Licenses are granted by the Financial Conduct Authority (“FCA”) under the provisions of the Financial Services and Markets Act (FSMA) 2000.
Below please find features of the particular license categories in more details:
Feature/Category | TYPE A- UK Investment Firm License covers one or more of the following services: • Reception and transmission of orders in relation to one or more financial instruments | TYPE B- UK Investment Firm License covers one or more of the following services: • Reception and transmission of orders in relation to one or more financial instruments | TYPE C- UK Investment Firm License covers one or more of the following services: • Reception and transmission of orders in relation to one or more financial instruments | Tied Agent- UK Investment Firm License |
Type of company required to be eligible | Ltd company | Ltd company | Ltd company | Physical person or Legal Person |
Corporate taxation | 19% | 19% | 19% | * |
Minimum paid-up statutory capital | 730,000 EUR | 125,000 EUR | 50,000 EUR | Not required |
Main requirements | Physical office, qualified personnel, Compliance Officer/AML Officer, Internal and External Audit, Accounting, Risk Management | Physical office, qualified personnel, Compliance Officer/AML Officer, Internal and External Audit, Accounting, Risk Management | Physical office, qualified personnel, Compliance Officer/AML Officer, Internal and External Audit, Accounting, Risk Management | The Tied Agent should be approved by a UK Investment Firm or from an EEA State |
Timeframe | A completed application is normally decided upon FCA approval within 8-12 months from the date of the final filing | A completed application is normally decided upon FCA approval within 8-12 months from the date of the final filing | A completed application is normally decided upon FCA approval within 8-12 months from the date of the final filing | A completed application is normally decided upon FCA approval within 1-2 months from the date of the final filing |
Government fees | 1,500 GBP* | 1,500 GBP* | 1,500 GBP* | * |
GFSC GLOBAL can offer as well the following services in relation to the licence 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
GFSC Global provides full Post Licensing support:
- AML/ Compliance support, Risk management support, Legal services
- Internal and External audit services
- Capital Adequacy Calculation, ICAAP
- In–house Seminars and Trainings
- Registration of Branches, Rep. Offices worldwide
- Legal opinions
- CRS and FATCA reporting
- DPO & GDPR advisory services
"*" indicates required fields