WhoTrades Ltd is a financial company registered in Cyprus and provides its investment services according to the license, granted by the Cyprus Securities and Exchange Commission and is a member of the Investor Compensation Fund. Cyprus is a long established reputable and tax efficient financial centre. Harmonization within the EU is now a fact: the EU Directives especially Market in Financial Instruments Directive (MiFID) have facilitated in progress. MiFID came into effect as from 1st November 2007 and sets forth a range of new requirements for the entire European financial sector with the aim of introducing a single European market in financial instruments. Its main goal is to promote the emergence of an efficient, transparent and integrated financial trading infrastructure, ensuring a higher degree of investor protection. The Directive contains measures that will change and improve the organization and functioning of investment firms, facilitating cross border trading, while creating strategic opportunities.
In addition, Cyprus has set up tax system which is ideally suited to both inbound and outbound EU investors:
- low taxation (10% corporate tax rate is the lowest in EU)
- extensive double tax treaties network
- exemption from tax of capital gains on shares and securities
- exemption from withholding tax on the repatriation of income including dividends, interests and royaltie
- exemption from tax on dividends received, in some cases
The chairman of WhoTrades Ltd is Victor Mikhailovich Remsha. WhoTrades Ltd is a 100% subsidiary of Closed Joint Stock Company "Investment Holding FINAM". The group of companies includes CJSC “Investment Company FINAM” which has full operational license on Russian stock market and has experience on the Russian for more than 10 years. Finam was among Russia’s first investment companies to offer services on the stock market. To date, Finam has build Russia’s biggest regional network with operations in more than 90 Russian cities. The company represents a rapidly growing global broker.
The clients of WhoTrades Ltd are both individuals and legal entities – residents and non-residents of Cyprus. The majority of transactions on the Russian Securities Market are executed through CJSC “Investment Company FINAM” , Russia, that offers a number of services as analytical market research, financial advices, depositary services and etc for the lowest commission rates.
The business, banking, legal and accounting procedures are patterned after the best European standards, aiming to minimize investment risk and to maximize reliability and trust. Providing services on global stock markets the Company takes all necessary steps required by Law before entering into cooperation with any counterparty.
The headquarters of WhoTrades Ltd are located at the heart of Limassol's business district – the second largest town in Cyprus, nevertheless the most important tourist and commercial centre and the largest harbor on the island.
The chairman of WhoTrades Ltd is Victor Mikhailovich Remsha.
Victor Remsha was born on October 19, 1970 in the city of Krasnoyarsk.
Victor Remsha entered the world of finance in 1993 as a student of the Bauman Moscow State Technical University. In 1994, he and his partners sought to provide stock market participants with real-time and accurate information on issuers, stock quotes and key market developments. Finance-Analytic (the future Finam holding) began to issue a special daily bulletin “The Investor’s Portfolio”.
By the end of the 1990s Victor Remsha focused on brokerage services. Finance-Analytic obtained a license from the Federal Securities Commission and gained membership in NAUFOR, the Moscow Stock Exchange, MICEX and RTS.
In 2002 Remsha reorganized Finance-Analytic into Finam Investment Holding, which comprises Finance-Analytic Investment Company, Finam News Group, Finance-Analytic Terra Investment Company, Trade Communications and insurance broker Finam Insurance.
Since the beginning of the 2000s, Victor Remsha has made major investments in TMT projects, set up Mamba social media and launched a social network for neophyte traders Ñomon (presently, WhoTrades).
In August 2007 Victor Remsha wrapped up the acquisition of radio station Bolshoye Radio (which was later renamed as Finam FM). In 2011, he bought Bolshoye Gryzlovo, an airfield in Puschino (the Moscow Region).
Victor Remsha has chaired Finam board since March 2008. He was awarded the Wassily Leontiev Nobel prize medal for “Outstanding Achievements in Economics”.
Victor Remsha is married and has four children.