Торговля через соцсети набирает обороты. Что мешает взрывному росту social e-commerce? Социальной коммерции придется повторить путь к доверию потребителей, пройденный e-commerce.
Согласно исследованию консалтинговой компании из Греции Accenture, торговля товарами в социальных сетях (s-ecom) развивается в три раза быстрее, чем традиционная e-commerce. К 2025 г. оборот s-ecom достигнет 1,2 трлн. долларов. Такой рост объясняется, прежде всего, увеличением доли представителей поколения Z и миллениалов среди пользователей соцсетей. Есть мнение, что e-commerce готова к “социальной революции”, после которой электронная торговля будет постепенно переходить в s-ecom. Ограничения в связи с пандемией показали, что люди используют соцсети (s-net), как точки входа в интернет-пространство - новости, развлечения, общение ― все это начинается с s-net. Уже сегодня s-net трансформируют способ торговли как для продавцов, так и для покупателей.
Согласно исследованию, 59% покупателей в s-net готовы продолжать мелкие покупки в соцсетях. Что касается покупки дорогих товаров, здесь предпочтение отдается таким популярным маркетплейсам, как Amazon, Ebay и др. Очевидно, что на продажу товаров в соцсетях стоит обратить внимание представителям малого и среднего бизнеса. Наибольший объем торговли в s-ecom будет сосредоточен на товарах в сфере красоты и здоровья (40%), недорогой одежды (18%), электроники (13%), органических продуктов питания (13%), товаров для домашнего интерьера (7%). При этом, больше половины пользователей соцсетей выражают опасение относительно безопасности личных данных и возможностей по возврату или обмену купленного товара. Таким образом, отсутствие доверия остается пока самым существенным препятствием для развития s-ecom. Аналогичный путь становления, преодоления предрассудков, принятия инновационных решений в сфере безопасности и приобретения доверия покупателей проделала e-commerce в конце 90-х и начале 2000-х гг.
В заключение исследователь рассказал о некоторых интересных фактах: покупатели из развивающихся стран смелее, и настроены чаще пользоваться s-ecom; пользователи из Китая, Индии и Бразилии при покупке интересуются функциями и возможностями товара, а покупателей из Великобритании и США интересуют цены и скидки; доверие между покупателем и продавцом важнее для тех, кто старше по возрасту. Более взрослые пользователи также обращают внимание на безопасность, выбирая известные бренды. Для молодых пользователей важны отзывы покупателей.
По материалам economytoday.sigmalive.com
Blockchains such as Bitcoin and Ethereum are constantly and continually growing as blocks are being added to the chain, which significantly adds to the security of the ledger. There have been many attempts to create digital money in the past, but they have always failed.
The prevailing issue is trust. If someone creates a new currency called the X dollar, how can we trust that they won't give themselves a million X dollars, or steal your X dollars for themselves?
Bitcoin was designed to solve this problem by using a specific type of database called a blockchain. Most normal databases, such as an SQL database, have someone in charge who can change the entries (e.g. giving themselves a million X dollars). Blockchain is different because nobody is in charge; it’s run by the people who use it. What’s more, bitcoins can’t be faked, hacked, or double spent – so people that own this money can trust that it has some value.
HOW DOES CRYPTOCURRENCY WORK?
A cryptocurrency is a medium of exchange that is digital, encrypted, and decentralised. Τhere is no central authority that manages and maintains the value of a cryptocurrency. Instead, these tasks are broadly distributed among a cryptocurrency’s users via the internet.
Crypto can be used to buy regular goods and services, although most people invest in cryptocurrencies as they would in other assets, like stocks or precious metals.
PROOF OF WORK VS PROOF OF STAKE
Proof of work and proof of stake are two different validation techniques used to verify transactions before they’re added to a blockchain that reward verifiers with more cryptocurrency. Cryptocurrencies typically use either proof of work or proof of stake to verify transactions.
Proof of Work
Each participating computer, often referred to as a ‘miner’, solves a mathematical puzzle that helps verify a group of transactions – referred to as a block – then adds them to the blockchain leger.
The first computer to do so successfully is rewarded with a small amount of cryptocurrency for its efforts. This race to solve blockchain puzzles can require an intense amount of computer power and electricity. In practice, that means the miners might barely break even with the crypto they receive for validating transactions, after considering the costs of power and computing resources.
