RE:Dubai 3C license TIMELINE AND PROCEDURE • Introduction to the Regulator; • Draft of Regulatory Business Plan (RBP) (Application Forms, Business flow processes & charts); • Financial model preparation for 3 years; • Submission of RBP draft to Regulator; In 15 -22 Days • Preparation of policies and manuals (Compliance, AML, Risk Management, Remuneration, Governance, Conflicts of Interests, Business Continuity Plan, etc.); In 7 -15 Days • Draft of regulatory application for the company and individuals; In 14-28 Days (in line with RBP Draft & review of RBP) • Submission of Regulatory Application (with Policies and appointment of Senior Executive Officer, Finance Officer, Money Laundering Reporting Officer, Compliance Officer; Within 7 days from Regulator’s feedback • Provision of outsourced functions (Financial Officer /Risk Officer / Money Laundering Reporting Officer/ Compliance Officer); Upon submission of Application • Regulator’s review; At least 60-90 Days • Interviews with the Regulator for Senior Executive Officer, Financial Officer , Compliance Officer/ Money Laundering Reporting officer); Usually scheduled within a week • In-principle approval (IPA) issuance by Regulator; Usually 7-21 Days • Initiation of entity incorporation process; Up to 7 Days • Office lease (flexibility in lease may be available); In 7-14 Days (in parallel – pre-requisite for incorporation) • Bank account opening; In 14-28 Days for a simple structure • Deposit of share capital; In 2-3 Working Days • Regulator’s financial services license issuance. In 2-5 Working Days