The Application Process

Firms seeking authorisation to provide Ancillary Services in or from the AIFC must apply through the AIFC Digital Residency Portal.

We assess applications carefully to ensure that only firms meeting the required standards are authorised to provide Ancillary Services in or from the AIFC.

The application process includes several stages, each designed to verify your firm’s preparedness, governance, and compliance capabilities.

1. PREPARE AND SUBMIT YOUR APPLICATION

The application may be submitted electronically via the AIFC Digital Residency Portal, together with all required supporting documents in the format prescribed by AFSA.

Submissions must be complete, final, and internally approved. Draft documents or incomplete packages will not be accepted for review.

You must also submit confirmation of payment of the application fee, as set out in Schedule 3 of the AIFC Fees Rules, at the time of application.

2. INITIAL ASSESSMENT AND CASE ALLOCATION

Once your application is received, it will be allocated to a Case Officer.

Your Case Officer will:

• review the completeness and quality of your submission;
• assess whether your firm meets the minimum requirements for authorisation;
• request clarifications or additional documents if necessary.

You must respond to any information requests promptly and fully. Delays or failure to respond may result in your application being withdrawn or refused.

3. IN-PRINCIPLE APPROVAL (IPA)

If your application meets AFSA’s requirements, you will be issued an In-Principle Approval (IPA) letter. This confirms that your firm has met the initial assessment criteria and sets out the remaining conditions to be fulfilled before your licence can be granted.

Please note: the IPA is not a licence. You may not begin providing Ancillary Services until all conditions are met and the licence is formally granted.

4. AUTHORISATION AND ISSUANCE OF LICENCE

Once AFSA confirms that all IPA conditions have been fulfilled, your firm will be granted an Ancillary Services Provider licence.

You will receive a formal authorisation letter and your firm will be added to the AFSA Public Register of licensed firms.

From the date of authorisation, your firm becomes subject to AFSA’s ongoing supervision and reporting obligations.

EXPECTED PROCESSING TIME

TOP 3 TIPS TO AVOID DELAYS

Following these practices will help ensure your application is processed efficiently and without unnecessary delays.

• SUBMIT A COMPLETE AND CONSISTENT APPLICATION.

Ensure all required forms and documents are final, signed where applicable, and internally consistent. You should ensure that all key roles are clearly assigned and that your submission includes fully developed policies, governance arrangements, and supporting documentation.

• BE AS CLEAR AS POSSIBLE

Your business model must accurately reflect the services you intend to provide in or from the AIFC. Avoid using generic descriptions — explain how your firm will operate, who your clients will be, and how the services will be delivered.

If you are applying for multiple Ancillary Services or if key staff will operate remotely, explain clearly how functions and controls will be managed in practice.

• TAILOR YOUR DOCUMENTATION TO YOUR ACTUAL BUSINESS

All policies and procedures must be tailored to your business. Documents copied from legislation, using generic templates, or lacking clear application to your firm’s activities will not be accepted.

We expect to see how your firm will apply these policies in practice.