Forex industry

Brokerage License in DIFC, Dubai

UAE has become a home of many successful forex trading companies and we can help to help you to start your forex business here and get international exposure. DIFC is a leading international financial hub in the Middle East, Africa and South Asia (MEASA) region providing ample opportunities to start your forex business. DIFC has 0% rate taxation policy for business, international legal system based on the English Common Law and exemption from the local UAE Laws.

 

Capabilities

Brokerage License from the DIFC allows companies to trade forex, commodities, and derivatives. DIFC Brokerage License allows for ‘Dealing in Investments as Agent’ and ‘Dealing in Investments as Principal’ (matched Principal basis).

 

Requirements

  1. Capital
  • The minimum Base Capital is 500 000 USD.
  • There is concept of Expense-based capital, calculated as a percentage of the annual projected expenditure of the firm.
  • Risk Based Capital: Calculated based on the various risks that the firm is exposed to.
  1. Clients
  • Clients are categorized as professional clients and Retail clients.
  • To services retail clients license will need additional endorsements
  • The DFSA requirements to service clients includes reporting and compliance requirements.

Stages of the process

  1. Initial Meeting
  2. RSBP submission and Review
  3. Formal Application to DFSA
  4. Review of application
  5. In Principle Approvals
  6. Legal Structure, office space and bank account
  7. Financial Service Permission

Overall timeline: 8+ months

 

Fit and Proper Test for Authorisations

  • Operational, financial, and regulatory track record of the firm and its shareholders
  • Fitness and Propriety of senior management and key appointment holders
  • Resources, systems, and controls of the firm to ensure proper governance and compliance with all applicable rules and regulations

 

Mandatory Appointments

  • CEO
  • Finance officer*
  • Compliance & MLRO*
  • Risk Officer*

* These positions can be outsourced to us under limited circumstances.

We are ready to collaborate in bringing comprehensive legal solutions to you and your clients.

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