If you have ever faced with question “What is CIF structure?” you know that they have special organizational structure and features that make them different from another companies and individually described. In this article, we would like to get you acquainted with Cyprus distinctive traits.
First of all let talk about board of directors. You are bound with step to submitting an application to CySEC, find and select a board of directors for CIF in the event that it has not been elected before. The minimum requirements are as follows, regardless of the range of investment and additional services:
A minimum of four directors is required. In addition, most of the representatives on the board of directors of the applicant company for the CIF must be residents of Cyprus and reside there. Often, CySEC invites shareholders to also become members of the board of directors.
Presumably, executive directors are hired full-time after CySEC conducts pre-approval and provides final approval for the firm.
One representative of the Council can act as a director, overseeing issues related to the fight against illegal circulation of funds – AML. For this individual, this will be an addition to the CySEC AML inspection. In addition to the above, within 3 months after obtaining prior authorization, the following functions must be performed without fail:
Summing up, creation of powerful organization structure is a little bit complicated and responsible process. That’s why we are always open to give relevant legal advice and our professional assistance with any requests. We always have ready-made licensed companies or turnkey solutions with qualified staff and we will be glad to present them especially for you. Hope that we replied for question “What is Cyprus Investment Firms (CIF) structure?”
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