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Financial activity licenses

This service enables financial services companies to obtain a license from the CMA to engage in an activity or a range of financial activities licensed by the CMA

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Service Process

Conditions & Requirements

Initial approval: Financial eligibility

Experience and competence, Honesty, Integrity and Compliance

There is no refusal or penalty for cancelling the license

Availability of Feasibility study, action plan and Adequate resources

The suitability of partners, board members and senior management - excluding banks and branches of foreign banks.

Licensing phase: Investment Capital and Financial Guarantee

To meet the requirements of capital market institutions (if any)

The availability of: 1. The required legal form

A sufficient number of accredited posts

FAQ’s

Service completion duration

Application (Processing) Time
1 Hours

Service Duration
30 Days

Service channels
  1. SCA WEBSITE
Service Classfication

G2B

Service Code

370-005-046-000

Required Documents

  1. Initial approval: The company's credit report issued by Etihad Credit Bureau

  2. Copy of the company's previous experience manual and its relevance to the activity to be licensed , Ability to engage in financial activity and Risk management effectively

  3. Copy of the feasibility study and an action plan, provided that it is factual and logic to engage in the financial activity,

  4. UAE identity card (for citizens and residents of the state) for each partner and manager

  5. The Biography and Passport copy of each partner and manager

  6. Valid) Criminal Record Check Certificate for each partner and manager

  7. University qualification or specialized professional certifications for each manager

  8. Copy of the credit report issued by Etihad Credit Bureau for each partner and manager

  9. A letter from the competent courts stating that the company has no judgment or decision issued by the courts or prosecutors linked to dishonesty, fraud or fraud

  10. providing proof that the financial allocation must cover all expected expenses and commitments for the first year and include a risk reserve to address potential risks linked to the financial activity

  11. Providing Evidence explaining that there is no rejection or cancellation of accreditation from other regulators or local or foreign government agencies

  12. licensing: The Memorandum and Articles of Association (if the applicant is established within the state) and copy of License of the Ministry of Economy (for branches of foreign companies).

  13. Ownership contract or Lease of the headquarters where the activity will take place

  14. Copy of the financial guarantee (only in cases required by the guarantee

  15. A certificate of registration of the company with the Authority (for public joint-stock companies) or a registration certificate from the Ministry of Economy (for private joint-stock companies).

  16. The Commercial License

  17. Proof of capital deposit for new companies, or financial statements for the last three years or since incorporation, whichever is shorter, to verify the company’s financial standing

  18. Completion of the accreditation of employees

  19. proof of Membership requirements are met with capital market institutions if the financial activity requires membership of any of them.

  20. A license issued to the parent company by the regulator in the country of origin to engage in the required activity if the license applicant is a branch of a foreign company

  21. A list of other countries where the licensee (or its parent company/sister or subsidiary company) is engaged in the activity.

  22. A list of companies that form close links with the licensee or partners

  23. A statement issued by The legal advisor of the license applicant explains any legal responsibilities or judicial decisions relating to the applicant

  24. A record of the applicant's history, including any license denials by stock markets, regulators, or authorities, especially for the applicant or related companies (subsidiaries, sister, or affiliates)

  25. Disclosure of any judicial, disciplinary, or criminal actions against the applicant or related companies by regulatory bodies or markets

For assistance, get in touch through

Call: 800 SCAUAE (722823)

Working Hours

  • Monday-Thursday: 7:30 AM - 3:30 PM
  • Friday: 7:30 AM - 12:00 PM
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