- Banks licensed by the Central Bank of Cyprus or by a competent supervisory authority of another EU member state.
- Cooperative credit institutions which have been licensed by the Authority for the Supervision and Development of Cooperative Societies of Cyprus.
- Institutions which provide postal payment services and which issue electronic money by virtue of relevant legislation.
- The European Central Bank and national central banks when not acting in their capacity as monetary or other public authorities.
- Member states or their regional or local authorities when not acting in their capacity as public authorities.
- Electronic money institutions that have been granted and maintain a valid authorisation to operate by the competent supervisory authorities of other EU member states. These institutions may either exercise the right of establishment or the right to provide services on a cross – border basis, provided that the competent authorities of the home member state submit to the CBC a notification in the manner prescribed by the Electronic Money Institutions Directive (241/2012) issued by the Central Bank of Cyprus.
For further information relating to receiving authorisation for the operation of an electronic money institution in the Republic of Cyprus contact us using [email protected]
Theodorou Law is a Cyprus law firm with Cyprus lawyers and other legal experts on legal matters involving Cyprus law, EU law and international law. The above should be used as a source of general information only. It is not intended to give a definitive statement of the law and is subject to the disclaimer.