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LAVECO life

LAVECO Ltd. Cyprus receives its administrator’s licence from CySec


01/04/2015

LAVECO Ltd. Cyprus receives its administrator’s licence from CySecIn accordance with the EU directive, in 2012 Cypriot legislation made it compulsory for businesses involved in company formation and Administrative Service Providers (ASP) to obtain a licence to operate. Existing companies were given a deadline of June 22nd 2013 to submit their applications. LAVECO Ltd. has had its own office in Cyprus since 1999, and in 2000 was among the first companies to receive permission from the Central Bank of Cyprus to be present on the island as a 100% foreign-owned enterprise.

The structure which we have built up over the last 16 years has proved successful. LAVECO Ltd. Cyprus satisfied all of the requirements of the company review, and on March 2nd 2015 the Cyprus Security and Exchange Commission (CySec) passed its decision issuing the company with the necessary operating licence.

Of course, this subjects not only us, but also all clients of LAVECO Ltd. to a number of requirements. The benefit, on the other hand, is that this allows the possibility for regulated operation. Banks worldwide will accept LAVECO Ltd. as a company with „introducer” status. As a result we will be able to offer our clients more and more possibilities in the banking sphere. Another important benefit is that as a so-called „regulated person” we will be more easily accepted by business partners, and will be able to register companies worldwide for our clients.

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