Cyprus regulation of trust service providers
Cyprus Securities and Exchange Commission (CySEC) pages explain which administrative service providers are licensed and what those published records show. They describe trust management as one regulated service and outline the application process.
Who regulates trust and fiduciary services
CySEC is the regulator for administrative services in Cyprus. Providing services covered by the law in the Republic requires CySEC licensing, including for persons authorized in another member state or a third country. One listed service is management or direction of trusts, so a provider offering that service in Cyprus falls within the published administrative services framework.[1]
CySEC's FAQ says an administrative services provider must be a company registered under the Company Law. It also states that natural persons cannot apply for or obtain an ASP license.
Published licensing categories
The register identifies the authorized administrative services for each approved provider. Its categories include management or direction of trusts, alongside service categories concerning company management. The service list is tailored to each license, so a register entry communicates which listed activities that provider has authorization to perform.[1]
The approved-provider page displays the authorized services beside each provider's register details. The trust category is management or direction of trusts under section 4(1)(a). Company management activities are also covered, with statutory subparagraphs that can vary by provider.[2]
The regulator's FAQ adds that the licensed register includes provider subsidiaries.
How the public register works
CySEC publishes an approved ASP list with individual entries and offers the list for download in Excel format. CySEC also separates approved providers from former providers and from employees offering administrative services. A U.S. reader can use the approved list to see the regulator's published licensing information for providers without relying on a provider's own description.[2]
An approved-provider entry can show its licence number, company registration number, contact details, and the administrative services recorded for it. The register's service information can distinguish an entry that includes trust management from one listing only company management activities.
CySEC also maintains a Trusts Registry for certain trusts governed by Cyprus law. The Commission's register covers trusts that do not fall under the provisions assigned to other competent authorities. Trusts with a trustee regulated by another competent authority are registered in that authority's register. This trust-level record is distinct from the register of licensed ASPs.[1]
What CySEC says about applying
The application materials include a form for requesting authorization, a questionnaire, and a form for submitting information.
It says the application includes the relevant procedures for services the applicant will carry out. For the trust management category, CySEC's answer says an ASP adding that service must notify the Commission without delay.
CySEC says it does not approve the extension of an ASP license to additional administrative services. The same answer says the Commission retains authority to oppose an extension or amendment, request documents or information, or indicate amendments.
Related reading
Cyprus international trust legislation covers Cyprus trust law. The Cyprus reporting rules and U.S. trust forms page addresses reporting and information exchange. The broader Cyprus trusts and U.S. reporting requirements guide connects Cyprus trust topics for U.S. readers. The regulator pages for Mauritius trust and fiduciary business regulation and Jersey trust business regulation and registration show how other jurisdictions present provider licensing.
Questions and answers
Which Cyprus authority regulates trust management providers?
CySEC regulates administrative services in Cyprus. Its published categories include management or direction of trusts as a licensed service.[1]
Does every ASP license include trust management?
No. The registry lists the administrative services for which a license is granted. The approved-provider page separately displays the services recorded for each entry.[1]
What can I find in the approved-provider register?
CySEC publishes an approved ASP list and offers it for download. The entries include licensing and registration details, contact information, and the administrative service categories shown for each provider.[2]
What does the Trusts Registry record?
The CySEC Trusts Registry covers trusts governed by Cyprus law that do not fall within the stated provisions for other competent authorities. A trust with a trustee regulated by another competent authority is registered with that authority, not with CySEC.[1]
How does a company apply for ASP authorization?
CySEC says an ASP applicant submits an application with numbered appendices and pays the application fee at the Commission's offices. CySEC lists an authorization application form and related information forms.[1]
What does the register say about trust services?
The register can show whether a provider is authorized for management or direction of trusts. CySEC says service categories are included in the register according to the application form.[1]
Related resources
Related glossary terms
- Trust register: A trust register is an official record of trusts, their parties or trustees, such as the UK Trust Registration Service and EU beneficial-ownership registers.
Related articles and guides
- Mauritius trust and fiduciary business regulation: Mauritius's FSC describes which Management Companies may act as trustees, the published categories and application materials. It directs readers to a register.
- Bahamas trust and fiduciary business regulation: The Bahamas Securities Commission oversees corporate service providers. Covered roles include trustees of purpose trusts and private trust company agents.
- Nevis trust and fiduciary business regulation: Nevis licensing for trust and corporate service providers: the licence classes, application steps and the Commission's published list of licensed providers.
Tools and official documents
- Foreign trust reporting role finder: Tick the roles that describe a connection to a foreign trust or foreign account to see the forms the IRS and FinCEN instructions discuss. Roles can overlap.
Related pages
- Cyprus: overview: Start page for this jurisdiction.
- Trust legislation
- Reporting and information exchange
- Courts and legal system
Sources and data notes
- Cyprus Securities and Exchange Commission, ASP (Fiduciary Services). https://www.cysec.gov.cy/en-GB/legislation/services-markets/asp/. Retrieved .
- Cyprus Securities and Exchange Commission, Administrative Services Providers. https://www.cysec.gov.cy/en-GB/entities/asp/list/. Retrieved .
Dates in this block record when each source was read for this page.