and the bonus ban engineered in.
07
Safeguarding of client funds. Segregated accounts, reconciliation and the audit trail.
08
Best execution and conflicts. Order-handling policy fit for the chosen architecture.
09
AML/CFT framework. KYC, monitoring and MOKAS reporting with a resident compliance officer.
10
Local substance. A staffed Cyprus office: dealing, compliance and back office genuinely operating.
01
Cypriot company, managed locally.
02
Capital per IFD class.
03
Four-director board, two resident.
04
Owners transparent to UBOs.
05
Interrogable operations manual.
06
ESMA conduct engineered in.
07
Client funds segregated.
08
Best-execution policy fit.
09
AML with resident officer.
10
A genuinely staffed office.
Reflects the Investment Services Law 87(I)/2017, IFR/IFD and CySEC practice as of 2026.ISL 87(I)/2017 + IFR/IFD + CySEC practice, as of 2026.
How it works
From first call to the CySEC register.
01
Model and strategy
Market-maker or STP, class and capital. Fixed in writing before any drafting.MM or STP - class fixed.
02
Cypriot company and people
Incorporation, capital evidence and the four-director board CySEC vets.Formation, capital, board.
03
The application file
Operations manual, conduct stack and AML pack to the forms. Complete before filing.To the forms, complete.
04
CySEC review
Question rounds answered by a desk fluent in brokers - 8-14 months realistic end to end.8-14 months, fluent desk.
05
Authorisation and launch
The register entry, EU passports notified, cluster relationships live. Europe's retail market open.Passports, cluster, launch.
Quick facts
RegulatorCySEC
Capital - no client money€75,000
With client money€150,000
Own account€750,000
Retail leverage30:1 → 2:1 by class
PassportEU/EEA - 30 states
Realistic timeline8-14 months
Corporate tax15% · since 2026
CySEC reads broker files fluently. A model it recognises, staffed by people it approves, is the entire game. That is our job.
On the ground in Cyprus
Run from our Limassol office.
Prifinance - Cyprus
Limassol · Cyprus
Limassol, Cyprus
01
Cypriot company formation
Incorporation, capital placement and the board structure CySEC expects. Built for the CIF from day one.Board built for CySEC.
02
The CySEC file
Operations manual, capital models, conduct stack and AML pack to the Law's forms. Drafted by us and defended through the rounds.To the forms, defended.
03
Cluster onboarding
Liquidity, bridge, platform and PSP relationships arranged inside Limassol's ecosystem. The licence lands operational, not theoretical.Operational at launch.
04
Substance and staffing
Resident directors, dealers and compliance officers from the industry's own talent pool. Real substance at cluster rates.Cluster talent, real ops.
We also have offices in
Tallinn
Estonia
Roseni 13
Vilnius
Lithuania
Gedimino pr. 2
Prague
Czech Republic
Vlkova 532/8, Žižkov
London
United Kingdom
7 Bell Yard
Dubai
UAE
33 Level, Al Saqr Business Tower
Madeira
Portugal
Rua da Alegria 31, 1F
Budapest
Hungary
Korányi Sándor u. 4
Good to know
Taxation of forex brokers in Cyprus.
The 2026 reform in one line: 15% corporate tax, non-dom founders at 0% on dividends. The EU's best broker economics, intact.
Corporate tax 15%
From 1 January 2026 under the reform gazetted in December 2025. Still among the EU's lowest, on a broker's full net revenue.Since 1 Jan 2026.
Non-dom: 0% dividends
Relocating founders without Cypriot domicile pay no defence contribution on dividends for seventeen years. Routinely the largest number in the model.Seventeen years, dividends.
VAT-exempt dealing
Financial-instrument dealing and intermediation are VAT-exempt; the 19% standard rate touches only ordinary supplies.19% only on ordinary supplies.
IP box for platforms
Qualifying platform IP can reach ~3% effective under the nexus IP box. Relevant for groups holding their own technology.Platform technology.
Cluster payroll
Dealing and compliance salaries price at cluster rates. Substance costs a fraction of the older hubs.Substance at sane cost.
Treaty network 65+
Deep coverage across Europe, the Gulf and the CIS. Group structures above the CIF model cleanly.Europe, Gulf, CIS.
