Author: support

January 31, 2020 10:05 am

Eurivex Ltd, the EU Investment Firm regulated by Cyprus Securities and Exchange Commission (“CySEC) with license number 114/10 has redesigned its web site with the launch of the trade finance investing service in addition to its highly successful Listings and Depository services. Investors now have the opportunity to invest in Notes issued by Eurivex Trade Finance Limited, whose underlying assets are 100% credit insured against risk of default and earn a higher return compared to bank current accounts and term fixed deposits.

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December 2, 2019 12:59 pm

The Foreign Account Tax Compliance Act (FATCA) is a United States federal law that requires United States persons, including individuals who live outside the United States, to report their financial accounts held outside of the United States, and requires foreign financial institutions to report to the Internal Revenue Service about their U.S. clients.

Inter-Governmental Agreements are in place with various Governments around the world, including all of the jurisdictions in which our platforms are incorporated, which allows Foreign Financial Institutions (as defined by FATCA) to report to their local tax authorities, who then report the data to the Internal Revenue Service in the US.

Eurivex Ltd is fully compliant with the requirements of FATCA, is registered and in possession of the Global Intermediary Identification Number (GIIN) which is an essential part in proceeding towards reporting status. The GIIN of Eurivex is 2IKCYD.99999.SL.196.

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December 2, 2019 12:58 pm

Eurivex Terms and Conditions and Privacy Policy
Eurivex Privacy Policy

Eurivex Ltd (also referred to as “Eurivex”) is fully committed to safeguarding the privacy of its website, visitors and electronic mail users. The details of this policy, together with the Eurivex Ltd Terms and Conditions and Terms of Use, describe the way personal data is collected from the User, and how this data is managed, processed and protected.

The User is expected to fully read and understand Eurivex Ltd’s Privacy Policy.

Who we are?

Eurivex is an EU Investment firm, incorporated and based in Cyprus, regulated by the Cyprus Securities & Exchange Commission (CySEC), number 114/10, licensed to offer Reception & Transmission and Execution of Orders on behalf of clients, as well as Dealing on Own Account. It is also licensed to hold customer funds in Safe Custody, provide Advice to Undertakings, as well as Foreign Exchange services when these are connected to the provision of investment services. Eurivex is operating in compliance with the Processing of Personal Data Law (138(I) 2001) of Cyprus and the European General Data Protection Regulation (GDPR) 2016/679, under which Eurivex Ltd acts as the Data Controller and Data Processor and the Client as the Data Subject.

What kind of information do we collect?

We are required by law to verify the identity of our clients on the opening of each new account or on the addition of a new signatory on an existing account. Anti-money laundering laws require us to see the originals or certified true copies of certain documents to meet the standards, set under those laws. Such documentation, relevant to the services we provide to you includes:

(a) passport;

(b) internal passports (where applicable);

(c) national identity card (only in the case of EU nationals);

(d) utility bills (avoid mobile phone bills);

(e) trust deed (if applicable);

(f) a credit check on the individual (if applicable); or

(g) other information we consider necessary to perform our activities.

If you are a legal entity, we are required to collect additional information such as full corporate documents, Legal Entity Identifier, Tax Identification Number, financial statements (audited and management accounts) as well as additional personal information on the Shareholders and Directors. We have the right to request any additional information we deem necessary to comply with legal and regulatory requirements.

Information about you may also be collected from third parties either through publicly available sources, social media platforms, introducing brokers and affiliates, bankers and credit card processors, subscription-based intelligence databases or any other third-party associates.

As part of our business, we collect personal data from customers and potential customers that include the following:

Name, Surname and contact details
Date of birth
Information about your income and wealth including details about your assets and liabilities as well as your Tax Identification Number (TIN)
When establishing source and origin of funds as part of our Anti-Money Laundering and Compliance procedures, we shall collect account balances, trading statements, tax and financial statements and any other information we deem necessary to establish the source and original of your funds that you intend to transfer to us
Profession and employment details
Location data
Knowledge and experience in trading, risk tolerance and risk profile
IP address, device specifications and other information relating to your trading experience
Bank account, e-wallets and credit card details
Details of your visits to our Website or our Apps including, but not limited to, traffic data, location data, weblogs and other communication data.
Information, such as your name and email address, that you enter in order to set up subscriptions to our newsletters;
Information that you enter while using the services on our website;
information that is generated while using our website, including when, how often, and under what circumstances you use it;
Information relating to services you use, or transactions you make through our online trading platform, which includes your name, address, telephone number, email address, and other details;
Information contained in any communications that you send to us by email or through our website, including its communication content and metadata;
Any other personal information that you send to us.
Eurivex may collect and store the following data about the User:

