Skip Navigation LinksBMA > CSP > Licensing

 ***DEADLINE TO SUBMIT APPLICATIONS FOR A CSP LICENCE IS 1 OCTOBER 2016***

 

 LICENSING

 

​ 

The Act provides for the issue of two types of licence:
 
An unlimited licence, under which a person shall be licensed to provide any or all corporate services under the definition of corporate service provider business.
 
A limited licence, under which a person shall be licensed to provide any or all corporate services under the definition of corporate service provider business, excluding the corporate services under sections 2(2)(a) and2(2)(c)(vii).
 

Minimum Criteria for Licensing

Applicants must meet the minimum criteria as set out in Schedule 1 to the Act. The minimum criteria include the following:
  • Controllers and officers to be fit and proper persons;
  • Corporate Governance;
  • Business must be conducted in a prudent manner;
  • Integrity and skill; and
  • Reputation of Bermuda.
 
The position of the licensed undertaking within the structure of any group to which it belongs or its links with any related companies shall be such that it will not obstruct the conduct of effective consolidated supervision.