Article 18 — Letter from an Eligible Firm

The application to the QFC Authority for Licence to conduct SFO Activities must be accompanied by a signed letter from an Eligible Firm confirming that:

(a) the Articles of Association of the Single Family Office satisfy the requirements of Article 19;
(b) to the best of its knowledge and belief, the family in question constitutes a Single Family and satisfies the requirements of Article 8;
(c) to the best of its knowledge and belief, the Single Family Office is ultimately beneficially owned by one or more Family Members of the Single Family, one or more Family Fiduciary Structures or one or more Family Entities or a combination of any of them;
(d) it has carried out appropriate due diligence to identify the legal and beneficial owner(s) of the Single Family Office and the Person(s) who control the Single Family Office; and
(e) it has carried out appropriate due diligence to identify the common ancestor identified by the applicant in its application or has carried out appropriate due diligence to identify at least one of the most senior descendants of the common ancestor willing to support the application to establish a Single Family Office.