Providing Credit Rating Services
Providing Credit Rating Services
Providing Credit Rating Services
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
Providing Credit Rating Services
Providing Credit Rating Services is related to analysis or evaluation of information carried on with a view to issuing or reviewing a Credit Rating, and issuing or reviewing a Credit Rating.
General requirements
| Requirements | Minimum threshold |
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Authorisation Fee (paid once)
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2 000 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.
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| 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].
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| Supervision Fee (annually) |
1 000 USD *AIFC Fees Rules 6.1 and 6.1-1
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| Prudential requirement |
Not applicable
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| Appointment of Internal and External Auditor |
Required *AIFC Financial Services Framework Regulations 109.
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| Organisational structure |
Appointment of Senior Executive Officer and Compliance Officer
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| Policies and Procedures |
· Compliance Manual · Written procedures and methodologies for issuing credit opinions · Written procedures and methodologies for ensuring confidentiality of information · Written procedures and methodologies for independence and conflicts of interest
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Application package
- Application for approved individual status
- Application form CRA
- Request for Invoice
- Fit and Proper Questionnaire for Controllers
Supporting documents
- Incorporation certificate of Parent/head office (if applicable)
- A soft copy of passport (with a machine-readable zone) and CV for each of the Controller(s) that is natural person
- Fit and Proper Questionnaire for Controllers (if applicable)
- Approved Individual status forms for each individual performing a Controlled Function: Senior Executive Officer and Compliance Officer
- Last audited accounts (if applicable)
- Last audited of Parent/head Company (if applicable)
- If your Parent is regulated in another jurisdiction provide a copy of its regulatory licence. It must include any restrictions or conditions
- A shareholding chart up to Ultimate Beneficial Owners 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 Parent/head Company or Group
- Copy of passport for the members of the proposed Board of Directors
- If the applicant is a Branch, provide a written undertaking from the head office on the immediate fulfillment of obligations related to the activities of its Branch operating in the AIFC, in case of non-fulfillment and/or improper fulfillment by the Branch
- Résumés/CVs of proposed staff members