INMA 3.3.3 Minimum paid-up share capital
(1) An INMA firm must have paid-up share capital of at least the amount specified, by reference to the activity that the firm is (or is to be) authorised to conduct, in table 3.3.3. If the firm is (or is to be) authorised to conduct more than 1 such activity, it must have the higher or highest of the relevant amounts of paid-up share capital.
Table 3.3.3 Minimum paid-up share capital
|Activity||Minimum paid-up share capital (QR)|
|Dealing in investments (if limited to dealing as agent)||1.8 million|
|Managing investments||1.8 million|
|Providing custody services||1.8 million|
|Operating a collective investment scheme||1.8 million|
|Providing custody services in relation to a collective investment scheme||35 million|
|Providing scheme administration||900,000|
|Arranging deals in investments||900,000|
|Arranging the provision of custody services||900,000|
|Arranging financing facilities||900,000|
|Advising on investments||900,000|
(2) If the Regulatory Authority considers that, because of the nature, scale and complexity of a particular INMA firm's business, the firm should hold higher paid-up share capital than is required by subrule (1), the authority may at any time require the firm to hold a specified higher amount of paid-up share capital.
Note Paid-up share capital (for firms that are not companies) is defined in the glossary.
|Amended by QFCRA RM/2015-3 (as from 1st January 2016).|