An insurance broker is a Company that acts on the best interest of consumers, licensed to offer various insurance products and services from multiple insurance companies.
Unlike an insurance agent, a broker is not tied to one specific insurance company. It assesses the needs of the consumer and presents the best product for those needs, comparing multiple products and services across various insurance companies.
Decide the brokerage name early. The name must be approved by the Cyprus Registrar of Insurers and then by the Registrar of Companies (2 to 3 weeks). Without a name you cannot apply for the Company.
If in a hurry, prioritise the name first.
Documents required for the broker license application.
Sequential stages from name approval to full license.
Approved by the Registrar of Insurers, then the Registrar of Companies.
Incorporation of the entity that will hold the broker license.
Compile credentials, CVs, agreements and rental.
Review and approval by the Cyprus Registrar of Insurers.
Ongoing compliance, accounting and filings handled by our specialised teams.
Bookkeeping and management accounts.
Statutory annual audit by ICPAC-licensed auditors.
Regulatory and tax filings with CySEC and the Tax Department.
Contact us for professional licensing services and avoid costly application rejections.