The approval process takes approximately 15 working days (Initial approval – first stage) and 20 working days (final approval – second stage) after all required documentation is fully submitted and meets the standards.
Timeframe:
Capital Requirements:
AED 500,000 (approx. EUR 120,000)
Overview:
The Category 5 license issued by the UAE Securities and Commodities Authority (SCA) is governed by the SCA Rulebook, established under Board of Directors’ Decision No. (13/R.M) of 2021. This Rulebook outlines the regulatory framework for various financial activities, including those under Category 5, which encompasses “Arrangement and Advice” services. These services typically include financial consulting, promotion, and advisory roles related to securities and investment products.
Key aspect of the SCA Cat-5 is that you can promote in UAE and introduce UAE clients to other regulated entities worldwide to receive financial services, provided that the SCA company has performed due diligence on these companies.
Requirements:
- Company to be incorporated in UAE;
- be licensed in accordance with the licensing requirements;
- Have one resident fit & proper director;
- Have one resident fit & proper Head of Compliance;
- Depending on the type of activity additional personnel is required;
- Physical office in UAE.