Services‎ > ‎Brokerage‎ > ‎


Procedure for Opening of Trading Account

To open a trading account the following procedure takes place as set out and monitored by the Cyprus Securities and Exchange Commission rules and regulations. According to the regulations investors wishing to transact on the CSE first and foremost have to appoint a registered member of the CSE as their true and lawful attorney to appear before the Competent Authorities of the CSE and to take any action in relation to the securities that are today or will be hereafter registered in the investor’s name/s.

To authorise the attorney to execute transactions on the investor’s name/s, the investor has to sign the Power of Attorney, which appoints Global Capital Securities and Financial Services to act on the investor’s behalf to give orders of purchase and sale of securities traded on the CSE. Although there is one type of Power of Attorney applicable for all types of investors, however the documents requested by the Competent Authorities of the CSE to associate the application for opening a trading account vary in respect to the type of the investor. Investors are categorised in four types: individuals – local residents; legal entities – locally registered; individuals – foreign residents and legal entities – registered abroad.

Individuals – Local Residents, have to submit along with signing up the Power of Attorney (LINK) the following documents and charges:

  • A copy of the investor/s ID, Driving Licence or Passport. The investor’s personal information in the above documents needs to be sufficiently readable.
  • If the investor/s already owns shares previously bought or attained through private placements or other means should also submit an Adhoc Investors Statement, issued by the Competent Authorities of the Cyprus Stock Exchange.
  • The CSE Authorities impose a current charge of £5.00 for opening a trading account and an additional transfer fee of £1.00 for every listed security that the investor owns and wishes to transfer from the control of the Central Depository to the control of Global Capital Securities and Financial Services, in order to sell them.

Legal Entities – Locally Registered, have to supplement additional documents in order to be granted a trading account. These documents are as follows:

  • The Certificate of the Directors obtained from the office of the Registrar of Companies. The Certificate has to be original (copies are not accepted) and less than a month of its date of issue. The company directors who will sign the Power of Attorney have to be the same people referred on the original Certificate of the Directors.
  • Extract from the minutes of the meeting of the Board of Directors (LINK) document stating the names of the directors authorized to bind the company with their signatures for the purchase and sale of securities in the Cyprus Stock Exchange, until further notice.
  • Submission of the original or a registered copy of the original Memorandum of Association of the Company.
  • Copy of the Articles of Association of the Company.
  • Shareholders certificate.
  • Power of Attorney, Adhoc Investors Statement and charges for opening a trading account remain the same as in the case of the individual investor.

With respect to the other two categories of investors, i.e. the foreign investors whether individual or legal entity (institutional) the documents for opening a trading account vary. Therefore for prudence purposes prospect foreign clients are advised to communicate directly with our back office personnel to receive first hand the information concerning the multiplications of opening a foreign trading account.

Contact Persons:
Froso Hadjinicolaou;    Tel: +357 22710615
Elena Christodoulidou; Tel: +357 22710638

Application Package for Opening of Trading Account

A person can open up a trading account for transactions on the Cyprus Stock Exchange or the Athens Exchange only after he has provided a number of documents duly completed and signed.

This set of documents makes up the Company's Client Application Package.

The Client Application Package for Opening of Trading Account differs in accordance with the prospective client's own status.

There are different requirements for individuals, companies, home residents and foreigners.

To receive the relevant list of documents needed an interested party needs to contact the Company's Customer Service Desk at +357 22710710.