An applicant for the license must be an Kenya company, and once the company is in place, we will apply to the Capital Markets Authority (CMA) for the IF license to provide regulated products and services.
Below please find features of this particular license category in more detail:
Feature/Category | Investment Firm License |
Type of company required to be eligible | Limited Liability Company by Shares |
Corporate Taxation | 30% |
Minimum paid-up statutory capital | 300,000 USD -500,000 USD depending on investment services to be provided. |
Directors | Local Directors (Minimum 3) – at least 1 should be physical person, 1 independent non-executive and 2 Executive Directors |
Shareholders | Minimum 3 shareholders and Beneficial Owners |
Main requirements | Local Physical office Compliance /MLRO Professional Indemnity Insurance Policy Local legal Counsel Local Dealer with at least 3 years of experience Local External Audit, Accounting, Annual Audited accounts & filing, qualified personnel |
Timeframe | A complete license application is normally decided upon CMA approval within 6 months from the date of filing |
Government fees | License application fees: USD 125 License fees: USD 1000 |
GFSC GLOBAL can offer as well the following services in relation to the license application, which include:
1) Opening of operational and clients bank accounts (worldwide).
2) Assistance with recruitment of personnel (e.g. Executive Director(s), Independent Non-Executive Director(s), other required qualified personnel)
3) Provide outsourced services, such as Accounting, Bookkeeping, Internal Audit, External Audit, Capital Adequacy calculation
4) Provide outsourced Compliance & AML Support services
5) Provide outsourced Risk Management services
6) Assistance with finding local premises
7) Assistance with Trademark & Brand Name registration
8) Provide in-house trainings/seminars
9) Provide Legal Opinions
10) Provide DPO & GDPR Advisory services
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