CSSF Grade A

License requirements for investments firm

1. Granted to natural or legal persons in the form of a public entity or a commercial company
2. Fully paid-up share capital of not less than EUR 50,000 up to EUR 730,000.
3. Registered office are located in Luxembourg
4. Have robust internal governance arrangements which include a clear organizational structure with well-defined, transparent and consistent lines of responsibility, effective processes to identify, manage, monitor and report the risks it is or might be exposed to, and adequate internal control mechanisms, including sound administrative and accounting procedures, as well as control and security arrangements for IT systems.
5. Natural and legal persons are allowed as shareholders or members in an investment firm, provided that they are previously authorized by the CSSF
6. Approved statutory auditors

Documents require

1. Key information Presentation of the future investment firm
2. Description of the business model Detailed description of proposed activities and offered services
3. Description of targeted clients and strategy to achieve targeted levels
4. Description of geographical distribution and envisaged branches/subsidiaries/tied agents
5. Description of key elements of business plan Financial forecast for the next 3 years (Balance sheet, profit & loss account, capital ratio) Description of organizational structure including human resources Description of IT infrastructure and organization
6. Description of outsourcing arrangements Description of business continuity plan including backup facilities & disaster recovery Capital and liquidity Own funds (amount, sources and composition) Capital requirements/Liquidity requirements Audited financial statements for the last 3 financial years (if entity is already existent) or financial forecast for the first 3 business years (if newly established entity) Shareholders Presentation of the group, including complete structure chart Description of direct and indirect shareholders (identity, details of shareholder rights, shareholder agreements, extract from the shareholder register) Presentation of Beneficial owners (identity, proof of financial soundness) Central administration/internal governance