Information that the User provides by filling in forms on the Eurivex websites www.eurivex.com or www.eurivextrade.com or https://eurivexagora.eu/invest/registration/ (“Eurivex website”). This includes information provided to open an account and other functions on the website. Eurivex may also ask the User for information when the User reports a problem or a complaint with the website, services, etc.
If the User contacts Eurivex, Eurivex may keep a record of that correspondence. Eurivex may also ask the User to complete surveys that it uses for research purposes, although the User is not bound to respond to requests to complete forms or surveys.
Details of transactions the User carries out through the Eurivex website and of the fulfillment of the User’s orders whether through the website or other means.
Details of the User’s visits to the Eurivex website including, but not limited to, traffic data, location data, weblogs and other communication data, whether this is required for Eurivex’s own billing purposes or otherwise and the resources that the User accesses.
How do we collect your data?

You directly provide our Company with most of the data we collect. We collect data and process data when you:

Register online and fill in your personal information, as well as complete a customer questionnaire
Submit your documentation in person or via our online portal, or via email communication
Place an order for any of our services.
Use or view our website via your browser’s cookies.
How will we use your data?

We are committed to safeguarding and protecting personal data and will implement and maintain appropriate technical and organisational measures to ensure a level of security appropriate to protect any personal data provided to us from accidental or unlawful destruction, loss, alteration, unauthorised disclosure of, or access to personal data transmitted, stored or otherwise processed.

Our Company collects your data so that we can:

Process your order and manage your account.
Email you with information on other products and services we think you might like.
Sending you trade order notifications (that you have placed an order to trade), order cancellations, expiry of orders.
Sending trade confirmations, notification of deal maturities, secondary market trading information.
Sending statements, invoices, and payment reminders to you, and collecting payments from you;
Sending you non-marketing commercial communications;
Sending you email notifications that you have specifically requested;
Sending you our email newsletter, if you have requested it (you can inform us at any time if you no longer require the newsletter);
Sending you marketing communications relating to our business which we think may be of interest to you by email or similar technology (you can inform us at any time if you no longer require marketing communications);
Providing our regulator CySEC, the Central Bank of Cyprus, Cyprus Inland Revenue, other EU governmental organisations with statistical information about our users (but those third parties will not be able to identify any individual user from that information);
Dealing with inquiries and complaints made by or about you relating to our website and services;
Keeping our website secure and prevent fraud;
Verifying compliance with the terms and conditions governing the use of our website (including monitoring private messages sent through our website private messaging service); and
We will not, without your express consent, supply your personal information to any third party for their or any other third party’s direct marketing.

Disclosing personal information

We may disclose your personal information to any of our employees, officers, professional advisers, agents, suppliers, or subcontractors as reasonably necessary for the purposes set out in this policy and to our Regulator (CySEC) when such a request is made.

When our Company processes your order, it may send your data to, and also use the resulting information from, credit reference agencies to prevent fraudulent use of our services.

We may disclose your personal information to any member of our group of companies (this means our subsidiaries) as reasonably necessary for the purposes set out in this policy.

We may disclose your personal information:

to the extent that we are required to do so by law;
in connection with any ongoing or prospective legal proceedings;
in order to establish, exercise, or defend our legal rights (including providing information to others for the purposes of fraud prevention and reducing credit risk);
to the purchaser (or prospective purchaser) of any business or asset that we are (or are contemplating) selling; and
to any person who we reasonably believe may apply to a court or other competent authority for disclosure of that personal information where, in our reasonable opinion, such court or authority would be reasonably likely to order disclosure of that personal information.

International data transfers

We require organizations who handle or obtain personal information acknowledge the confidentiality of this information, undertake to respect any individual’s right to privacy and comply with all relevant data protection laws and this privacy notice.

