(a) Any legal person may apply to the Board to become a Regular Member of the Association of Cyprus International Financial Firms (ACIFF), if it fulfills the following preconditions:
(i) It is legally authorized to operate as a Financial Firm in Cyprus and
(ii) Provides financial services or activities in Cyprus and abroad
(b) An Association, corporate body or any other union of persons, including a company with at least two members, registered in Cyprus, with a legal personality and of non-profit nature and all of its members are Financial Firms with international activities.
There is also the possibility for a legal person that does not fulfil the above criteria to become an Associate Member under certain conditions. Associate Members do not have the right to vote and can attend General Meetings and Board Meetings only by written invitation.
The application of any legal person to become a Regular or Associate Member of the Association of Cyprus International Investment Firms (ACIFF), shall be examined initially by the Board, which may approve it with Special Majority. In the event of approval of its application by the Board, the applicant is rendered a Regular or Associate Member if the decision of the Board confirmed by the General Meeting with Simple Majority.
Funding of the Association:
Funding of the Association will derive from the contributions of its Members and any other activities of the Association of Cyprus International Financial Firms (ACIFF).