| Business Plan |
Detailed business objectives, financial projections, and crypto activities |
Business objectives, scope, financials, and operational details |
Detailed business plan with market analysis, projections |
Strategic business plan outlining scope, services, and risk management |
| Corporate Structure |
Ownership structure, shareholder details, and board members |
Detailed ownership and corporate governance |
Full disclosure of ownership structure, key personnel, and board |
Detailed shareholder and ownership structure |
| AML/KYC Policies |
AML/KYC policies, onboarding, monitoring, and reporting |
Comprehensive AML/KYC policies and controls |
Robust AML/KYC frameworks with client due diligence procedures |
AML and KYC compliance aligned with UAE regulations |
| Compliance Policies |
Policies for regulatory adherence, data security, and operational integrity |
Compliance policy detailing internal and external controls |
Compliance management plan, including a designated compliance officer |
Detailed compliance policies, controls, and processes |
| Cybersecurity Framework |
Security measures, data protection, and recovery plans |
Cybersecurity policy for data protection, backup, and incident response |
Cybersecurity protocols for data encryption, access control, and incident response |
Defined cybersecurity measures for data security and risk management |
| Financial Statements |
Audited financials or capital adequacy proofs |
Proof of financial stability through audited statements |
Audited financials or financial forecasts for new businesses |
Financial statements or proof of sufficient capital |
| Background Checks for Key Personnel |
Background checks and qualifications for directors and officers |
Background checks, experience, and qualifications for key personnel |
Detailed background checks on management and board members |
Background checks and qualifications verification for shareholders and key roles |
| Risk Management Framework |
Risk management plan, addressing specific crypto-related risks |
Risk assessment and mitigation policies |
Documented risk management strategies for asset protection |
Detailed risk management framework for market stability and security |
| Application Form |
Completed VARA application specifying license type and crypto activities |
Completed DFSA application, specifying type of services and operations |
Completed FSRA application with a detailed scope of operations |
SCA application outlining activities, licensing needs, and regulatory compliance |
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