CySEC Announces Voluntary Licence Lapse for Scivias Trust Management Limited

CySEC Announces Voluntary Licence Lapse for Scivias Trust Management Limited

Nicosia, Cyprus – The Cyprus Securities and Exchange Commission (CySEC), the island nation's primary financial regulator, has officially announced the lapse of authorisation for Scivias Trust Management Limited. The announcement, dated 13 October 2026, confirms that the company voluntarily relinquished its licence to provide administrative services, effective from 27 May 2025.

According to the official text released by CySEC, Scivias Trust Management Limited (referred to as 'the Company') "expressly waived its authorisation for the provision of administrative services pursuant to section 16(1) of the Law Regulating Companies Providing Administrative Services and Related Matters of 2012, as in force (the ‘Law’)." This voluntary waiver means that the Company's authorisation, bearing the number 161/196, automatically ceased to be valid on the specified date. Consequently, CySEC has taken the further step of permanently deleting Scivias Trust Management Limited from its Register of licensed persons, as mandated by section 16(2) of the same Law.

Scivias Trust Management Limited was, prior to this announcement, an entity licensed to provide administrative services in Cyprus. Such companies typically offer a range of essential support functions for businesses operating within or through Cyprus. These services commonly include company formation, acting as a registered office, providing secretarial services, offering nominee director or shareholder services, and general corporate administration. These functions are crucial for ensuring companies comply with local legal and regulatory requirements, manage their corporate governance effectively, and facilitate international business operations.

It is important to note that this announcement signifies a voluntary relinquishment of the licence by Scivias Trust Management Limited itself, rather than a revocation imposed by CySEC due to regulatory breaches or non-compliance. While the official announcement does not provide specific reasons for the company’s decision, such waivers often occur when a company decides to cease operations, pivot its business model away from regulated services, or undergo a restructuring. The time lag between the effective date of the licence lapse (27 May 2025) and the public announcement (13 October 2026) is also typical of regulatory processes, allowing for internal procedures and verification before public disclosure.

What This Means for the Market

The lapse of Scivias Trust Management Limited's authorisation carries several implications for various stakeholders:

• For Clients and Investors: Any clients or businesses that were utilising the administrative services of Scivias Trust Management Limited should have already been informed by the company of its decision to cease regulated operations. This official CySEC announcement serves as a public confirmation of that status. Clients would have needed to transition their services to an alternative, duly licensed administrative service provider in Cyprus to ensure continuity of their corporate obligations and compliance with Cypriot law. Failure to do so could lead to administrative penalties or issues with company registration and maintenance.
• For Other Administrative Service Providers: For other firms operating within Cyprus’s administrative services sector, this announcement underscores the dynamic nature of the regulatory landscape and the importance of maintaining proper licensing. It highlights CySEC's ongoing vigilance in keeping the register of licensed entities accurate and up-to-date, thereby ensuring that only authorised firms provide regulated services. This transparency helps maintain a level playing field and reinforces the integrity of the sector.
• For the Wider Cyprus Market and its Reputation: From a broader market perspective, CySEC’s announcement demonstrates the regulator’s commitment to transparency and robust oversight. The Law Regulating Companies Providing Administrative Services and Related Matters of 2012 is a cornerstone of Cyprus’s efforts to maintain a well-regulated and credible financial services industry. By promptly updating its public register and announcing changes in authorisation status, CySEC reinforces confidence among international investors and business partners that the Cypriot market operates under stringent regulatory standards. This proactive approach helps to safeguard Cyprus’s reputation as a reputable international business and financial centre.

In conclusion, while the specific reasons behind Scivias Trust Management Limited's decision to waive its authorisation remain undisclosed, CySEC's official announcement serves as an important update for all stakeholders. It reaffirms the regulator's role in ensuring that only authorised entities provide administrative services in Cyprus, thereby maintaining the stability, integrity, and transparency of the island’s financial ecosystem. Businesses and individuals seeking administrative services in Cyprus are always advised to verify the licensing status of any provider through CySEC's official public register.

This article covers an official CySEC announcement. For more information, corrections or tips, contact report@cyprus-insider.com.