About Authorisation

Authorisations Process

Adobe Icon Authorisations Process
Adobe Icon Authorisations Process Flowchart

Who should apply?

The GFSC is responsible, under the Gibraltar Financial Services Commission Act 2007, for considering and determining applications for authorisations, licences, recognitions and registrations wishing to conduct regulated activity under the Supervisory Acts.

If you are carrying on a regulated activity, as a business, in or from Gibraltar, you will need to be licensed by the GFSC. Further information on the types of regulated activities can be found below.

How to apply?

Before you start

As a first step the GFSC welcomes applicants to contact the Authorisations Team to arrange a meeting to discuss the application proposal, business model and type of activity and/or services you wish to undertake. This forms part of the Pre-Application Process.

A meeting provides the opportunity to give applicants any appropriate guidance on the application process, licensing regime and the approach to supervision for the sector most relevant to the type of activity. It also provides an opportunity to meet with the staff responsible for handling your application.

Prior to the meeting it would be beneficial for the applicant to submit a brief outline of its proposal to ensure that we are prepared and can offer you the guidance needed.

The GFSC has a dedicated section setting out requirements for each type of authorisation, licence, recognition or registration. You should familiarise yourself with the content in these sections before preparing and submitting your application.

Licensing criteria

Mind and Management

The GFSC has established a criteria for Mind and Management that applicants must satisfy to be successful in securing and retaining a financial services licence.

Read more about the Mind And Management criteria.

Four-eyes

Additionally, all applications will also need to satisfy the GFSC's criteria regarding Four-eyes.

The GFSC will not issue a licence unless it is satisfied that the applicant meets the criteria.

Read more about the Four-eyes criteria.

 

Fit and Proper

The GFSC will not issue a licence unless it is satisfied that the applicant, including the persons associated with it, are fit and proper to undertake the regulated activity.

Read more about the Fit and Proper criteria.

 

Submitting your application

Ahead of submission please:

  • Read the specific guidance to your proposed activity carefully. Remember that it is advisable to contact the GFSC ahead of the application and hold a pre-meeting;
  • Complete the correct forms and answer all relevant questions;
  • Finalise your application. The GFSC does not accept draft applications;
  • Provide us with any other information you think we should be aware of. Whilst we provide comprehensive guidance, you are encouraged to submit any information that you believe the GFSC should take into consideration;
  • Be open and honest with us and if you are unsure, please disclose it to us. This is particularly important as if the GFSC finds that an applicant has deliberately withheld information or provided false or incomplete information this could seriously impact the GFSC's decision; and
  • Ensure you submit the correct application fee.

Please send your completed application to the Authorisations Team.

  • The Authorisations Team
  • Gibraltar Financial Services Commission
  • PO Box 940
  • Suite 3, Ground Floor
  • Atlantic Suites
  • Europort Avenue
  • Gibraltar

The GFSC currently cannot accept electronically signed documents. We do encourage and welcome scanned copies of documents instead. These can be sent to the Authorisations Team.

What happens next?

Once your application has been submitted an authorisations officer will be assigned to your application. You will have the opportunity to work closely with the authorisations officer to ensure that he/she understands your business. We will confirm your authorisations officer at the same time we confirm receipt of your application.

If your application is complete, we will assess the application, including the risks the proposed activity presents to the GFSC's objectives. Particular focus will be to ensure that consumers are protected along with the reputation of Gibraltar. We may contact you to obtain additional information which will help us consider your application.

Adobe Icon Authorisations Process Flowchart

How long will an application take?

The GFSC will process and consider applications as swiftly as possible. The time taken to process the application will be dependent on the quality of the application pack. To ensure your application is processed in a timely manner, it is important you submit all the necessary forms and supporting documentation as accurately as possible. The GFSC expects applicants to have an understanding of the requirements for authorisation and the licence/authorisation that they wish to apply for.

Where to get help with an application

If you have a query relating to an application we have a dedicated FAQ section for each type of authorisation. It is worth checking these before contacting the Authorisations Team.

If you need guidance determining whether your activity requires authorisation, or which individuals require approval, you can also contact our Authorisations Team.

The GFSC does not provide, or purport to provide, legal advice, therefore you should consider early on whether, given the nature of the proposed business and your own experience, it is appropriate to seek legal and/or professional advice.