Information that we collect may be stored, processed in, and transferred between any of the countries in which we operate in order to enable us to use the information in accordance with this policy.
Information that we collect may be transferred to the following countries which do not have data protection laws equivalent to those in force in the European Economic Area: Ukraine.
Personal information that you publish on our website or submit for publication on our website may be available, via the internet, around the world. We cannot prevent the use or misuse of such information by others.
You expressly agree to the transfer of personal information to our IT support company Integros Limited Liability Company with Registration number 32249260 of 20 Arsenalna Street, 01011 Kyiv, Ukraine for the development and maintenance of the operation of the customer relationship management system (includes the Agora trading platform) based on Sugar platform.
How do we store your data?

Our Company securely stores your data at our headquarters located at 18 Kyriacou Matsi Avenue, Victory Tower, 1st floor, Nicosia 1082 Cyprus with backup disks stored at a secure location in Cyprus. We also store your data on secure cloud-based services operated by global multinationals based in the European Union.

Our Company will keep your personal information supplied by you for opening the account and all order/communication history for the entire period that a relationship exists. On termination of the agreement, we will delete your data only after the end of five years from the termination date in line with CySEC’s requirements.

This Section sets out our data retention policies and procedure, which are designed to help ensure that we comply with our legal obligations regarding the retention and deletion of personal information.
Personal information that we process for any purpose or purposes shall not be kept for longer than is necessary for that purpose or those purposes.
Notwithstanding the other provisions, we will retain documents (including electronic documents) containing personal data:
to the extent that we are required to do so by law;
if we believe that the documents may be relevant to any ongoing or prospective legal proceedings; and
in order to establish, exercise, or defend our legal rights (including providing information to others for the purposes of fraud prevention and reducing credit risk).
In brief, the data protection measures we have in place are the following:

we train our employees who handle personal information to respect the confidentiality of customer information and the privacy of individuals
requiring our employees to use passwords and authentication when accessing our systems;
we apply Chinese walls and employees only have access to the personal data required for the purposes of the tasks they handle.
We apply data security technologies during data transmission during internet transactions and client access codes transmitted across networks
employing firewalls, intrusion detection systems and virus scanning tools to protect against unauthorised persons and viruses entering our systems;
using dedicated secure networks or encryption when we transmit electronic data for purposes of outsourcing;
Marketing

Our Company would like to send you information about products and services of ours that we think you might like, as well as those of our subsidiaries.

In addition to Eurivex Ltd, we will periodically send you information from Eurivex Trade Finance Limited (which is a 100% subsidiary of Eurivex Ltd), from Eurivex PLC (which is a 100% subsidiary of Eurivex Trade Finance Limited) and Eurivex Nominees Ltd.
If you have agreed to receive marketing, you may always opt out at a later date.

You have the right at any time to stop our Company from contacting you for marketing purposes or giving your data to other members of our Company Group.

Security of your personal information

We will take reasonable technical and organizational precautions to prevent the loss, misuse, or alteration of your personal information.
We will store all the personal information you provide on our secure (password- and firewall-protected) servers.
All electronic financial transactions entered into through our website will be protected by semi-encrypted technology.
You acknowledge that the transmission of information over the internet is inherently insecure, and we cannot guarantee the security of data sent over the internet.
You are responsible for keeping the password you use for accessing our platform confidential; we will not ask you for your password (except when you log in to our platform).
What are your data protection rights?

Our Company would like to make sure you are fully aware of all of your data protection rights. Every user is entitled to the following:

The right to access – You have the right to request our Company for copies of your personal data. We may charge you a small fee for this service.

The right to rectification – You have the right to request that our Company correct any information you believe is inaccurate. You also have the right to request for our Company to complete the information you believe is incomplete.

The right to erase – You have the right to request that our Company erase your personal data, but you should understand that your rights are limited since as an EU investment firm we abide and follow very strict laws and regulations, and due to CySEC’s requirements that oblige us to keep client data five years after the termination date, we will not be able to process your request fully. In such case where you have requested erasure of your personal information, we shall only keep data that is mandatory for reporting purposes for five years after the termination date and dispose of any other unnecessary data that is not required. These regulations supersede GDPR rights and if you believe that your rights are not safeguarded because of such restrictions, then it is best that you opt not to open an account with Eurivex and enter into a business relationship.

