Dealing in Investments as Principal

Dealing in Investments as Principal

Dealing in Investments as Principal Dealing in Investments as Agent  Managing Investments Managing a Collective Investment Scheme Providing Custody Arranging Custody Providing Trust Services Providing Fund Administration Advising on Investments Arranging Deals in Investments Managing a Restricted Profit Sharing Investment Account Islamic Banking Business Providing Islamic Financing Insurance Intermediation Operating a Representative Office Accepting Deposits Providing Credit Advising on a Credit Facility Arranging a Credit Facility Providing Money Services Effecting Contracts of Insurance Carrying on Contracts of Insurance Insurance Management Takaful Business Opening and Operating Bank Accounts Operating a Multilateral Trading Facility Operating an Organised Trading Facility Operating a Digital Asset Trading Facility

Dealing in Investments as Principal

Dealing in Investments as Principal means buying, selling, subscribing for or underwriting any Investment as principal. 

 

General requirements 

 

Requirements  

Minimum threshold 

Authorisation Fee (paid once) 

10 000 USD 

*According to AIFC Fees Rules 5.1.1., the application may not be regarded by the AFSA as submitted, and therefore ready to be reviewed, until the fee has been paid in full. 

 Therefore, when the application is ready for submission, please send us a completed request for invoice (please follow the link to download the form) and after that we will issue the invoice for payment. If the payment to be made by a natural person, then please provide a copy of his/her ID as well. 

In accordance with the AIFC Fees Rules 1.1-1. an applicant seeking to conduct Regulated Activities in relation to Digital Assets, must pay to the AFSA an additional application fee in the amount of 2 000 USD. 

Registration Fee (paid once)

 

Registration fee is 300 USD (paid once) if you apply via the self-service portal and 500 USD (paid once) if you apply on paper via [email protected]. 

*AIFC Fees Rules

Supervision Fee (annually) 

 

 

8 000 USD except as a matched principal; 

5 000 USD as a matched principal. 

*AIFC Fees Rules 

Prudential requirement  

The Minimum Capital Requirement of Dealing in Investments as Principal Firms is equal to the sum of: 

  • its Base Capital Requirement;  
  • its Credit Risk Capital Requirement;  
  • its Market Risk Capital Requirement; and  
  • its Operational Risk Capital Requirement. 

 

The Base Capital Requirement of a Dealing in Investments as Principal Firm shall be in the amount of: 

  • 500 000 USD except as a matched principal; 
  • 50 000 USD as a matched principal. 

*AIFC Prudential Rules for Investment Firms 3.3 

Liquid Assets Requirement  

The firm must have, at all times, Liquid Assets whose value is at least equal to 25% of the firm’s Annual Operating Expenditure. 

*AIFC Prudential Rules for Investment Firms 4.2 

Appointment of Internal and External Auditor  

Required 

*AIFC General Rules 5.5.1. 

*AIFC Financial Services Framework Regulations 109. 

Organisational structure   
  • Appointment of a Board of Directors 
  • Appointment of approved and designated individuals (SEO, Finance Officer, Compliance Officer, MLRO and a deputy MLRO) 
  • Appointment of committees within the company (Risk Committee, Investment Committee, Compliance Committee etc.) 

Policies and Procedures 

 

 

 

 

 

 

*By clicking here you can find guides to the minimum requirements for some policies and procedures. 

 

Application package 

Supplement Dealing and Advisory
Application Approved Individual status
Application Designated Individual status
Financial projections template
Request for invoice
Fit and Proper Questionnaire for Controllers
Application RA (standard)_A08
Supplement DASP_A01

 

Supporting documents 

  • Incorporation certificate of Parent/head office (if applicable) 
  • Board minutes approving establishment of the AIFC entity 
  • Résumés/CVs for Controllers that are natural persons 
  • Résumés/CVs for the members of the Board of Directors (both executive and non-executive) as applicable 
  • Last audited accounts (if applicable) 
  • Last audited Group accounts (if applicable) 
  • A shareholding chart that depicts how the applicant is related to each of its shareholders (including natural persons) and to its related entities, Subsidiaries, and head office/Branch, as applicable 
  • An organisation chart depicting the key appointments and reporting lines and, where applicable, the reporting lines to the Group or head office 
  • If the applicant is a start-up evidence of source of funds 
  • Evidence, such as non-binding letters of engagement, to support the applicant’s revenue-stream estimations in the financial projections 
  • If the applicant is a start-up, a copy of the Shareholders’ agreement 
  • Copies of any Board and management committees’ terms of reference 
  • A copy of each Controller’s Kazakhstani ID card (if a Kazakhstani citizen or resident) 
  • A copy of each Controller’s passport (for non-Kazakhstani citizens) 
  • If your Parent is regulated in another jurisdiction provide a copy of its regulatory licence. It must include any restrictions or conditions 
  • A copy of the applicant’s interbranch accounting policy (if applicable) 
  • Standard Client Agreement 
  • List of above-mentioned policies and procedures  

*Under AIFC Financial Services Framework Regulations 31 (5), the AFSA may require the applicant to provide additional information reasonably required for the AFSA to be able to decide the application.