Investment Firms

Unparalleled experience and expertise in obtaining global licenses in EU and offshore jurisdictions for investment firms including Forex Brokers (FX & CFDs)

Increasing regulation globally and the introduction of MiFID II in EU countries have added complexity in applying for and operating an investment firm. Selecting the right advisory firm to guide you through the process and help you operate has never been more essential.

Our licensing and advisory experts have years of experience with global investment firms and regulators around the world including but not limited to Cyprus (CySEC), the UK (FCA), Australia (ASIC), South Africa (FSCA), Dubai (DFSA) and many others including offshore jurisdictions like the Seychelles (FSA), Cayman Islands (CIMA), the Bahamas (BFSB), Bermuda (BMA) and St Vincent and the Grenadines.

Deneo Partners are here to help you navigate through a challenging environment and turn potential issues into opportunities.

Some of the areas of specialization of Deneo Partners:

  • Analysis of operations and advise as to best jurisdiction (s) to obtain license as well as to the type of license to be obtained
  • Assistance with application process and continues follow up with regulators until license is issued (Business Plan, Compliance Manual, AML Manual, Operations Manual)
  • Assistance with initial set up, including full systems set up (front and back end) board composition, hiring of employees and rental of premises
  • Assistance with compliance and AML support, accounting, internal audit and external audit
  • Preparation of business plan and consulting with regards to strategic direction

Global Regulatory Map

Licensing Table

wdt_ID Country Regulatory Authority License Type Minimum Capital Application Timeframe Type
1 Cyprus Cyprus Securities & Exchange Commission (CySEC) A&B Book STP: €150K / MM: €750K 6 – 9 months Regulated
2 United Kingdom Financial Conduct Authority (FCA) A&B Book STP: £150K / MM: £750K 9 - 12 months Regulated
3 South Africa Financial Sector Conduct Authority (FSCA) Category I Net Assets > Net Liabilities 9 - 12 months Regulated
4 Japan Japan Financial Services Agency (JFSA) Type I JPY 50M or more (Net Assets: JPY 100M or more) 9 - 12 months Regulated
5 Australia Australian Securities & Investments Commission (ASIC) A&B Book AUD 1M / 10% of average revenue Unspecified Regulated
6 Belize International Financial Services Commission of Belize (IFSC) A&B Book $500K 5 - 6 months Regulated Offshore
7 Cayman Islands Cayman Islands Monetary Authority (CIMA) A&B Book CI$100K 9 - 12 months Regulated Offshore
8 BVI BVI Financial Services Commission (FSC) A&B Book Up to $1M 5 - 6 months Regulated Offshore
9 Seychelles Financial Services Authority (FSA) A&B Book $50K 5 - 6 months Regulated Offshore
10 Mauritius Mauritius Financial Services Commission (FSC) A&B Book MUR 1 mil 5 - 6 months Regulated Offshore

E-Money & Payment Institutions

Electronic Money Institutions (EMI) and Payment Institutions (PI) are becoming integral parts of the Global economy.

Cyprus is quickly becoming a hub for such institutions with the Central Bank of Cyprus having general oversight of the sector.

We help and guide companies through the application process, providing support for all business and operational aspects post authorization.

We also assist Electronic Money Institutions (EMI) and Payment Institutions (PI) with the Initial set-up and licensing services and also provide ongoing support post authorization.

Some of the areas of specialization of Deneo Partners:

  • Full support during the authorization process
  • Preparation of all internal policies and procedures manuals
  • Assistance with selecting board members and key employees
  • Support on all key functions like compliance, accounting, internal and external audit
  • Training of employees for all key functions

Crypto

The way digital assets are exchanged has changed fundamentally around the world, with the introduction of crypto currencies. We can help you address the challenges and realize the opportunities that Crypto can bring.

The Cyprus Securities and Exchange Commission (CySEC) has adopted the 5th AML Directive (EU) and introduced the Directive 269/2021 through the amended AML/CFT Law which allows the authority to oversee the digital registry of Crypto Asset Service Providers (CASP), adding Cyprus on the map as a key jurisdiction for crypto service providers from all over the world.

Deneo Partners can also assist clients with the application, set-up and company formation for obtaining a Crypto Exchange License and Wallet License with some of Europe’s most popular crypto licenses protected by the Money Laundering and Terrorist Financing Prevention Act (MLTFPA) of the Financial Intelligence Unit (FIU) in Estonia.

Applicants can choose between:

CySEC CASP Registration:

Activities in regards to crypto asset service providers:

  • Cryptocurrency exchanges (crypto-to-crypto and fiat-to-crypto and vice versa);
  • Management, administration, transmission, transfer, retention, custodianship and safekeeping of crypto-assets or cryptographic keys or means which allow for the exercise control in crypto-assets;
  • Offering and/or sale of crypto-assets, including the initial offering;
  • Participation and/or provision of financial services related to the distribution, offering and/or sale of crypto-assets, including the initial public offering:
    • Reception and transmission of orders
    • Execution of orders on behalf of clients
    • Dealing on own account
    • Portfolio management
    • Provision of investment advice
    • Underwriting and/or placing of crypto-assets on a firm commitment basis
    • Placing of crypto-assets without a firm commitment basis
    • Operation of a multilateral system where multiple third-party buying and selling trading interests in crypto-assets are able to interact in the system in a way that results in a transaction

Estonia FIU Crypto Licenses:

  • a crypto exchange license, providers of a service of exchanging a virtual (crypto) currency against a fiat currency, as well as fiat currency against virtual currency; and/or
  • a crypto wallet license, providers of a virtual (crypto) currency wallet service that can provide encryption-protected tools for the storage and transfer of virtual currencies.

CySEC CASP Main Requirements:

  • Initial capital from €50,000 to €150.000, depending on the class of services provided
  • Fit and proper individuals in managerial positions as well as beneficial owners
  • Board of Directors. Minimum of 4 directors, who are fit and proper – 2 to manage the business activities and 2 to act as independent members
  • Executive Directors to have the relevant necessary knowledge and experience to perform their duties
  • Appropriate policies and procedures to be in place to ensure the prudent operations of the CASP
  • Exclusive website for online activities

Estonia FIU Crypto Licence Main Requirements:

  • Local office
  • Local management and compliance officer, covering the fit and proper requirements
  • Share capital of €12.000
  • Bank account with a financial institution within the European Economic Area (EEA)
  • AML and KYC compliance procedures

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