Pre-Application process

Before an applicant begins the application process, we ask that the individual contacts the Authorisations Team in the first instance to set up a Pre-Application Meeting.

As part of this Meeting, we would require certain information in order to help process applications efficiently and allow us to assess the applicant’s business considerations. The Authorisations Team can facilitate Video/Conference Calls for Pre-Application Meetings. 

In order to request a Pre-Application meeting, please send an email to authorisations@gfsc.gi with the following information in the subject field: ‘Name of Applicant – Pre-Application’ - please note that paper copies of relevant documentation is not needed, unless indicated by the Authorisations team. 

Please note that we accept signed signature copies sent via e-mail and electronic signatures, which must originate from the Applicant’s domain. 

As part of this process, we require the following information ahead of the Pre-Application meeting.

Details for the relevant contact person for the Pre-Application meeting

  • Name, E-Mail, Telephone Number, Address.
  • Available dates for the Pre-Application meeting. Please confirm who will be attending on behalf of the Applicant, and in what capacity.
  • Is the Applicant working towards specific timelines?

 

Business Model

  • Business Plan Overview: activities, products and services the Applicant intends to carry out or offer in or from within Gibraltar. Please also provide the rationale for establishing in Gibraltar and explain why the Applicant wishes to carry out regulated permissions.
  • Is the Applicant currently conducting any other activities? Does the Applicant intend to provide services in other jurisdictions?
  • What type of clients will the Applicant be targeting? (Retail, Experienced, Institutional, etc.)?
  • Which markets will the Applicant be targeting geographically? How many number of clients are expected in the first three years in operation?
  • How the Applicant will be profitable, in terms of summary of costs/revenue per sale, etc. 
  • Details of the expected set-up in Gibraltar.
  • Does the Applicant intend to outsource any of its functions? What due diligence has been performed on outsourced service providers, custodians and/or data to be provided as part of the application?
  • Is the Applicant part of a Group?
  • Key risks the Applicant considers it will face, together with any planned mitigating actions.

 

Controller & Beneficial Ownership

  • Provide an overview of who the Ultimate Beneficial Owners will be, proposed ownership structure, any relevant names (previous names) and country of origin.
  • Corporate Governance & Regulated Individuals:
    • List of names of the proposed Regulated Individuals.
    • Provide a Board and Management Structure Chart.

Once the Authorisations team have received and reviewed the above information, we will endeavour to set up a meeting within 5 working days

The Authorisations team is happy to discuss any of the required information with applicants before they make their application. When an applicant is able to demonstrate how the relevant business considerations will be addressed they will then be in a position to submit their application.

Please note that a successful Pre-Application meeting should not be seen as an indicator of any final decision by the GFSC. The Authorisations team is not able to make business assessments on behalf of applicants nor is it able to provide advice regarding applications of the criteria for licensable activity. The applicants, is at all times, responsible for ensuring they act in accordance with legislative requirements and should the applicant wish to have a position clarified at any stage, we would recommend they seek legal advice.