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CRA-1.2.4

Unless otherwise directed by the CBB, the following documents must be provided in support of the application for license:

(a) A duly completed Form 2 (Application for Authorisation of Shareholders) for each Shareholder of the proposed licensee;
(b) A duly completed Form 3 (Application for Approved Person status), for each individual proposed to undertake a controlled function (as defined in Rule CRA-1.7.2) in the proposed licensee;
(c) A comprehensive business plan for the application, addressing the matters described in Rule CRA-1.2.6;
(d) For overseas companies, a copy of the company's current commercial registration, license from competent authority and/or equivalent documentation;
(e) Where the applicant is an existing Bahraini company, a copy of the applicant's commercial registration certificate;
(f) A certified copy of a Board resolution of the applicant, confirming its decision to seek a CBB crypto-asset service license;
(g) In the case of applicants that are part of a group, a letter of non-objection to the proposed license application from the applicant's lead supervisor, together with confirmation that the group is in good regulatory standing and is in compliance with applicable supervisory requirements, including those relating to capital requirements;
(h) In the case of branch applicants, a letter of non-objection to the proposed license application from the applicant's home supervisor, together with confirmation that the applicant is in good regulatory standing and the company concerned is in compliance with applicable supervisory requirements, including those relating to capital;
(i) In the case of branch applicants, copies of the audited financial statements of the applicant (head office) for the three years immediately prior to the date of application;
(j) In the case of applicants that are part of a group, copies of the audited financial statements of the applicant's group, for the three years immediately prior to the date of application;
(k) In the case of applicants not falling under either (i) or (j) above, copies of the audited financial statements of the applicant's substantial shareholder (where they are a legal person), for the three years immediately prior to the date of application;
(l) A copy of the applicant's memorandum and articles of association (in draft form for applicants creating a new company); and
(m) Details of all banking arrangements.
Added: April 2019