Schedule 5 — Licensing Criteria

When assessing an Application to conduct a Professional Services or other Non-Regulated Activity, as the QFCA may determine on a case by case basis, the QFCA may consider any of the following criteria, as well as any other criteria which in its sole discretion it considers relevant in order to further the QFCA'sObjectives in Article 5 of the QFC Law to establish, develop and promote the QFC as a leading location for international finance and business with a legal and regulatory structure that complies with international best practice.

(A) In respect to providing Legal Services
(i) a list of the professional bodies to which the Applicant is associated and/or regulated by;
(ii) details of any codes of practice or rules to which the Applicant complies;
(iii) a list of the laws and jurisdictions in which the Applicant and its lawyers are qualified to practice;
(iv) a list of any investigations undertaken by any regulatory body that regulates the Applicant;
(v) details of the types of Clients and matters that the Applicant has worked on in the past;
(vi) the extent to which the Applicant has shown its qualification to practice particular areas of law in support of different Permitted Activities to the standard that shall apply in the QFC;
(vii) the extent to which the Applicant has demonstrated that its core areas of practice are not readily available from provider of legal services already available in the State of Qatar or elsewhere in the region;
(viii) details of the Applicants professional indemnity insurance cover;
(ix) such other criteria as the QFCA may consider relevant or necessary.
(B) Accountancy Services
(i) a list of the professional bodies to which the Applicant is associated and/or regulated by;
(ii) details of any codes of practice or rules to which the Applicant complies;
(iii) a list of any investigations undertaken by any regulatory body that regulates the Applicant;
(iv) details of the types of Clients and matters that the Applicant has worked on in the past;
(v) details of the Applicants professional indemnity insurance cover;
(vi) qualifications to apply IFRS, UK GAAP, US GAAP, General Accepted Accounting Standards and/or AAOIFI standards;
(vii) such other criteria as the QFCA may consider relevant or necessary.
(C) Tax Services
(i) a list of the professional bodies to which the Applicant is associated and/or regulated by;
(ii) details of the codes of practice or rules to which the Applicant complies;
(iii) a list of any investigations undertaken by any regulatory body that regulates the Applicant;
(iv) details of the types of Clients and matters that the Applicant has worked on in the past;
(v) details of the tax systems on which the Applicant has experience of advising;
(vi) details of the Applicant's professional indemnity insurance cover;
(vii) such other criteria as the QFCA may consider relevant or necessary.
(D) Ship Broking and Agents Services
(i) a list of the professional bodies to which the Applicant is associated and/or regulated by;
(ii) details of the codes of practice or rules to which the Applicant complies;
(iii) a list of any investigations undertaken by any regulatory body that regulates the Applicant;
(iv) details of the types of Clients and matters that the Applicant has worked on in the past;
(v) details of the Applicant's professional indemnity insurance cover;
(vi) such other criteria as the QFCA may consider relevant or necessary.
(E) Credit Rating Services
(i) a list of the professional bodies to which the Applicant is associated and/or regulated by;
(ii) details of the codes of practice or rules to which the Applicant complies;
(iii) a list of any investigations undertaken by any regulatory body that oversees the Applicant;
(iv) details of the types of Clients and matters that the Applicant has worked on in the past;
(v) details of the Applicant's professional indemnity insurance cover;
(vi) such other criteria as the QFCA may consider relevant or necessary.
(F) Classification Services
(i) a list of the professional bodies to which the Applicant is associated and/or regulated by;
(ii) details of the codes of practice or rules to which the Applicant complies;
(iii) a list of any investigations undertaken by any regulatory body that oversees the Applicant;
(iv) details of the types of Clients and matters that the Applicant has worked on in the past;
(v) details of the Applicant's professional indemnity insurance cover;
(vi) such other criteria as the QFCA may consider relevant or necessary.
(G) Other Non-Regulated Activities
(i) a list of the professional bodies to which the Applicant is associated and/or regulated by;
(ii) a list of the codes of practice or rules to which the Applicant complies;
(iii) a list of any investigations undertaken by any regulatory body that oversees the Applicant;
(iv) details of the types of Clients and matters that the Applicant has worked on in the past;
(v) details of the Applicant's professional indemnity insurance cover;
(vi) such other criteria as the QFCA may consider relevant or necessary.
Amended (as from 23rd September 2014)