Proof of Stake
To reduce the amount of power necessary to check transactions, some cryptocurrencies use a proof of stake verification method. With proof of stake, the number of transactions each person can verify is limited by the amount of cryptocurrency they’re willing to ‘stake’, or temporarily lock up in a communal safe, for the chance to participate in the process. Each person who stakes crypto is eligible to verify transactions, but the odds you’ll be chosen to do so increase with the amount you front.
Proof of stake removes energy-intensive equation solving; it’s much more efficient than proof of work, allowing for faster verification time for transactions. If a stake owner (sometimes called a validator) is chosen to validate a new group of transactions, they’ll be rewarded with cryptocurrency, potentially in the amount of aggregate transaction fees from the block of transactions.
HISTORY OF BLOCKCHAIN
Satoshi Nakamoto, whose real identity remains unknown to date, first introduced the concept of blockchains in 2008. The design continued to improve and evolve, with Nakamoto using a Hashcash- l ike method. It eventually became a primary component of bitcoin, a popular form of cryptocurrency, where it serves as a public ledger for all network transactions.
Bitcoin blockchain file sizes, which contained all transactions and records on the network, continued to grow substantially.
By August 2014, it had reached 20 gigabytes, and eventually exceeded 200 gigabytes by early 2020.
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In 2021, we witnessed the post-pandemic recovery for some economies, especially the U.S. economy. In 2022, this recovery is expected to continue and become more global as Europe and other major economies are forecasting higher GDP growth rates. Global trade resumed in 2021 and is expected to remain strong this year.
Bond and credit markets typically reflect macroeconomic conditions. With improving consumer confidence and healthy corporate performance, credit investors will have a wider range of opportunities going forward. In addition, the relatively high valuations of equities may induce investors to look further into bonds/credit and consider various strategies.
LEON MFO Investments Limited is launching two funds in the first quarter of 2022 that will allow investors to access the corporate bond and credit markets.
The firm is using its strong investment expertise in wealth management for MFO clients (with more than $1 billion under management) and is offering its best performing investment strategies through these funds to the local Cypriot institutional and HNWI clients. For investors who prefer to invest in EUR, the funds offer EUR currency hedge.
This is why two share classes are available (EUR and USD) allowing investors to select the share class most appropriate for them.
LEON FUNDS
The Leon Income Fund RAIF V.C.I.C. PLC offers investors the opportunity to participate in the global bond market with a medium-risk strategy that has worked well for Leon’s discretionary portfolios since 2015.
This fund’s portfolio is well diversified and consists of leading U.S. and global companies. With well-defined portfolio parameters, the fund achieves optimal diversification and risk reduction. This fund is targeting a net return of 3.0% in EUR or 4.0% in USD terms. With banks offering very low or sometimes negative interest rates on deposits, this fund provides a choice that was missing for the local market. The minimum investment is EUR 125,000 and investors can subscribe or redeem monthly.
The Leon Global Hedge Fund RAIF V.C.I.C. PLC invests in specialised hedge funds which focus on two broader themes: a) Short-term alternative credit and b) Arbitrage. Short-term alternative credit includes trade finance, consumer finance, receivables, bridge credit, and more. The Alternative credit portfolio benefits from increases in short-term interest rates and provides a good hedge against inflation. On the other hand, arbitrage opportunities are sought in interest rate arbitrage, equity index arbitrage, FX or commodity arbitrage, and volatility arbitrage.
The Arbitrage portfolio benefits from market volatility and provides a good hedge against market corrections. Managed by an experienced team, this fund identifies hedge funds that have consistently performed well in the above areas and funds that have low correlations between them. This is a disciplined strategy that has consistently offered attractive returns to investors since 2018. The targeted net return is around 5% in EUR or 6% in USD terms. The minimum investment is EUR 250,000 with monthly subscriptions and quarterly redemptions with 190-day notice.
Both funds are managed by LEON MFO Investments Limited and addressed only to well-informed and professional investors. For more information, please contact LEON MFO Investments Limited at 25 268 120 or demetris.nicolaou@leonmfo.com
Disclaimer: This article does not disclose all associated risks and should not be considered as an offer or invitation to subscribe to units or shares in the above RAIFs.
LEON MFO Investments Limited is regulated by the Cyprus Securities and Exchange Commission.
