Before we can register a firm, we need to be satisfied that the applicant is able to meet certain requirements including:
• Letter of Intent: At the time of applying, an applicant must be able to demonstrate that it is already providing services to an Authorised Firm or Authorised Market Institution from outside the DIFC or that there is a strong likelihood that its proposed services will be used by an Authorised Firm or Authorised Market Institution. The likelihood of attracting clients is best demonstrated by a letter of intent from a prospective client which states that it is the intention of the proposed client to retain the services of the applicant or that it would be prepared to appoint the applicant to a tender panel for the provision of such Ancillary Services.
• Anti-Money Laundering Policy and Procedures: An applicant must establish and maintain effective anti-money laundering policies, procedures, systems and controls designed to prevent opportunities for money laundering in relation to the applicant and its activities.
• Anti-Money Laundering Officer: An applicant must nominate one person as the Anti-Money Laundering Officer. This person must be an individual who is ordinarily resident in the United Arab Emirates.
• Ruler’s Court Licence: An applicant intending to provide Legal Services must obtain a Dubai Ruler’s Court licence before making an application.