tips for applicants

  1. Spend time preparing your application. Read the GEN Module of the DFSA Rulebook, the Regulatory Policy and Process Sourcebook, as well as the guidance notes to the application forms before you start your application.
  2. Carefully identify which of your proposed business activities fall within the definition of Financial Services. Check whether there are any exemptions or prohibitions which may impact your application.
  3. If you are a start-up firm, review our policy statement on start-ups. This can be found in the Regulatory Policy and Process Sourcebook. We do not accept applications for start-up banks.
  4. Check you are submitting the most-up-to date version of our application form(s) and that you have used the right forms for the business activities you are proposing. Ensure your application specifies clearly the Financial Services you intend to carry out.
  5. Be as comprehensive as possible in providing the information required.  Make sure your forms are signed and that you have included the required attachments.
  6. Review your application before submission, particularly when using consultants or legal advisers. You are the one who knows your business best and you are responsible for all information contained in the application.
  7. Provide one hard copy and one soft copy of your application. The soft copy should be stored on a CD or memory stick. Please do not send e-mail copies.
  8. Ensure you have paid the correct application fee. Details of the fee schedule are set out in the Fees module of the DFSA Rulebook. We will only commence work on your application when payment and the original application form(s) have been received.
  9. Nominate a contact person within your firm to be responsible for managing the application process and to assist the DFSA with any enquiries.
  10. Initiate the Registrar of Companies process at the same time as lodging your application with the DFSA. This will save you time at the end of the process.