License No. AIFM 37/56/2013
Tel.: +357 25 268 120
www.leoninvestments.com.cy
Today digital assets are affecting the entire financial market. Will they create opportunities for economic growth? How will financial services industry models change? Is the regulatory structure over financial services prepared for this change? Deloitte’s 2021 Global Blockchain Survey provides a clearer view at current and future expectations for the global financial services industry (FSI).
The survey focuses on respondents from the FSI and FSI Pioneers – respondents, whose organisations have already applied blockchain solutions and/or integrated digital assets into their business activities.
More organisations realise that adopting blockchain and digital assets becomes necessary for their business models. According to the survey’s results, more than three quarters of FSI respondents strongly or somewhat agree that their organisation will lose an opportunity for competitive advantage if they fail to adopt blockchain and digital assets.
The shift to digital assets is fundamentally changing banking. Banks need to rethink their business models around the payments since cross-border transactions can be performed outside the traditional banking system. 43% of FSI respondents say that new payment options represent a ‘very important’ role for digital assets in their organisations.
Among FSI Pioneers that figure jumps to 63%. 76% of the survey respondents and 85% of FSI Pioneers believe that digital assets will help significantly or moderately reduce risks for organisations or projects. But this optimism is also tempered by caution. 71% of overall survey respondents identified cybersecurity among the biggest obstacles to acceptance of digital assets. 67% of FSI Pioneers agreed which means that even those who are already implementing digital assets and believe in their future have serious security concerns. Around 70% of overall survey respondents identified data security regulation in the greatest need of modification (vs 63% of FSI Pioneers).
The Deloitte’s Global Blockchain Survey shows that respondents expect to observe significant positive impact on their organisations and projects from a variety of digital asset types:
• Stablecoins or central bank digital currencies: overall survey 42%; FSI overall 43%; FSI Pioneers 53%
• Algorithm-driven stablecoins: overall survey 38%, FSI overall 40%, FSI Pioneers 59%
• Enterprise-controlled coins: overall survey 33%, FSI overall 33%, FSI Pioneers 43%.
This thinking creates anxiety about how the industry can adjust traditional processes, products, and services to effectively meet their customers’ future needs. An impressive 97% of FSI Pioneers see blockchain and digital assets as another way to gain competitive advantage.
The future is happening now. But it will depend on the industry players and on their reactions. What the industry does now will shape financial services, the nature of money, and the nature of financial economic activity for the next decade. Participation in the age of digital assets is not an option. Leaders need to decide how and when their organisations should start using digital assets to their great advantage.
Deloitte conducted its 2021 Global Blockchain Survey in 10 locations: United States, United Kingdom, Germany, China Mainland, Japan, UAE, Hong Kong SAR, Singapore, Brazil, South Africa. In total, 1,280 senior executives and practitioners took part in it.
The full survey can be accessed at www2.deloitte.com
Декларации можно подать позже назначенного срока. Льготная ставка предусмотрена, но не для всех. Внесенные в СИДН изменения коснутся только процентов и дивидендов.
26 января 2022 г. “Налоговое управление Кипра” сообщило о продлении сроков для подачи деклараций о взносах на нужды обороны (Special Defence Contribution) и взносах в “Национальную систему здравоохранения” (General Healthcare System). Декларации необходимо предоставить до 31 марта 2022 г. В уведомлении сообщается, что декларация для предполагаемого распределения дивидендов (форма TD 623) была заменена.
Напомним, что согласно изменениям “Соглашения об избежании двойного налогообложения” (СИДН) между Россией и Кипром, выплачиваемые из России дивиденды и проценты по займам будут облагаться налогом по ставке 15%. Предусмотрена льготная ставка, но она будет доступна для ограниченного круга резидентов (фонды и страховые компании). Внесенные в СИДН изменения касаются только дивидендов и процентов. Налогообложение других видов доходов не изменилось. Такие же изменения коснулись и СИДН России с Мальтой. Нидерланды отказались внести поправки в “Соглашение”.
По материалам mov.gov.cy
Living a nomadic lifestyle became a trend in recent years. Paradoxically, the global pandemic helped promote the concept. Last two years proved that many of us could perform our job remotely with the help of technology.
More and more people want to be location independent – either while working remotely for an employer or by setting up their own business activity.
However, the nomadic lifestyle can bring up issues with a residency status, specifically with tax residency. Many travellers do not necessarily think about this in the first place and sometimes totally ignore their tax situation. Even if one decides to do a Tour Around the World, they should think in advance – where and how to declare the revenue. For some, this will be a country where they eventually return to. But those who do not have a permanent home and do not necessarily want to have one, should be very cautious about their tax residency strategy. Similarly, the same applies to the travelling entrepreneurs; they need to make sure that the residency of their business is well-established.