The right to restrict processing – You have the right to request that our Company restrict the processing of your personal data, under certain conditions, subject to these not disturbing our operations as a regulated EU investment firm.

The right to object to processing – You have the right to object to our Company’s processing of your personal data, but you should understand that your rights are limited since as an EU investment firm we abide and follow very strict laws and regulations on Compliance, Know-Your-Client (KYC), Know-your-business (KYB) and Anti-Money Laundering (AML) regulations which supersede GDPR rights and if you believe that your rights are not safeguarded because of such restrictions, then it is best that you don’t open an account with Eurivex and enter into a business relationship.

The right to data portability – You have the right to request that our Company transfer the data that we have collected to another organization, or directly to you, under certain conditions subject to these not disturbing our operations as a regulated EU investment firm.

Once a request is made, you can expect an official reply within the timeframe of one month. If you would like to exercise any of these rights, please contact us at:

Call us: +357 22 028830

Email us: [email protected]

Attn: Compliance Officer

Updating information

Please let us know if the personal information that we hold about you needs to be corrected or updated.

Cookies

Cookies are text files placed on your computer to collect standard Internet log information and visitor behavior information. When you visit our websites, we may collect information from you automatically through cookies or similar technology.

For further information, visit www.allaboutcookies.org

How do we use cookies?

Our Company uses cookies in a range of ways to improve your experience on our website, including:

Keeping you signed in
Understanding how you use our website
What types of cookies do we use?

There are a number of different types of cookies, however, our website uses:

Functionality – Our Company uses these cookies so that we recognize you on our website and remember your previously selected preferences. These could include what language you prefer and location you are in. A mix of first-party and third-party cookies are used.
Advertising – Our Company uses these cookies to collect information about your visit to our website, the content you viewed, the links you followed and information about your browser, device, and your IP address.
How to manage cookies

You can set your browser not to accept cookies, and the above website tells you how to remove cookies from your browser. However, in a few cases, some of our website features may not function as a result.

Changes to our privacy policy

Our Company keeps its Privacy Policy under regular review therefore it is important that you check our Policy from time to time for any updates. If we make changes we consider to be important, we will communicate them to you. This Privacy Policy was last updated on 31 July 2019.

How to contact us

If you have any questions about Our Company’s privacy policy, the data we hold on you, or you would like to exercise one of your data protection rights, please do not hesitate to contact us.

Email us from your registered email address at: [email protected]

Call us: +35722028830

Or write to us at: 18 Kyriacou Matsi Avenue, Victory Tower, 1st floor, Nicosia 1082 Cyprus

Complaints Handling

Eurivex aims to achieve the highest levels of compliance in providing the Client a transparent, professional, discrete and personalized service. Within this context Eurivex takes Client complaints very seriously. Such complaints shall be handled professionally and with full discretion.

Client complaints can be communicated to Eurivex via email at [email protected]

Please see our Complaints Handling procedures found on our web site in order to submit a complaint, how and when we handle your complaint and if you are not satisfied, how to submit a complaint to the authorities.

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December 2, 2019 12:57 pm

Provision of investment and ancillary services and/or performance of investment activities in a third
country
Pursuant to the provisions of point 4 of the Cyprus Securities and Exchange Commission’s
Circular C256, it is hereby noted that Eurivex Ltd has received clients/provides/performs
services/activities from and in the below third countries:
Armenia, British Virgin Islands, Cayman Islands, China, Hong Kong, Republic of Seychelles,
Russia and Taiwan

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December 2, 2019 12:56 pm

Trading foreign exchange, Gold/Commodities, Options, CFDs, Stocks, Indices, Futures, ETFs, Online Funds, Bonds and in general derivatives fully funded or on margin carries a high level of risk, and may not be suitable for all investors.

As a Cyprus Investment Firm, fully abiding with MiFID regulations, we shall run a suitability and appropriateness test before commencing our relationship with you in order to understand your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your investment and therefore you should not invest money that you cannot afford to lose.
Past experience or performance is not a guide for future performance.

