A Visit to SKANESTAS INVESTMENTS in Cyprus – Office Found

Reason for this visit

Established in 2003, the Cyprus Securities and Exchange Commission (CySEC) is a financial services regulatory authority, overseeing financial products including securities, stocks, forex, etc., and its financial regulation and operations align with the European Unions MiFID financial framework.

Since Cyprus joined the EU in 2004, CySEC has become an integral part of the EUs Markets in Financial Instruments Directive (MiFID) regulations. This means that any company registered in Cyprus can freely bring its business into the entire European market. As a result, Cyprus has invisibly attracted more and more overseas companies to choose to register there. There has been a notable increase in overseas retail forex brokers who are eager to obtain CySEC regulation. Additionally, significant changes have occurred in Cyprus since it adopted the Euro in 2008.

CySEC is now regarded as a reputable regulatory authority, and obtaining a CySEC license gives customers a more positive impression of a company. In brief, obtaining a CySEC license in Cyprus provides clients with a greater sense of security and protection. Furthermore, Cyprus not only has the lowest corporate tax rate among all EU member states but also aims to develop Cyprus stock market into the safest, most reliable, and attractive investment destination. In an attempt to provide investors with a tangible understanding of the current situation of brokers in Cyprus, WikiStock survey team is determined to go to the country for on-site visits to local companies.

On-site visit

In this issue, the survey team went to Limassol, the second largest city of Cyprus, to visit broker SKANESTAS INVESTMENTS as planned according to its regulatory address that 226 Archiepiskopou Makariou III, 1st Floor, CY 3030 Limassol, Cyprus.

The investigators came to 226 Archiepiskopou Makariou III Avenue in Limassol, Cyprus for a visit to the brokers office, and located a 5-storey commercial building with a well-maintained facade in an upscale business center. Moreover, there is a large array of entertainment facilities nearby like restaurants, appealing to a steady stream of people.

Upon arrival at the building for further investigation, the survey personnel spotted a directory by the entrance, which displayed that SKANESTAS INVESTMENTS was situated on the 1st floor.

The inspection team then walked through the lobby and reached the companys office on the 1st floor. However, it was not possible to determine the actual operational scale and working environment of the broker due to the closed door.

Through the on-site investigation, it has been confirmed that the broker has a physical presence at the location.

Conclusion

The survey team went to Limassol, Cyprus to visit broker SKANESTAS INVESTMENTS as scheduled, and found the companys office at its regulatory address. Meanwhile, investors are advised to make a judicious decision following an overall consideration.

Disclaimer

The content is used for informational purpose only, and shall not be taken as a final order for making a choice.