FORMS & FEES
This section includes all the information you need in order to fill the forms and submit the Application Forms.
completing the Application Fees Application Forms
submitting the Application
Application Processing Times
the Forms & FAQs
COMPLETING THE APPLICATION FORMS
The Application Form Q02 must be completed based on the Applicant’s knowledge of its proposed business and the Applicant must provide as full and complete information as is reasonably possible. If certain information is unavailable or the Applicant is unsure of any matter, this must be clearly stated in the Applicant’s response to the relevant section. The Applicant is reminded that it is a contravention of the FSR to knowingly or recklessly provide information which is false, misleading or deceptive; or to conceal information where the concealment of such information is likely to mislead or deceive the recipient of the completed application. The success of an application could be affected if the QFC Regulatory Authority’s find that the Applicant has deliberately withheld information or provided false or incomplete facts.
The Applicant may appoint a professional adviser to act on its behalf in any correspondence or discussions with the QFC Regulatory Authority regarding the application. Please note that the Applicant will be deemed to have been a party to any correspondence or ongoing dialogue between the appointed advisers and the QFC Regulatory Authority.
By signing the relevant Application Form, the Director/Partner of the Applicant takes full responsibility for the content of the form, notwithstanding any assistance in the preparation of the form which may have been provided by a professional adviser such as an accountant, lawyer or regulatory adviser.
Questions must be answered fully and in English. Abbreviations should not be used. All financial information must be provided in US$. A statement of the original currency and the exchange rate applied for conversion must also be provided where appropriate. Each section of the Application Form must be completed by individuals with appropriate knowledge and expertise.
Applicants seeking a License to conduct Non-Regulated Activities in or from the QFC are required to pay an application fee of $5,000. This is a flat fee payable without reference to the Applicant’s proposed business activities. Applicants must include payment of $5,000 with their application. No separate application fee will be payable for making an application to the CRO. An annual fee of $5,000 will be payable to the QFCA upon the granting of a Licence (in the initial year the fee is pro-rated to the number of whole months remaining in the calendar year), and on 1 January of every subsequent calendar year for so long as the Applicant remains Licensed.
In summary, the application fees in respect of Authorisation to conduct one or more Regulated Activities is set out in the General Rulebook GENE which is available through the QFC Regulatory Authority’s website at www.qfcra.com Applicants seeking Authorisation to conduct one or more Regulated Activities specified in the left hand column of the Fees Table must pay the highest of the corresponding application fees specified in the right hand column of the Fees Table. Applicants must include payment of the appropriate fee with their application.
It should be noted that the fees are not cumulative and the Applicant must pay only the highest of the corresponding fees relative to the Applicant’s proposed Regulated Activities, e.g. if the application is in respect of Deposit Taking, Dealing in Investments and Advising on Investments, the application fee will be $40,000.
Applicants seeking Approved Individual status for individuals performing Controlled Functions are required to pay an application fee of $500 for each such individual.
These fees relate only to the Applicant’s initial application. No separate application fee will be payable for the applications made to the CRO or the QFCA. An annual fee will be payable to the QFC Regulatory Authority upon the granting of Authorisation (in the initial year the fee is pro-rated to the number of whole months remaining in the calendar year), and on 1 January of every subsequent calendar year for so long as the Applicant remains Authorised. The annual fee will include a $500 fee for each Approved Individual registered as at the 30 September of the previous year.
Applicants may be required to pay a supplementary fee in circumstances where the QFC Regulatory Authority expects to incur substantial additional costs in dealing with an application or conducting ongoing supervision.
Deposit Taking Providing Credit Facilities Carrying out a Contract of Insurance Effecting a Contract of Insurance
Dealing in Investments (as principal)
Dealing in Investments (as agent) Providing Custody Services Managing Investments Advising on Investments Arranging Deals in Investments Arranging Credit Facilities Arranging the Provision of Custody Services Operating a Collective Investment Fund
Effecting a contract of insurance or carrying out a contract of insurance as a QFC captive insurer that is a protected cell company
|$8,000, plus $1,000 for each cell|
Effecting a contract of insurance or carrying out a contract of insurance as a QFC captive insurer that is not a protected cell company
Dealing in investments (as agent), managing investments, arranging deals in investments, advising on investments or assisting in the administration or performance of contracts of insurance, if carried on only for the purpose of insurance mediation business or captive insurance management
Any fees paid, whether for an application for a QFCA Licence, Authorisation by the QFC Regulatory Authority, or in respect of an Approved Individual, are non-refundable, regardless of whether the application is successful or not.
SUBMITTING THE APPLICATION
A hard copy of the completed Application Form, which has been signed by the Applicant’s Directors, should be delivered to:
The QFC Regulatory Authority PO Box 22989, Doha Qatar.
Applicants should retain a copy of the completed Application Form for their own records.
The Applicant is also requested to submit an electronic version of the completed Application Form, i.e. on a CD or by email, when submitting the hard copy version.
Payment of the required application fee must be included with the completed Application Form.
APPLICATION PROCESSING TIMES
Applicants should receive acknowledgement of their completed applications within 5 business days of receipt of the completed forms by the QFC Regulatory Authority.
The QFC Regulatory Authority aims to process all applications for both Licensed and Authorised Firms within 3 months of receipt, provided the application received is complete. Failure to supply information to the QFC Regulatory Authority or the QFCA in a timely manner may increase the time needed to review an application.
Should an Applicant submit an incomplete application and subsequently fail to provide any missing information, or fail to provide any other information requested, the QFC Regulatory Authority or the QFCA reserves the right to deem the application withdrawn.
||Application for Regulated Activities Authorisation|
||Application for Registration as an Approved Auditor|
||Application by an Authorised Firm to Vary the Scope or Withdraw its Authorisation|
||Application for registration of a collective investment scheme under COLL|
||Application for registration of a collective investment scheme under PRIV|
||Application for authorisation for captive insurance business|
||Controlled function application|
||Controlled function withdrawal|
||Application for Waiver or Modification|
||Controller Notice — Authorised Firms |
||Notification of changes in personal details of an approved individual|
||General Submission Form|
||CRO Annual Return|
||Business Returns for Authorised Firms|
||DNFBP Annual AML/CFT Questionnaire|
||Non-Resident MLRO Annual Report|
Data Protection Forms
||Application for a Permit to Process Sensitive Personal Data|
||Application for a Permit to Transfer Personal Data Outside of the QFC|
||Notification of Personal Data Operations|
||Application for a Temporary Permit|