Fortunately, more and more digital nomads are aware of the problems that may arise due to the changes of location and prefer to carefully choose one country as a base and set up the tax residency there.
Digital nomads are privileged since they have the luxury to choose their tax residency country and legally save on taxes. At the same time, many locationindependent expats realised that they don’t have to be on a constant tour to benefit from а nomadic lifestyle. The concept of slow travelling becomes even more popular when we are facing travelling restrictions.
CYPRUS BENEFITS
For any type of nomads – those ‘on the go’ or those who prefer to stay in a place for longer – Cyprus is the ideal place to be.
Most importantly, in 2017, the government introduced very attractive residency rules – one of the best in the world. One can become a Cyprus tax resident when staying in the territory of Cyprus for at least 60 days in a tax year.
The 60-days rule can be used under the condition that this person does not spend more than a sum of 183 days in any other jurisdiction within a tax year and is not a resident (for tax purposes) of another jurisdiction within the same tax year.
A personal tax residency in Cyprus can be favourably combined with a business incorporation on the island since one of the conditions to acquire the residency permit is to be employed or to carry on a business.
Tax residents in Cyprus are taxed on their worldwide income; however, certain exceptions apply. A Cyprus tax resident but non-domiciled in Cyprus is exempt from taxation on his worldwide dividend and ‘passive’ interest income. When becoming a tax resident of Cyprus, the expats can benefit from no taxation of dividends and interest for non-domiciled tax residents – for 17 years of the residency (exemption from Special Defence Contribution which is a local withholding tax on passive income for domiciled tax residents).
Overall, Cyprus is a great jurisdiction to run a business and is often chosen by entrepreneurs for company structuring and tax planning. There are no capital gains tax on sale of securities (selling shares, stocks, various financial instruments) and no withholding tax on dividends, interests, and royalties. Even after the planned increase of the corporate tax rate to 15%, Cyprus will be still one of the most competitive countries to incorporate a company.
Cyprus offers one of the most favourable Intellectual Property systems. The IP regime, also known as the Patent Box or the Innovation Box, introduced in many countries to stimulate research and development (R&D) activities, results in lower taxes, by taxing profits derived from a licence, sublicence, sale, or transfer of eligible IP assets. Under the regime, 80% of the profit earned from the use of intangible assets can be deducted for tax purposes.
The VAT rate is 19% in the case of services rendered to entities in Cyprus or B2C. There is no VAT for the provision of services to entities located outside the EU and when selling B2B services between companies registered for VAT in the EU.
To continue with benefits of becoming a tax resident in Cyprus, we need to mention the 0% rate of the Personal Income Tax for income below €19,500 per year (once reached, it becomes 20-35% depending on the level of income).
Another great incentive is the expatriate tax relief for employment in Cyprus, which is supposed to be extended every five years. In practice, it is granting the application of the 20% or €8,550 (whichever is the lower) tax exemption on remuneration from employment which is exercised in Cyprus by an individual who was resident outside the Republic in the tax year prior to the commencement of his employment on the island.
For instance, under the current framework, as of January 1st, 2020, an individual whose employment in the Republic commences up to the year 2025, has the right to claim the relevant tax exemption for a period of five years (i.e. up to the year 2030 inclusive).
WHAT FUTURE BRINGS
When thinking of Cyprus, we should also appreciate the high-potential dynamic growing economy and investment opportunities. Recently the government decided to promote these qualities and to open for foreign capital.
Cyprus aims to welcome more expats, but not only from the EU, which is a gesture towards the Russian community.
Without a doubt, the current system provides the ease of residency permissions primarily to citizens of the EU countries. The expats from outside the EU zone usually struggle with legalising their residency.
The government introduced the socalled ‘Action Plan’ which will facilitate hiring of employees and offer tax incentives. Some of the proposals will be implemented as from January 2022, however tax relief and new rules for naturalisation will first need relevant legislation. The package is addressed to expats in general, but primary to all foreign companies operating in Cyprus or wishing to establish presence in the country, as well as for Cyprus companies in specific domains related to hi-tech/innovation, research and development, biogenetics and biotechnology, and shipping.
WHAT ABOUT CRYPTOS?
The Action Plan is a very good initiative and will certainly attract more foreign business.