Market Opinions

All opinions, news, research, analyses, prices, or other information contained on this website is provided as general market commentary, and does not constitute investment advice. Eurivex Ltd., will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

No Warranty

Eurivex Ltd disclaims liability towards any subscriber, client, partner, supplier, counterparty and other recipients for: the accuracy of any market quotations, any delay, inaccuracy, error, interruption or omission in providing market quotations, and any discontinuance of market quotations.

The Publications of Eurivex are not updated after their release and will due to changing circumstances become inaccurate and possibly misleading after a period of time which may be vary from seconds and minutes to days, weeks and months depending on the Information. Eurivex Ltd gives no guarantee against, and assumes no liability towards any recipient for, a Publication being outdated.

If a Publication becomes outdated, Eurivex Ltd shall be under no obligation to;
update the Publication, inform the recipients of a Publication, or perform any other action. Eurivex Ltd reserves the right at its sole discretion to withdraw or amend any Publication or Information provided at any time without notice (prior or subsequent).

Internet Trading Risks

There are risks associated with utilizing an Internet-based deal execution trading system including, but not limited to, the failure of hardware, software, and Internet connection. Since Eurivex Ltd does not control signal power, its reception or routing via Internet, configuration of your equipment or reliability of its connection, we cannot be responsible for communication failures, distortions or delays when trading via the Internet. Eurivex and our partners through whom we operate our trading platforms employ back up systems and contingency plans to minimize the possibility of system failure, and trading via telephone is available.

Use of the website

Any use of the Eurivex.com and Eurivex.eu websites is subject to Eurivex “Terms of Use”, as amended from time to time, and the “Copyright” provisions, as amended from time to time, both of which shall be construed as constituting an integrated part of this disclaimer.

Eurivex Ltd shall not be liable for any damage or injury arising out of any person’s or entity’s access to, or inability to access, any website of Eurivex and the trading platforms associated with Eurivex. This limitation includes, but is not limited to, any damage to computer equipment and computer systems caused by virus, malware and any other harmful computer coding.

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December 2, 2019 12:54 pm

All content of the eurivex.com and eurivex.euwebsite is the property of Eurivex Ltd unless otherwise stated. For pages where no third-party rights are listed (in the copyright statement at the bottom of each page), the following rules apply:
You may print the pages and store one copy on your PC for personal use.
You may not distribute the information to others but you may quote opinions and information on the site if you include a clear reference to Eurivex and to the website and to the disclaimer available on WWW.EURIVEX.COM.
You may also link to any portion of the site if the link clearly states the name of WWW.EURIVEX.COM and if it opens the page in a new browser window and not in a foreign frameset.
No other uses of the website and its content than the ones described above are allowed or may be inferred unless expressly permitted in writing by Eurivex Ltd.
Any questions about copyright issues in relation to the website should be directed to: [email protected]

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November 15, 2019 9:45 am

• Unlisted companies seeking finance and easy access to a secondary market.

• Investors seeking new ways of investment, with awareness of the high risk of the market.

• Listed companies that are not able or willing to undertake the higher costs of remaining in a regulated market, they are now offered an opportunity to be listed in this particular market with simplified procedures, subject to first delisting from the regulated market following an acquisition.

• The market is characterised as unregulated and therefore it does not come under the mandatory provisions for

regulated markets which impose strict listing requirements and continuous obligations.

• It is considered as a Multilateral Trading Facility (MTF) and will operate in accordance with the Regulative Decisions adopted by the CSE.

• The CSE will be exclusively responsible for setting the listing requirements and continuous obligations of the issuers and Directors, as well as for any sanctions to be imposed for any violation of the Rules.

• The Securities and Exchange Commission will supervise the issuers regarding the publication of a Prospectus, if this is required. In addition, the Securities and Exchange Commission will supervise the CSE as a market operator which operates a Multilateral Trading Facility (MTF).

• The issuer must have published audited accounts, had normal operations and related activities for at least the two years preceding the application. Newly established companies will be able to be listed if the CSE council judges that potential shareholders are given satisfactory information that would allow them to access properly the value of the titles, from the Nominated Advisor of the issuer.

• Throughout the flotation procedure, the issuer must have a Nominated Advisor.

• The issuer must be a public company with a satisfactory number of investors. No minimum share capital must be dispersed among the general public.

