Banc De Binary today announced their plan to launch in Cyprus with a new headquarters in Limassol. The Cyprus office will serve as the company’s European and Middle-Eastern headquarters and represents a multi-million Euro investment in the island.
Established in 2009 in the United States, Banc De Binary’s worldwide headquarters are located in New York. Banc De Binary becomes the first standalone binary options broker to receive CySec regulation and follows provider Spot Option that was granted a license in 2012.
The CySEC license offers an additional layer of transparency, accountability and security to Banc De Binary clients, whose accounts are now fully-protected by the Investor Compensation Fund in accordance with CySEC’s regulations.
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Oren Laurent, CEO and founder of Banc De Binary, said of the move: “Cyprus’s geographic location, excellent infrastructure and high-caliber labor pool made the island our first and only choice for our European and Middle Eastern headquarters”.
The binary options industry as a whole is expected to create 1,200 new jobs in Cyprus, with Banc De Binary set to take on more than 120 people in 2013. This, along with significant corporate tax contributions on projected annual earnings of well over 100 million euros, makes Banc De Binary a considerable addition to the Cyprus business landscape during these challenging economic times.