The Cyprus Securities and Exchange Commission have recently introduced a new “fast track” examination scheme to speed up the examination of the applications before the Commission and to comfort the relevant entities’ eagerness to get their authorization.
Who can participate?
Entities whose applications have not yet been assigned and are pending examination for authorization.
The Scheme applies:
A. To all entities that have submitted applications for authorization in accordance with:
B. To existing International Collective Investment Schemes that have applied to convert into AIFs with Limited Number of Persons in accordance with section 120 of the AIF Law.
The Scheme does NOT apply:
To Administrative Service Providers that have submitted application in accordance with section 11 of the ASP Law (as the “fast track” examination scheme announced on the 27th of January still applies for those entities).
For the examination to proceed, the application must contain all the necessary information according to the provisions of the relevant Law and CySEC Directives.
Herein below you can find the link which will direct you to the relevant announcement from the website of the Cyprus Securities and Exchange Commission. Therein, you will find all relevant information regarding the Scheme, inter alia, its procedure, the applicable “fast track” examination fees which are payable to CySEC according to the type of the applicant’s entity and the indicative time frames regarding the completion of the examination of the applications participating in the Scheme.