• There is no criterion as to the minimum market capitalization an issuer must fulfill.

• There is no criterion for the minimum shareholders equity an issuer must have.

In addition to the above listing requirements on the Emerging Companies Market, the general requirements of the existing markets of the CSE will also apply. These are:

• The issuer must have been properly established and operating, and must be a public company pursuant to the public companies law of its country of incorporation, which provides to the issuer the power to issue shares to the public.

• The issuer must be authorised to issue the specific shares which seeks to float in pursuance to the law of the country of incorporation, the memorandum and articles of association or any other document governing the terms of its incorporation and relations among its members.

• The issuer is proposing the flotation of freely transferable securities.

• The issuer shall not undertake any commitment in any way incompatible with the interest of its shareholders.

• Equal treatment must be secured to the beneficiaries of securities of the same category, in respect of all rights or obligations related thereto.

• In the case of shares, it must be ensured that any future issue shall first be offered to existing shareholders pro rata according to the amount each holds in the issuer’s share capital, unless the shareholders shall decide otherwise by special resolution.

• Fully paid securities shall be proposed for flotation.

• The listing must concern all the securities of the same category which have, or will be, issued, as well as all options or other derivatives which are convertible or offer the possibility of being converted into securities in the same category as the securities to be floated.

• The issuer must be prepared and able to deliver its Register to the Central Depository and Registry and to respond to any obligation upon the undertaking or the future keeping of the Register or Registers of its shareholders.

For Companies

Trading on the E.C.M. will offer the following advantages for unlisted companies:

• It is an alternative method for securing financing at competitive cost.

• It promotes the recognition and reputation of the companies.

• It prepares them – if they wish – to transfer to the regulated market, through the gradual increase of the dispersion and velocity of their shares.

For companies already listed, entry into the E.C.M. offers:

• The possibility of flotation with simplified procedures as long as they first delisted from the regulated market, if they are unwilling or unable to cope with the cost of maintaining the increased obligations of the regulated markets.

For credit institutions – Investment Firms

• Expansion of operations to new products/services.

• Increase of recognition value and reputation.

• Possibility of self-regulation, hence increase of market confidence towards them.

For investors

• Creation of new investment opportunities for investors who wish to invest in companies with high prospects for development, but also high risk.Methods for Listing

The listing of a company on the Emerging Companies Market can be achieved in two ways:

(a) By public offering: If the offering is public, greater than Euro 2.5 million and is addressed to over 100 persons, a

Prospectus and approval from the Securities and Exchange Commission will be required.

(b) Through private placement: If addressed only to institutional investors (strategic or other) or to fewer than 100

persons and less than Euro 2.5 million will be raised, an Admission Document must be submitted to the CSE, without a requirement for approval by the Securities and Exchange Commission.

(c) A combination of (a) and (b) above.

An issuer who is seeking to float securities on the Emerging Companies Market must submit the following documents, together with the required fee:

• An application in the Form contained in the Annex as determined by the Board.

• An Admission Document.

• A copy of the decision required for the issue or placement of the securities.

• A copy of a Memorandum and Articles of Association certified as authentic.

• Declarations in Forms I and II on behalf of the majority of the board of directors and including at least the chairman’s declaration.

• A Prospectus and approval from the Securities and Exchange Commission, if required.

Listing Application

The Admission Document must include:

• An analytical background of the issuer.

• An adequate Business Plan stating the issuer’s short- and long- term business plans.

• Information about the Board Members and the shareholders who own the major part of the issuer’s share capital.

• Information about the issue.

• Business risks.

• Audited accounts (if any) for the last two years prior to the application.

• Intended use of the capital to be raised.

General

• Transactions on the Emerging Companies Market will be conducted as on regulated markets.

• The current trading system of the CSE will be used.

• The provisions for guarantee Fund, maximum trading limits and Members participation in the guarantee fund shall apply.

• The provisions for off-exchange trading shall apply.

• The existence of a market maker is not mandatory.

