A Visit to ZEMBLANCO 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, forex, etc., and its financial regulation and operations align with the European Union‘s 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 ZEMBLANCO as planned according to its regulatory address that 8 Rigas Fereos Street, 3rd Floor, CY 3095, Agios Nicolaos, Limassol, Cyprus.

The investigators came to 8 Rigas Fereos Street in Agios Nicolaos of Limassol, Cyprus for an on-site visit to the brokers office, and located the Libra Chambers, a 4-story commercial building with a well-maintained façade. And there was an outdoor building directory that prominently displayed that the entire 3rd floor was occupied by ZEMBLANCO.

Upon arrival at the building for further investigation, the survey personnel spotted a directory in the lobby, which also showed ZEMBLANCOs name on the 3rd floor.

The inspection team then took the elevator to the 3rd floor and clearly discovered the company name and logo of ZEMBLANCO, further indicating the companys existence.

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

Conclusion

The survey team went to Limassol, Cyprus to visit broker ZEMBLANCO as scheduled, and found the company at its regulatory address. This denotes that it has a physical business office at the place. Unfortunately, it is not feasible to assess the companys working environment and operational scale due to the inability to enter its office. Accordingly, investors are advised to make a judicious decision following an overall consideration.

Disclaimer

The content is for informational purpose only, and shall not be taken as a final order for making a choice.