Tax summary
Corporate tax15% · since 1 Jan 2026
Dividends (SDC)5% · 0% non-dom
Non-dom status17 years
VAT on dealingExempt · standard 19%
IP box~3% effective
Tax treaties65+
*Figures as of 2026, per the reform gazetted December 2025. Founder-level outcomes are modelled per structure.
Turnkey professional support
Experienced lawyers and international consultants.
We provide end-to-end support, from company registration and the application file to regulatory interaction and compliance oversight - with an individualized approach to each client.
Oleksii Kindratenko
Builds the application itself: Cypriot company, AML/KYC policy pack, capital structure and tax registrations. His document sets are the reason reviews finish in months, not years.
Eugeniu Bevziuc
First point of contact for international founders. Runs the whole setup remotely, across time zones and languages - from the first call to a live, authorised CIF.
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Active across our channels.
Cyprus · CySEC
Launch your forex project in Cyprus with expert support.
Full-service assistance - from company registration to the CIF authorisation, passporting and ongoing compliance.
Get a consultation →Free legal opinion
Is Cyprus the right fit for your project?
Our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, licence scope, or route fits your business.
Written assessment within 2-5 business days
Request a free conclusion →FAQ
The Cyprus CIF licence: frequent questions.
What licence does a forex broker need in Cyprus?+
A Cyprus Investment Firm authorisation from CySEC under the Investment Services Law - the MiFID II licence covering CFDs and FX, with capital classes of €75,000, €150,000 or €750,000 under the EU's IFD and passporting into thirty states.
Which capital class fits which model?+
€750,000 for dealing on own account (the B-book market-maker), €150,000 for agency firms holding client money, €75,000 for those that do neither. The IFR's K-factor mathematics layer above - we model both before drafting.
What retail rules apply?+
The ESMA inheritance, EU-wide: leverage capped 30:1 to 2:1 by asset class, negative balance protection, margin close-out, standardised risk warnings and no bonuses. The product is engineered for them from day one.
How long does the CIF take?+
Realistically 8-14 months - CySEC reads broker files with two decades of fluency, which rewards a model it recognises and people it can approve quickly. Both are our job.
What substance is expected?+
A genuinely staffed Cyprus office: a four-director board with resident executives, dealing and compliance functions operating locally, safeguarded client funds and MOKAS-connected AML. Limassol's talent pool makes it practical.
How are brokers taxed?+
15% corporate tax under the 2026 reform, 0% dividends for non-dom founders for seventeen years, VAT-exempt dealing and an IP box for platform technology - the EU's best broker economics.
Does the CIF passport across the EU?+
Yes - into every EU/EEA state on notification. It is the standard EU anchor licence of the industry; UK flow needs an FCA pairing post-Brexit, which we build alongside.
Why is the Limassol cluster worth so much?+
Everything a broker needs exists within three postcodes - liquidity bridges, platform vendors, PSPs, auditors and hire-ready compliance talent. Operational setup that takes quarters elsewhere takes weeks here.
Can one group run CIF plus offshore licences?+
Most serious groups do exactly that: the CIF for EU flow, offshore satellites for the rest of world, cleanly separated by entity and disclosure. We structure the set so the files never contradict each other.
Why Cyprus rather than the UK?+
The UK sells the strongest stamp; Cyprus sells the EU passport inside the industry's own ecosystem at half the cost. EU-facing retail brokers anchor here, and add London when institutional credibility justifies it.
What licence?+
CySEC CIF - MiFID II, passported.
Capital?+
€75k/€150k/€750k by class.
Retail rules?+
ESMA: 30:1, NBP, no bonuses.
How long?+
8-14 months realistic.
Substance?+
Staffed office, resident directors.
Taxes?+
15%; non-dom 0% dividends.
Passport?+
All EU/EEA on notification.
The cluster?+
Everything within three postcodes.
Plus offshore?+
Standard structure - built cleanly.
Vs the UK?+
Their stamp; your passport + cluster.
Client notes
Google4.7★★★★★
Founders who wanted it done right.
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Prifinance is an independent law and advisory firm. We are not a regulator and are not affiliated with, endorsed by, or acting on behalf of the Cyprus Securities and Exchange Commission (CySEC) or any other public authority. Authorisations are granted by, and obtained directly from, the competent authorities.