It is a shame though, that the matter of cryptocurrency – being a current global issue and directly connected to digitalisation, is not even mentioned in the Action Plan. In Cyprus we are still waiting for a relevant legislation. The Tax Office in Cyprus is not willing to issue any guidance or interpretations in this matter. For now, since every Cyprus company needs to submit its financial statements, the role of auditors in qualification of such profits is significant.
This means that the interim taxwise solution for now would be keeping the cryptocurrency in a separate entity, like a company. In the current situation, the taxation of profits from cryptos on a corporate level seems to be a less risky option than declaring crypto profits as a physical person.
The only body that recently referred to the subject was the Cyprus Securities and Exchange Commission – when updating its policy of regulation of cryptoassets.
The CySEC document defined specific requirements for companies that seek to be included in the official register of service providers related to cryptocurrencies. At the same time, it describes cryptoassets, but… only those that are regulated… which, of course, is not the case yet. Depending on their structure, cryptoassets can be qualified as financial instruments. Also, without being an official means of payment, they can qualify as ‘electronic money’. Time will show how tax authorities in Cyprus will classify it.
Cyprus is an attractive destination for both business and individuals. Compared to other EU countries, it offers a unique work-life balance blended with a high-quality Mediterranean lifestyle.
In recent years Cyprus has become an international business centre, where many expats found their place to live and digital nomads a great base to stay. With such great potential, it seems to be on the right course for the next decades.
Jowita Jablonska
Founder of CDX Trust – Nomads Club
jj@cdxtruct.com
CYPRUS ’ACTION PLAN’ HIGHLIGHTS
New policy for employing non-EU country nationals
Issuing of temporary residence and employment permits in Cyprus for high-skilled third-country employees, with a minimum gross monthly salary of €2,500, while a university degree, title, equivalent qualifications, or certificates of relevant experience are also needed.
Family reunification of third-country nationals
Family members of non-EU employees, who are employed under the new residence permit provisions, will also have immediate and free access to Cyprus labour market.
Digital nomad visas
Initially, with a limit of 100 beneficiaries. Digital Nomad Visa is for third-country nationals who wish to live in Cyprus but work remotely for companies operating abroad. The visa will be granted for a period of 12 months, with the right to renew it for another two years. The amount of sufficient resources is set at €3,500 per month.
Application for Cypriot citizenship
Right to submit an application for naturalisation after 5 years of residence and work in the Republic of Cyprus (instead of 7), or after 4 years if they have a recognised certificate of very good knowledge of the Greek language.
Business Facilitation
In areas of hi-tech/innovation, research and development, shipping, biogenetics and biotechnology. Ease of establishing and administering companies shall be improved (company registration, name approval, registration to social insurance, registration to VAT).
Extensions of expatriate reliefs
• Current expat employees will be able to extend the benefit to 17 years.
• Income tax exemption of 50% to new residentsemployees with income between €55,000 and €100,000 for the remaining period of 17 years.
These tax incentives also apply to Cypriots who have lived abroad for at least ten years and wish to repatriate to the Republic.
One could say that this proposal seems to be a little excessive. According to the Plan, tax exemptions addressed to foreign high skilled employees in Cyprus is to be extended for a period of 17 years. It is the same period as current benefit for non-domiciled tax residents. When it makes sense to establish such long period for incentives related to domiciliation, it is not so common to introduce such extensive relief related to the employment. For this reason, we can never take for granted that such benefit would stay within the system for longer.
Tax incentives for R&D expenses and for innovative investments
• Granting an increased discount on research and development expenses (e.g. by 20%)
• Possibility of extending the tax exemption to 50% for investment in certified innovative companies and by corporate investors.
The advancements of blockchain are still young and have the potential to be revolutionary in the future. In few words, blockchain is a combination of three leading technologies:
1. Cryptographic keys
2. A peer-to-peer network containing a shared ledger
3. A means of computing, to store the transactions and records of the network.
Cryptography keys consist of two keys – Private key and Public key. These keys help in performing successful transactions between two parties. Each individual has these two keys, which they use to produce a secure digital identity reference. This secured identity is the most important aspect of blockchain technology. In the world of cryptocurrency, this identity is referred to as ‘digital signature’ and is used for authorising and controlling transactions.
