Licenses are granted Regulated by Securities & Commodities Authority in Abu Dhabi under Federal Law of 2000.
CAT1 Dealing in Securities, including categories:
– Trading and clearing broker
– Global markets trading broker
– Unregulated derivatives and spot forex trading broker
– Trading broker
– Securities dealer
Below please find features of the particular license category in more details:
Feature/Category | Dealing in Securities License (CAT1) |
Type of company required to be eligible | Mainland Dubai, DIFC, ADGM |
Minimum paid-up statutory capital | AED 30 Million |
Corporate Taxation | 9% |
Main requirements | • min 2 local directors (fit and proper) • local Compliance • local office • External Audit • Risk Management |
Timeframe | As regards the timeframe for obtaining the license, a completed application is normally decided upon SCA approval within approximately 6 months from the date of the final filing. |
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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