Cyprus is one of the most appealing financial centers in Europe and the European Union thanks to its taxation system, or better said to the exemptions it offers to companies incorporated here. In the last few years, Cyprus has also emerged as a desired destination for the establishment of Initial Coin Offerings or ICOs which can operate throughout the European Union.
Below, our company formation agents in Cyprus explain how to create an ICO in this country.
There are two ways for launching an Initial Coin Offering in Cyprus:
Our Cyprus company formation consultants can advise on both procedures of launching the ICO.
The simplest way of launching an Initial Coin Offering is by opening a fintech company in Cyprus. The procedure implies the following steps:
IT companies launching ICOs are not requested to register with CySec as long as they do not trade the digital tokens they create.
The second option for launching an ICO in Cyprus is by establishing an investment fund. In this case, the registration with CySec is mandatory and the business owners must prepare a white paper, which is similar to a prospectus, and file it for approval with the Securities and Exchange Commission.
Creating an ICO under the form of a Cypriot investment fund will also require the registration of an entity which can have a corporate or non-corporate form.
Our local consultants can help you launch an Initial Coin Offering in this country no matter the chosen form, so do not hesitate to contact our experts in company formation in Cyprus.