A Visit to NBI 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, foreign exchange, 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 EU‘s 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 NBI as planned according to its regulatory address that 256 Archiepiskopou Makariou III, Eftapaton Court 2, Unit A, 4th Floor, CY 3105 Limassol, Cyprus.

The investigators came to 256 Archiepiskopou Makariou III in Limassol, Cyprus for a visit to the brokers office on May 7, 2024, and located a 5-storey commercial building with a well-maintained façade.

Upon arrival at the building for further investigation, the survey personnel spotted a directory near the entrance to the building, which displayed that the 4th floor was occupied by NBI Investments Ltd / Cambraro Holdings Ltd and FRS Ship Management Ltd. However, people were not permitted to go upstairs without an access card or an appointment in advance. According to the security guards, NBI existed in the building.

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

Conclusion

The survey team went to Cyprus to visit broker NBI as scheduled, and found the companys name at its regulatory address. This signifies that the broker has a physical business office at the place. 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.