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Supervision of ASP

Supervision of ASP
Supervision of ASP

Apply for Authorisation as an Ancillary Services Provider (ASP)

The Application Process

Supervision of ASP

Fees And Payment

Frequently Asked Questions (FAQ)

Once authorised, you may need to update your licence or firm details. You must notify us and seek prior approval where applicable. You can apply to:

  • ADD OR REMOVE A TYPE OF ANCILLARY SERVICE

If your firm plans to offer additional Ancillary Services, or cease providing one, you must apply to vary your licence. We will assess whether your firm continues to meet the relevant regulatory standards.

  • APPOINT OR REPLACE AN APPROVED INDIVIDUAL (E.G. MLRO OR AUDIT PRINCIPAL)

All Controlled Function roles must be approved by AFSA. If a new individual is proposed for an approved individual role, we will assess whether they meet our Fit and Proper criteria before approval is granted.

Full details of the applicable criteria, supporting documentation, and assessment process can be found in the Guidance on Ancillary Services Applications to the Registrar of Companies.

  • WITHDRAW YOUR LICENCE

If your firm no longer intends to carry out Ancillary Services in or from the AIFC, you must apply to cancel your licence. Before doing so, you must ensure that all outstanding obligations, including reporting and fees, are settled.

You must submit all changes through the AIFC Digital Residency Portal. We may request supporting information and will only approve changes if your firm remains compliant with ongoing regulatory obligations.

For further details, please refer to the Guidance on Ancillary Services Applications to the Registrar of Companies.

 

ONGOING COMPLIANCE AND OBLIGATIONS

Once authorised, your firm must meet ongoing regulatory obligations to maintain its licence and operate within the AIFC.​

These obligations include:

  • Paying annual supervision fee;
  • Submitting required reports within prescribed timelines;
  • Notifying AFSA promptly of any material changes to your business, such as changes in ownership, key personnel, or business activities;
  • Maintaining effective governance, risk management, and compliance systems;
  • Cooperating with AFSA’s supervisory activities and responding promptly to information requests;
  • Complying with reporting obligations under the AIFC Companies Rules and Regulations, including the timely submission of financial statements, annual returns, and updates to corporate records​.

Failure to comply with these obligations may result in regulatory action, including suspension or withdrawal of your licence.​

For detailed information on your ongoing obligations, refer to the Guidance on Ancillary Services Applications to the Registrar of Companies and relevant sections of the AIFC Framework Regulations and AFSA Rules.