Eternity Law International — News — Asset management license in UK

Asset management license in UK

Published:
February 5, 2024

Such licensing type is available to citizens of all countries of the world. Approval of the right to work with finances in the British jurisdiction is carried out by the FCA. This independent public body has significant authority among local and foreign residents. The UK is one of the most prestigious global jurisdictions, which results in guaranteed stability and a high level of security for investors.

Our company provides expert assistance in process of variant to obtain an asset management license in UK. Our lawyers are ready to cooperate with firms and private entrepreneurs, accepting applications at any time convenient for you. We guarantee comprehensive consultancy on any issues connected with getting asset management license in different countries worldwide. Our professionals may offer you such a lucrative option as a UK asset management license for sale.

Overview of legislature for asset management license in UK

The FCA issues licenses to a variety of legal entities such as banks, insurance companies, mortgage providers, funds, brokers, advisers and securities market participants. To successfully get such permit, it is necessary to provide complete and accurate information about the nature of the operation of the enterprise, as well as about the owners and shareholders. The FCA has strict normative points and rules for applicants.

The process involves launching your own firm in UK; its cost is indicated in the price list on our website or can be clarified by lawyers. After registering a company, a membership fee is required to be paid to a British bank; sum is calculated individually, based on category of firm’s business-activities and volume of services provided. Government fees contain application and renewal fees for asset management license in UK, and tax obligations are calculated separately.

To get asset management license in UK: benefits, requirements and key steps

  1. Consultation with the client: an individual discussion with a lawyer is held. At this stage, the client’s needs are determined, a list of required documents is generated, and a work plan is thought out to prepare a package of documents intended for licensing locally.
  2. Exchange of primary documents: not bearing in mind client’s category (individual capital-holder or entity), it is necessary to provide the applicant’s passport, an application with an original signature or digital signature, as well as a power of attorney. All forms can be submitted remotely, by mail, fax or through online channels.
  3. Collection of necessary documents: the company’s lawyers cooperate with the regulator to prepare all the required documentation. The package includes personal data of shareholders and beneficiaries, as well as full information about company, incl. internal structure, number of employees and funds condition. Extracts from tax and state registers and confirmation of absence of debts are also needed.
  4. Preparation of documents for option to get asset management license in UK: since the regulator performs data analysis in English, professional translation may be required. In addition, a preliminary check of the package’s correspondence with normative parameters of United Kingdom is carried out.
  5. Consideration of package by a foreign financial authority usually takes 6-8 months. Once licensed, clients conducting financial activities in England are required to provide reports to the tax authorities and comply with FCA requirements. Extension of the permit is implemented by the participation of specified commission. Clients wishing to find out more about the UK licensing procedure might receive free consultancy today.

Interested capital-holders might also turn to such an option as UK asset management licensed company for sale. It’s a completely ready-to-use business-project.

Individual and collective portfolios

Investment management-company, in its business-activities, might provide services to both individual clients, such as funds, and professional and retail investors. The distinctive feature is the choice between individual and collective portfolio management, which determines the appropriate regulatory regime (UK MiFID, UK AIFMD/UK UCITS or a combination of these). Required types of permits include:

  • investment consulting;
  • organization (implementation) of investment transactions;
  • consent to conduct controlled business-activities;
  • work with investments as an agent;
  • concluding agreements on investment transactions;
  • investment management;
  • control and storage of client money.

Additional permits may be required, particularly, for organization of security and assets management-operations, and for security and acceptance of clients’ assets.

Prudential norms

The prudential supervision procedures covered by MiFID in UK are set out in MIFIDPRU, prudential guidance for such firms. Investment managers are typically classified as small, independent organizations, which means they meet a basic minimum requirement of £75,000.

However, some investment managers may be exempt from MiFID under Article 2 and therefore are not subject to MIFIDPRU. An example is firms specializing in occupational pension schemes (OPS). Applicable prudential norms are set out in IPRU-INV 5. In the case of customer custodian plans, the firm will not be treated as a small independent firm and is likely to be subject to higher own funds requirements.

Getting such permit involves meeting threshold conditions, meeting the minimum standards set by FSMA, as well as ensuring the suitability of key individuals, having offices in the UK, having the necessary resources, and demonstrating competence and ability to manage funds effectively.

Our company is ready to offer you fully-covering support in option to obtain asset management license in UK, accompanying you at every stage. Additionally, we possess option of asset management license in UK or sale. We also possess plenty of offers of ready-made asset management licenses for sale in Czech Republic, in Lithuania, Germany and other countries.

Legal expertise and advisory service

Our firm is a leading international consulting company specializing in the field of such services, e-money, banking and investments. We’ll be fully-helpful for you if you decide to buy UK licensed asset management company. Our experience allows us to develop the best course of action and strategy for you based on your business-plans and products or services.

We’re ready to support you with licensing, compliance, operational setup and related services, including access to banking services. In addition to this, we also offer the advantageous option of asset management license for sale in UK as a turnkey commercial solution.

Our services

  1. Fully-covering application preparative phase: Includes necessary documents, mechanisms and procedures.
  2. Preparative phase of KYC-materials: development of detailed materials for mandatory persons.
  3. Submitting application to DFSA: required documents are submitted on time.
  4. Regulative liaison: covers the entire consideration process, including re-review two weeks after submission and subsequent considerations.
  5. Consultation and support at all stages: providing detailed advice and support, including participation in interviews with authorized persons.
  6. Assistance in fulfilling basic norms: includes creation of organization, creation of a banking account and contributing share capital.
  7. Asset management licensed company for sale in UK, as well as in other jurisdictions.
  8. Post-authorization support: providing advice on all aspects of the business for successful operation after getting authorization.
  9. Personalized approach: our consultancy and strategies are tailored to the unique characteristics of your business.
  10. Global market expertise: We have deep knowledge and experience in international market trends to provide you with critical insights for successful development.

We have been working in the licensing field for many years, so we have managed to gain a wonderful reputation and a lot of satisfied clients. Our experts guarantee the most efficient work, taking into account your capabilities and wishes. We are ready to offer you ready-made firms with licenses for asset management in Switzerland, Latvia, Denmark and other countries. Our firm also provides such a variant as a ready-made asset management license in UK for sale for quick commercial start. Turn to us now to quickly complete the licensing process and get possibilities to act in one of the most promising global jurisdictions.

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