Investment Management Companies (Asset Managers)

Requirements for asset management licence

1. Memorandum and articles of association.
2. Certificate of incorporation
3. Capital Adequacy requirements
   • Capital adequacy requirement of net assets of USD$500 000
   • The applicant must attach an auditor’s certificate confirming the current capital
   • The Applicant must also demonstrate how the firm will fund business in the first year of operations.
   • Applicant should submit a statement of the unaudited accounts for the period of accounting year ending not earlier than six months prior to the date of application.
   • If applicable applicant (financial services) should also submit audited annual accounts for the preceding two years.
4. Proof of payment of fees -$10 000 for initial applications and $3000 for renewal of applications.
5. Professional indemnity cover/insurance cover.
6. Personnel in the company should submit certified copies of the following:
   • Birth certificates
   • National Identity card
   • 2 passport size colour photos
   • Detailed CVs
   • Police clearance certificate
   • Academic and professional certificates-these include “O” and “A” level certificates, diploma/ degree certificates and transcripts