Admirals Shifts EU Client Servicing to Cyprus, Voluntarily Gives Up Estonian License

Admirals has completed a major overhaul of its European operations, with its long-standing Estonian unit, Admiral Markets AS, giving up its local investment firm license and moving EU client servicing to a Cyprus-based entity.

The Estonian Financial Supervision and Resolution Authority confirmed that the license revocation took effect on 28 April 2026, following a voluntary request submitted earlier this year.

Estonian clients will continue to receive services on a cross-border basis from Admirals Europe Ltd, the group’s Cyprus-registered investment firm, which will now serve as the main EU gateway for Admirals’ investment offerings.

Despite the license revocation, Admirals Group AS will keep its headquarters in Tallinn, where around 60 employees remain based to support global operations.

The changes do not affect clients of other Admirals Group companies, which continue to operate under licenses in the UK, Cyprus, Jordan, Kenya and Seychelles.

The move follows similar streamlining efforts elsewhere. The group’s UAE unit, Admirals MENA Limited, requested the cancellation of its Financial Services Permission with the Financial Services Regulatory Authority, approved on 4 November 2025. Meanwhile, Admirals Group AS has agreed to sell its wholly owned Australian subsidiary to an unrelated party as part of a strategy to focus on higher-growth regions.