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Submission of applications to the CBC for licensing / approval purposes in an e-readable format, effective as from 2 August 2021

Friday, 16 July 2021

The Central Bank of Cyprus (“CBC”), announces that, with effect from 2 August 2021, all applications / notifications submitted to the CBC for the purposes of granting a licence / approval such as:

1. Applications for:

  • the authorisation of credit institutions
  • the authorisation of payment institutions
  • the authorisation of electronic money institutions
  • the authorisation of credit acquiring companies
  • the authorisation of bureaux de change businesses
  • the authorisation of financial leasing companies
  • the authorisation of securitization management companies,

2. Applications for the acquisition or increase of a qualifying holding in any of the aforementioned entities.

3. Applications for the assessment of the suitability of the members of the management body and key function holders of the aforementioned entities.

4. Applications for:

  • the authorisation of credit intermediaries,
  • the granting of approval for the registration of agents of payment institutions in the relevant Registers of the CBC,
  • the granting of approval for the registration of agents of electronic money institutions in the relevant Registers of the CBC

5. Notifications by authorised entities for the provision of services in other member states on a cross border basis, or via a branch (where passporting procedures are applicable)

should be submitted only via email (*) in an e-readable format, i.e. they should be automatically converted in .pdf format, so as to provide the CBC the capability to electronically read the text of the documents and to further process it. Documents which are not issued by the applicant entity, such as certified copies of academic degrees, certificates of clean criminal record which are issued by the Police etc. are excluded from the aforementioned requirement, however, such documents should also be scanned and submitted only via email in a .pdf or .jpg format.

Notwithstanding the above, the originals of all documents must be kept at the registered office of the applicant entity and the CBC reserves the right to request their submission to the CBC, at any time. 

 

(*) Applications should be submitted: