XCH team of experts helping our prominent clients at any stage, from the establishment and activation of a bank in Cyprus to its expansion or restructuring and on a continuous basis with compliance support. We offer a wide range of services for banks such as:

  • Bank registration
  • Bank activation
  • Anti-Money laundering compliance
  • Banking supervision issues
  • Advice on capital adequacy directive
  • Advice on merger control/antitrust
  • Compliance with national and EU Laws
  • Leasing contracts
  • Mortgage credit issues
  • Consumer credit issues
  • Payment systems advice
  • Cheque truncation advice
  • Money transfer advice
  • Currency exchange advice
  • Outsourcing advice
  • Advice on advertisements

Payment Services Advisory

XCH offers set-up and authorization services for a Payment Institution (PI) license and post-license compliance support. With this license a PI may offer its services freely in the entire European Union.

Our services include:
• Advisory support towards authorization and registration of a PI.
• Preparation of the Application File in accordance with current regulatory requirements, to include, among others:
- Design and build the PI structure, and based on your needs (in a way that it shall be cost-efficient),
- Prepare a custom-built Operations Manual, in the most efficient manner, and based on your needs,
- Prepare the Money Laundering Manual and the Know Your Client (KYC) policies, in the most efficient manner and based on your needs,
- Prepare the business plan,
- Complete the application form to be submitted to the relevant EU regulatory authority
- Review the questionnaires of the shareholders, directors and heads of departments of the proposed IF,
- Locate qualified executive and non-executive directors (if needed),
- Complete the relevant checklists,
- Prepare necessary justifications to be submitted to the relevant EU regulatory authority, as applicable,
- Prepare the letter(s) to accompany the application, in the events that any exceptions may be requested, as applicable,
- Guide you in providing all the necessary documentation and certificates,
- Answer to any relevant questions concerning the application process,
- Undertake to be responding, on your behalf, to the authority's queries, and suggestions relating to the application.
• Full legal, accounting and auditing support of PIs and Banks.
• Compliance consulting to PIs and Banks.
• Executive Training to personnel of PI and Banks.

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