Applications for licensing under the Act should be submitted on the appropriate form. The following additional information should form part of all applications:
Formation documents: A certified copy of the Applicant’s Memorandum of Association, Bye-laws and Certificate of Incorporation. Partnerships should submit a certified copy of the Partnership Agreement.
Client Agreements: Copies of any standard corporate service or management agreements, and standard fee agreements that the Applicant uses/intends to use.
Questionnaires: CSP Form 2 (Appendix II - Questionnaire for Shareholder Controllers) completed by all shareholder controllers of the company together with CSP Form 3 (Appendix III - Questionnaire for Senior Executives, Controllers and Directors) completed by all individual controllers and officers of the Company.
Business Plan: A statement setting out the nature and scale of the corporate service provider business which is to be carried out or is being carried out by the Applicant, and particulars of the arrangement(s) proposed for the management of that business. (See Appendix IV for Business Plan requirements).
Group Structure: Applicants forming part of wider groups must provide an up-to-date chart giving full details of the group structure.
Fees: A cheque or online payment representing the appropriate application fee. (See Fees & Penalties section on the BMA website for more details).
Policies and Procedures: The Applicant should submit policies and procedures which, at a minimum, should include:
Anti-Money Laundering/Anti- Terrorist Financing;
International Sanctions Compliance;
Disaster Recovery and Business Continuity Plan;
Internal Systems and Controls for day-to-day operations; and
Insurance: The Applicant should submit evidence of insurance coverage as required in Schedule 1,Section 3(6) of the Act.
Appendix V - Certificate of Compliance - 10 October 2022
is subject to these policies.