CIF Cyprus is a unique identification number assigned to businesses operating in Cyprus for tax purposes.
Detailed answer to your question
CIF Cyprus stands for “Cyprus Identification Number” and it is a unique identification number assigned to businesses operating in Cyprus for tax purposes. According to the Cyprus Tax Department, “all natural or legal persons who must be registered with the Inland Revenue Department for tax purposes are obliged to obtain a TIN (Tax Identification Number) and a CIF (Cyprus Identification Number).”
The registration for CIF Cyprus is mandatory for businesses that operate in Cyprus and engage in economic activity. The CIF Cyprus is used for tax purposes, including VAT and income tax, as well as for other administrative tasks. It is issued by the Cyprus Registrar of Companies and Official Receiver.
In addition to businesses, non-profit organizations and trusts in Cyprus are also required to obtain a CIF Cyprus number. The number must be listed on all official documents and financial statements of the company.
Interesting Facts:
- CIF Cyprus is unique to each company registered in Cyprus, and consists of eight characters (e.g. HE123456).
- The first two letters of the CIF Cyprus number refer to the legal form of the company.
- The next two digits represent the country code, which is always “CY” for Cyprus.
- The final four digits form a unique identification number for the company.
- According to the Cyprus Tax Department, “failure to obtain a CIF or using an invalid or false CIF shall render any document or commercial transaction null and void.”
Quote: “The tax code is written by men with considerable net worth, and I am sure they were delighted to compromise with their fellow millionaires.” -Sandra Day O’Connor
Table:
| First Two Letters | Legal Form |
|---|---|
| HE | Public Limited Co. |
| HI | Private Limited Co. |
| ME | Sole Proprietorship |
| EE | Partnerships |
| PE | General Partnerships |
| AE | Limited Partnerships |
See further online responses
Cyprus Investment Firms (CIFs) are one of the most useful structures in the EU for providing and performing investment services and activities in Cyprus or abroad on a professional basis on certain financial instruments.
A Cyprus Investment Firm (CIF) is one of the most useful tools in the European Union (and Internationally) if you intend to provide and perform investment services and activities either within Cyprus or abroad on a professional basis on certain financial instruments.
A Cyprus Investment Firm (CIF) is considered any legal entity offering professional investment services established in the Republic of Cyprus and licensed by the Cyprus Securities and Exchange Commission (CySEC).
A Cyprus Investment Firm (CIF) is considered any legal entity offering professional investment services established in the Republic of Cyprus and licensed by the Cyprus Securities and Exchange Commission (CySEC).
A Cyprus Investment Firm (CIF) is incorporated in Cyprus and regulated by CySec. These firms can provide different financial services such as underwriting, portfolio management, investment advice, reception and transmission of orders on behalf of clients, etc.
When applying for a CySEC forex & CFD broker license, a special company unique to the island is formed, namely a Cyprus Investment Firm (CIF). While the majority of licensed CIFs are forex brokerages, a CIF is not limited to brokerages and can also include portfolio management and asset management firms.
Cysec license – What is a Cyprus Investment Firm (CIF)? A registered, regulated and supervised firm, reporting in regular intervals to the Cyprus Securities and Exchange Commission (CySEC). CIFs must be licensed by the Cyprus Securities & Exchange Commission, which is the relevant regulatory and supervisory authority.
A Cyprus Investment Firm (CIF) is licensed and supervised by the Cyprus Securities and Exchange Commission (CySEC) under Law 87 (I)/2017 regarding the provision of investment services, the exercise of investment activities and the operation of regulated markets, which is the national transposition of Directive 2014/65/EU of the European Parliament and of the Council on markets in financial instruments (MiFID II).
See the answer to your question in this video
The video introduces IFIC Cyprus Limited, an investment firm regulated by the Cyprus Securities and Exchange Commission. The company offers a range of CFD products for trading including forex, cryptocurrencies, commodities, indices, and stocks. IFIC provides flexible account types, analytical and charting tools, and a powerful affiliate and referral system. To get started, users can create an account, choose a package, deposit their investment amount, and begin earning profits.
More interesting questions on the topic
Furthermore, What is a Cyprus investment firm (CIF)?
The response is: A Cyprus Investment Firm (CIF) is licensed and supervised by the Cyprus Securities and Exchange Commission (CySEC) under Law 87 (I)/2017 which provides for the provision of investment services, the exercise of investment activities and the operation of regulated markets and other related matters.
Thereof, What is a CIF and how does it work?
Answer to this: Once licensed, a CIF is able to freely provide investment services through representative and branch offices across 30 EU and EEA member states via the EU Passporting System for Investment Firms.
In this way, What does ICF stand for in Cyprus?
Max. shoulder Spread The ICF (Investor Compensation Fund) is a Cyprus investors compensation Fund, which cooperates with well-known regulator CySEC. Compensation Fund ICF carries out the payment of compensation to clients of brokers, under the regulation of CySEC, in case of confirmation of their insolvency.
Why is Cyprus a good place for investment services providers? Response will be: Cyprus has become a significant jurisdiction for investment services providers due to a combination of business environment and lifestyle. The most prominent reasons are considered the following: Athos Demetriou Associates in proud to be working alongside some of the most prominent CIFs worldwide.