Trading Hours

The trading hours of the Emerging Companies Market are as follows:

• 10:15 – 10:30 Pre-opening (RTP 10:28-10:30)

• 10:30 – 17:05 Continuous trading

• 17:05 – 17:20 Closing Trading

CYPRUS STOCK EXCHANGE

71-73 Lordou Vironos Avenue , 1309 Nicosia

Tel.: +357 22712300 , Fax: +357 22570308

www.cse.com.cy , e-mail: [email protected]

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November 15, 2019 9:44 am

1.) The lowest tax regime in Europe. Corporation tax rate is 10% on net profits.
2.) Cyprus has 45 plus Double Tax Avoidance Treaty agreements
3.) Allows nominee shareholder and director structure – beneficiary owner’s identity can be hidden from public company record
4.) A full member of EU (since May 2004).
5.) Eurozone member since 2007. Euro is official currency.
Low tax
Cyprus has the lowest tax regime in Europe and its role as an international financial centre is greatly enhanced because it is an EU member, a Eurozone member and its tax system is in full compliance with EU and OECD requirements. The corporation tax rate is 10% on net profits. Other key advantages include:

There is no withholding tax on payment of dividends, interest and royalties by a Cyprus company to non-resident individuals or companies.
Dividend income received in Cyprus is wholly exempt from tax in Cyprus (under certain conditions).
Profits from the disposal of shares are not taxable for all Cyprus tax residents.
50% of interest received is exempted unless the interest arises in the ordinary course of business (e.g. interest on overdue debtor balances).
There is no restriction in the carry-forward of tax losses. They can be carried forward indefinitely to be set-off against future profits.
Group relief is available whereby losses from a company can be set off against taxable profits of other companies in the same group.
Reorganisations, amalgamations, mergers and acquisitions of companies can be effected without any tax implications.
Exemption from capital gains tax (except on sale of immoveable property situated in Cyprus).
No exchange control restrictions
Cyprus has 42 Double Tax Treaty agreements which apply to 40 countries and which can be exploited to minimise tax.
Confidentiality and anonymity of beneficial owners is safeguarded (true identity is only disclosed to local banks, if a local account is opened and information is not disclosed to any third party or to other countries, except in the case of properly authorized criminal investigation (drugs, terrorism, e.t.c.).

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November 15, 2019 9:42 am

The Cyprus Stock Exchange, a eurozone member exchange allows private or public companies domiciled in any jurisdiction in addition to Cyprus to issue bonds and list them on the Emerging Companies Market of the Cyprus Stock Exchange (ECM) under simplified listing rules and in record time.

Such a listing of bonds is ideal for:

Promoters who wish to raise money from other investors and are looking to operate through an approved regulatory structure,
Promoters who have lined up pension funds and other institutional investors wishing to invest in their project or company whose charter allows them to invest only in listed titles trading on recognized stock exchanges,
Companies who wish to bypass the banks and offer a better return to investors directly and by issuing their bonds, raise money
The minimum amount of the bonds that can be listed on any eurozone stock exchange, including Cyprus is EUR 200.000 per listing. The Bond Registry is maintained by the CSE in electronic format.

A Trustee will need to be appointed with a Trust agreement in place in order to protect the rights and act in the best interests of bond holders.

Once the bonds are listed, the CSE will provide the ISIN code allowing the bonds to be accessible by all professional investors using their Bloomberg or Reuters terminals. The whole listing process takes 2 weeks to complete and the fees are very reasonable.

Companies interested to list their bonds on the ECM need to maintain a CSE approved Nominated Advisor (Nomad) to handle the listing procedures. Eurivex is an approved and experienced Nomad.

Eurivex offers complete package for bond listings including finding all the professionals to make your bond issue a success.

Eurivex Contact details

Head Office Address 18 Kyriacou Matsi, Victory Tower, 1st floor, Nicosia 1082, Cyprus

Enquiries: [email protected]

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November 15, 2019 9:41 am

The Emerging Companies Market of the Cyprus Stock Exchange (ECM) is very similar to what the AIM is for the London Stock Exchange, but with the added advantages that it has very relaxed listing rules.

For example, in this market, there is

no requirement for daily volume (hence no fictitious trades needed)
no maximum ownership rule and (hence no need to do illegal stock parking)
no minimum market capitalization criteria (even if value drops, no risk of de-listing)
The whole listing process takes 2 weeks to complete and the fees are very reasonable.

