Bulgarian MiFID License Issued
ArcherCTS announces successful Bulgarian License issued by the Bulgarian Financial Supervision Commission (FSC lisence) under MiFID regulation for an Investment Intermediary.
A Bulgarian Broker and Fund Manager has received a license under the Bulgarian Financial Supervision Commission (FSC). The license permits to conduct business as an investment intermediary within the European Union and European Economic Area under MiFID.
The newly formed broker was assisted by ArcherCTS offers its clients a full turn-key trading technology and liquidity solution as well as access to its extensive knowledge in licensing in different jurisdictions such as Seychelles FSA, Belize IFSC, MiFID (CySec) and NZ FSP.
Mr. Lior Shmuely, founder and CEO of ArcherCTS asserted that “It was a welcome decision to be granted our very first Bulgarian Investment intermediary license under the MiFID regulation. Previously Cyprus (Cysec) has been the jurisdiction of choice for brokers seeking European licenses. ArcherCTS is proud to breakthrough with a legitimate alternative to Cysec with significant advantages to the broker.
Advantages of using Bulgaria as a MiFID Jurisdiction
Bulgaria’s location, access to highly educated multi-lingual professionals at a lower cost than most of Europe with a much smaller competition base than other parts of Europe, have made it an ideal European jurisdiction that allows pass-porting throughout all of regulated Europe under the MiFID mandate.” What also makes Bulgaria an attractive destination for business is its low level of costs and taxes that caused an enormous increase of foreign investments in recent years. Seeing that the Bulgarian government actively collaborates with foreign companies and investors, it is no wonder that more companies seek to invest their business there.
Employing Bulgaria’s benefits, ArcherCTS seized this opportunity to provide their clients with the best solutions. Mr. Shmuely added, “Archer’s role was not only to assist in creating the entity and seeking the investment intermediary license from the Bulgarian Supervision Commission, but to assist in the entire procedure of the necessary requirements in order to establish the license and consult and assist along with its dedicated team of professionals throughout the entire process of the application of the license and the establishment of the licensed entity including staffing and further support of the running entity.”