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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Laws
Rulebook Modules
Fees Module (FER) [VER20/02-19]
Sourcebook Modules
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DFSA Codes of Practice
Amendments to Legislation
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  • FER 2.1 Application for a Licence

    • FER 2.1.1

      (1) An applicant applying for a LicenceG authorising it to carry on one or more Financial ServicesG specified in the left hand column of the table in (2) must pay to the DFSAG :
      (a) the highest of the corresponding fees in the right hand column of that table; plus
      (b) the fee in (3) if any of the specified factors apply.
      (2) This is the table referred to in (1):
      Accepting DepositsG or Providing CreditG . $70,000
      Dealing in Investments as PrincipalG (except as a matched principal). $40,000
      Effecting Contracts of InsuranceG or Carrying Out Contracts of InsuranceG (except as a Captive InsurerG , as a PCCG , or as an ISPVG ). $40,000
      Managing a Collective Investment FundG if any Fund to be managed is not a Qualified Investor FundG or an Investment CompanyG managed by its Corporate DirectorG . $10,000
      Managing a Collective Investment FundG if the Funds to be managed will only be Qualified Investor FundsG . $5,000
      Managing a Collective Investment FundG if it is an Investment CompanyG managed by its Corporate DirectorG . $5,000
      Dealing in InvestmentsG as a matched principal. $25,000
      Dealing in Investments as AgentG . $25,000
      Managing AssetsG . $25,000
      Providing CustodyG . $25,000
      Managing a Profit Sharing Investment AccountG . $25,000
      Providing Trust ServicesG (if it acts as trustee of one or more express trusts). $25,000
      Acting as the TrusteeG of a FundG . $25,000
      Arranging Deals in InvestmentsG . $15,000
      Advising on Financial ProductsG . $15,000
      Arranging CustodyG . $15,000
      Insurance IntermediationG . $15,000
      Insurance ManagementG . $15,000
      Providing Trust ServicesG (if it does not act as trustee of any express trust). $15,000
      Operating a Credit Rating AgencyG . $10,000
      Effecting Contracts of InsuranceG or Carrying Out Contracts of InsuranceG as a Captive InsurerG or as an ISPVG . $5,500
      Effecting Contracts of InsuranceG or Carrying Out Contracts of InsuranceG as a PCCG :  
         (a) for the core; and $8,000
         (b) for each cell $1,000
      Providing Fund AdministrationG . $15,000
      Arranging Credit and Advising on CreditG $15,000
      Operating a Crowdfunding Platform.G $5,000
      (3) An additional amount equal to 100% of the fee specified under (2) is payable if any one or more of the following factors apply:<
      (a) the applicant has a corporate structure with:
      (i) multiple levels (including the applicant's level); or
      (ii) Group members incorporated in two or more jurisdictions (excluding the DIFC);
      (b) the applicant has, or proposes to establish, a Holding Company in the DIFC;
      (c) the applicant is from a jurisdiction, or intends to carry on business from the DIFC in a jurisdiction, where there is no bilateral memorandum of understanding between the DFSA and the relevant Financial Services Regulator in that jurisdiction;
      (d) the DFSA will act as the consolidated prudential supervisor of the applicant's Financial Group; or
      (e) the DFSA will act as the lead supervisor of part of the applicant's Group.

      Derived from DFSA RM52/2007 (Made 1st December 2007). [VER1/12-07]
      [Amended] DFSA RM67/2009 (Made 25th November 2009). [VER3/11-09]
      [Amended] DFSA RM72/2010 (Made 11th July 2010) [VER4/07-10]
      [Amended] DFSA RM100/2012 (Made 24th July 2012) [VER6/07-12]
      [Amended] DFSA RM145/2014 (Made 1st January 2015) [VER9/01-15]
      [Amended] DFSA RM152/2015 (Made 10th June 2015). [VER10/06-15]
      [Amended] DSFA RM190/2016 (Made 7th December 2016). [VER13/02-17]
      [Amended] DSFA RM204/2017 (Made 14th June 2017). [VER15/08-17]
      [Amended] DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]
      [Amended] DFSA RM214/2018 (Made 22nd February 2018). [VER17/04-18]
      [Amended] DFSA RM228/2018 (Made 6th June 2018). [VER18/08-18]
      [Amended] DFSA RM222/2018 (Made 22nd February 2018). [VER19/12-18]

    • FER 2.1.2

      (1) An applicant applying for a LicenceG authorising it to carry on one or more of the Financial Services of Operating an ExchangeG and Operating a Clearing HouseG must pay to the DFSAG :
      (a) for Operating an ExchangeG an application fee of $150,000;
      (b) for Operating a Clearing HouseG , an application fee of $150,000; and
      (c) for Operating an ExchangeG and Operating a Clearing HouseG , an application fee of $300,000.
      (2) An applicant referred to in (1) applying for an endorsement to carry on the Financial Service of Operating an Alternative Trading SystemG must pay to the DFSAG an additional application fee of $65,000.
      Derived from DFSA RM52/2007 (Made 1st December 2007). [VER1/12-07]
      [Amended] DFSA RM152/2015 (Made 10th June 2015). [VER10/06-15]
      [Amended] DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

    • FER 2.1.3

      An applicant under FER Rule 2.1.2(a) or (c) seeking an endorsement to its LicenceG authorising it to maintain an Official List of SecuritiesG must pay to the DFSAG an additional application fee of $150,000.

      Derived from DFSA RM52/2007 (Made 1st December 2007). [VER1/12-07]
      [Amended] DFSA RM152/2015 (Made 10th June 2015). [VER10/06-15]

    • FER 2.1.4

      An applicant applying for a LicenceG authorising it to carry on the Financial ServiceG of Operating a Representative OfficeG must pay to the DFSAG an application fee of $4,000.

      [Added] DFSA RM67/2009 (Made 25th November 2009). [VER3/11-09]
      [Amended] DFSA RM145/2014 (Made 1st January 2015). [VER9/01-15]

    • FER 2.1.5

      An applicant for a LicenceG applying for an authorisation, or for an endorsement, to carry on the Financial Service of Operating an Alternative Trading SystemG must pay to the DFSAG an additional application fee of $65,000.

      [Added] DFSA RM145/2014 (Made 1st January 2015). [VER9/01-15]
      [Amended] DFSA RM152/2015 (Made 10th June 2015). [VER10/06-15]
      [Amended] DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

    • FER 2.1.6

      An applicant for a LicenceG must pay to the DFSAG the following additional fee for an application for the following endorsements:

      (a) to act as a Trade RepositoryG , $15,000;
      (b) to carry on a Financial ServiceG with or for a Retail ClientG , $20,000.
      Derived from DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

      • FER 2.1.6 Guidance

        Apart from the application fees specified for particular endorsements in Rules 2.1.2, 2.1.3, 2.1.5 and 2.1.6, fees are not payable for applications for other endorsements if made at the same time as an initial application for a LicenceG . However, if an application for an endorsement is made after a LicenceG has been granted, a fee will be payable – see for example Rule 2.2.5.

        Derived from DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]