Using the ECM/CSE to your best advantage

A listed company on the ECM/CSE is ideal for beneficial owners to:

Allow pension and other regulated funds such as UCITS to invest in your listed titles (shares or bonds) as they can only invest in listed titles trading on recognized and regulated stock exchange,
Use idle funds that need a justification to tax authorities before repatriation to home country to invest in various projects,
Have the share registry maintained electronically by the Cyprus Stock Exchange
Acquire other companies, listed or private, operating anywhere in the world either by cash or through share issue/swap to bring those companies under the control of the Cyprus holding PLC on the valuation suitable to beneficial owners so that there are no tax implications at the other end,
Lend money to own entities operating in home country from Cyprus
Issue shares to raise money from other investors
Issue debt or bonds which can subsequently be listed on the CSE
For new startups a public company is formed with 10-12 shareholders, all of whom can be nominees and together with a business plan and 3-year financial forecasts, then list the shares on the ECM/CSE.

Eurivex has a method to make sure that the UBO controls all the shares of the nominee shareholders, thus making sure that not even one share falls into wrong hands.

A listed company will require minimum 3 Directors, with 1 Director Executive to be responsible for the day-to-day affairs of the company. The other 2 can be non-executive directors.

All decisions are made by the Board who is answerable to shareholders once a year at the AGM.

Shareholders can vote through proxies at the AGM. The CSE maintains the Share Registry in electronic format. The CSE will also provide the ISIN code, available through Bloomberg/Reuters and closing prices are updated daily on the CSE’s web site, which is also available in English.

The CV, educational and business background of all directors will need to be provided to the CSE and is open for public scrutiny.

Every listed company on the ECM needs to appoint an approved by the Cyprus Stock Exchange Nominated Advisor (Nomad) which will be responsible for the company’s listing.

Eurivex is an approved Nomad and offers complete solutions including finding the professionals to register the public company, prepare the Admission Document, pass the application through the CSE and act as the company’s Nomad offering solutions to most of your problems.

The company also needs to have registered office, legal advisor, auditor, and reveal the banks where it has a relationship.

Private placement of shares

Before the company is listed, it can organize a private placement of shares and raise money. There is no limitation on the amount raised, but if the shares are issued at a premium, then this needs to be justified to the CSE.

Once the private placement is completed, we shall then simply list the shares on the CSE.
There is no requirement to hold an IPO. Existing shares are simply listed.

IPO

If the listed company wishes to hold an Initial Public Offering (IPO) after its application is approved, then it may do so but up to EUR 2.5 mln under simplified procedures.

If the amount of the IPO is above EUR 2.5 mln or the issue will be made to more than 100 investors, then the company needs to prepare a prospectus and submit it to the Cyprus Securities & Exchange Commission for approval before it can proceed.

Otherwise, if the IPO is below EUR 2.5 mln or under 100 investors, it will do so under simplified listing procedures and by submitting the Admission Document only.

About Eurivex

Eurivex Limited is a Cyprus regulated investment firm regulated by Cyprus Securities & Exchange Commission (CySEC, # 114/10), licensed to trade in shares, bonds and forex through online trading platform. Eurivex is licensed to offer portfolio or asset management and hold client funds in safe custody.

Eurivex has also been accepted as a Nominated Advisor for listings on the Emerging Companies Market of the Cyprus Stock Exchange.

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Disclaimer & Regulatory information
Eurivex Ltd is a Cyprus Investment Firm, authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC), License number 114/10. Company Reg. HE 255430. Headquartered and based in Cyprus, member of EU.

Risk warning: Investing in financial instruments and other derivatives involves a high degree of risk and may not be suitable to all investors. Trading in such financial instruments can result in both an increase and decrease in capital. If you invest through Eurivex Ltd, the value of investments may go down and your capital will be at risk. Eurivex Ltd operates a secondary market but there is no guarantee that all buy/sell orders will be completed at the desired prices and there is a risk that an order may not be completed in the Eurivex secondary market if there is no matching order. There is no guarantee that you will be able to exit early by selling your investment. Eurivex Ltd does not provide investment, tax or legal advice. If you are unsure about the suitability of an investment, you should speak to a financial adviser. Please refer to our Risk Warning available on our web site for further information.