The digital signature is merged with the peer-to-peer network; a large number of individuals who act as authorities use the digital signature to reach a consensus on transactions, among other issues. When they authorise a deal, it is certified by a mathematical verification, which results in a successful secured transaction between the two networkconnected parties. To sum it up, blockchain users employ cryptography keys to perform different types of digital interactions over the peer-to-peer network.
PRIVATE BLOCKCHAIN NETWORKS
Private blockchains operate on closed networks, and tend to work well for private businesses and organisations.
Companies can use private blockchains to customise their accessibility and authorisation preferences, parameters to the network, and other important security options. Only one authority manages a private blockchain network.
PUBLIC BLOCKCHAIN NETWORKS
Bitcoin and other cryptocurrencies originated from public blockchains, which also played a role in popularising DLT. Public blockchains also help eliminate certain challenges and issues, such as security flaws and centralisation.
With DLT, data is distributed across a peer-to-peer network rather than being stored in a single location. A consensus algorithm is used for verifying information authenticity; proof of stake (PoS) and proof of work (PoW) are two frequently used consensus methods.
PERMISSIONED BLOCKCHAIN NETWORKS
Also sometimes known as hybrid blockchains, permissioned blockchain networks are private blockchains that allow special access for authorised individuals. Organisations typically set up these types of blockchains to get the best of both worlds, and it enables better structure when assigning who can participate in the network and in what transactions.
The Cyprus Securities and Exchange Commission (CySEC) has published a clarification on the anti-money laundering and counter-terrorist financing (AML/CFT) supervision for cryptoasset operations undertaken in or from Cyprus. The Successful Business Magazine presents the summary of this publication.
REGISTER OR SUBMIT NOTIFICATION?
If you are a Crypto Asset Services Provider (CASP), within the meaning of the Prevention and Suppression of Money Laundering and Terrorist Financing Law (AML/CFT Law), that provides services in or from Cyprus, you must formally register with CySEC.
If you are a CASP established in the EEA and registered with one or more EEA National Competent Authorities for AML/CFT purposes in relation to all services or activities undertaken or intended to be undertaken in Cyprus (i.e. involving Cypriot residents, including incorporated or unincorporated entities based in Cyprus), you must submit a notification. You should provide evidence in relation to your valid registration for each service or activity.
Where these services or activities are not covered by the framework that governs your registration for AML/CFT purposes, you should submit an application to be registered as a CASP with CySEC.
REGISTER BEFORE STARTING BUSINESS
New businesses must register with CySEC before commencing their operations in or from Cyprus. Existing businesses that demonstrate a material existing crypto-asset activity had to submit an application before the end of October 2021 and be fully compliant with the AML/CFT Law and the Directives issued pursuant to the AML/CFT Law.
REGULATORY FRAMEWORK
The applicable regulatory framework comprises:
• The AML/CFT Law • The CySEC Directive for the CASP register
• The CySEC directive for the prevention and suppression of money laundering and terrorist financing. The regulatory framework includes rules, inter alia, in relation to:
• The fitness and probity of the CASP beneficiaries and persons holding a management
position
• The conditions in relation to CASPs registration
• The organisational and operational requirements
• Preforming Know Your Client and other client due diligence measures
• Drawing the economic profile of clients
• Identifying the source of client funds
• Monitoring the clients’ transactions
• Identifying and reporting suspicious transactions
• Undertaking a comprehensive risk assessment in relation to clients’ activities and take proportionate measures per client, activity and crypto-asset in question.
CySEC’s approach on CASPs and their operations is further elaborated in the Policy Statement PS-01-2021.
HOW TO REGISTER
CASPs that provide services in or from Cyprus must submit a duly completed application form, along with relevant questionnaires and any additional information and/or required evidence, in accordance with CySEC’s Announcements on the submission of applications and relevant correspondence, as amended from time to time and pay the corresponding fee. In addition to this, an electronic version of the application form (i.e. only Form 188-01) should be also submitted at caspregistrations@cysec.gov.cy.
CASPs established in the EEA that are registered with one or more EEA National Competent Authorities for AML/CFT purposes in relation to all services or activities undertaken or intended to be undertaken in Cyprus, must submit a notification form at eeacasp@cysec.gov.cy.
REGISTRATION FEES
CySEC registration charges are as follows:
• €10,000 for the examination of an application. Successful applicants will not be required to pay an additional fee for the first year of their registration.
• €5,000 for the purposes of renewal of registration per year.
CRYPTO-ASSET ACTIVITIES AND INITIAL CAPITAL
