NoticeWith effect from 1 February 2019, under the provisions of the Commerce Liberalisation Act, foreign commercial entities may obtain a licence to conduct business within Imperial Royal Union. The Commerce Development Board (CDB) will be established to streamline the admittance process into the Imperialean market, and will assist foreign commercial entities in all administrative procedures. Commercial entities, local or foreign, that have obtained a licence shall be allowed to conduct business within Imperial Royal Union only after their licence is published on the Public Register.
The current mission of the Commerce Development Board is to attract foreign direct investments brought by companies providing financial services to help consolidate Imperial Royal Union’s position as an international financial hub. With a broad and vibrant market, companies can look towards providing diversified products across Imperial Royal Union with the assurance of a firm and fair infrastructure in place to support the industry. With a growing population of 4.1 billion and the emergence of an increasingly-affluent society, Imperial Royal Union is the premier choice for the expansion of financial services.
- Fill up the application form according to the instructions and submit it. Incomplete or incorrectly-filled applications will be rejected. Samples of complete application forms have been made available for reference.
- The Commerce Development Board will file all necessary documents and send the application to the relevant departments.
- Central Monetary Authority and the Commercial Licensing Agency will assess the application and will return the outcome of application to the Commerce Development Board.
- The outcome of application will be released by the Commerce Development Board. If successful, the Office of the Registrar-General will update the Public Register accordingly.
By submitting an application, an applicant agrees to the following terms and conditions:
- HIM Government and its subordinate organisations reserves the right to refuse, suspend or revoke a licence.
- All foreign commercial entities agree to abide by the rules and regulations set out by the relevant regulatory bodies designated by HIM Government.
- (OOC) If you have any queries, please feel free to make an enquiry via telegram and only via telegram. All other unsanctioned, unsolicited and undesirable forms of communication will hopefully be ignored, deleted and erased from memory.
- (OOC) Please only attach one application in one post.
- (OOC) Fill up the form according to the following instructions. Please do not amend or make alterations of the form based on your mood or fancy. This is to ensure a standardised format across all applications.
- Under the Financial Markets Regulation Act, a commercial entity with banking, advisory, insurance and monetary transfer operations shall keep such operations separate in the form of subsidiary companies. (eg. Company Alpha owns Bank Beta and Insurance Company Gamma, Company Alpha must register Bank Beta and Insurance Company Gamma separately.)
- Where a commercial entity engages in multiple brands of the aforementioned financial services through the use of different divisions, the commercial entity shall keep such operations separate in different subsidiary entities. (eg. Company Alpha owns Bank Beta and Bank Gamma, Company A is required to register Bank Beta and Bank Gamma separately.)
- Where a commercial entity engages in the advisory business, it shall keep its advisory businesses separate in different subsidiary companies. (eg. Company Alpha provides asset management services as well as financial advisory (insurance advice) services, Company Alpha must register two separate subsidiaries for each advisory business.)
- Where a commercial entity engages in the insurance business, it shall keep its reinsurance business, if any, separate in different subsidiaries. (eg. Company Alpha sells insurance and reinsurance, Company Alpha must register the reinsurance business separately.)
- Where a commercial entity engages in the monetary transfer (payments processing and remittances) business, it shall keep its operations separate in different subsidiaries. (eg. Company Alpha owns a credit card brand and a overseas remittance unit, Company Alpha must register both businesses separately.)
Company Name: Name in full. Do not exclude terms like Holdings, LLC, SA, AG etc.
Nation of Origin: Short nation name. Include your nation’s three-letter code in brackets.
Link to Storefront: Optional.
Brief Introduction: Optional, but strongly encouraged. Your chance to boast.
Bank Name: Name of a subsidiary company providing banking services. Remove all terms such as Holdings, LLC, SA, AG etc. Delete if unnecessary.
[ ] Deposit and stored-value facility services
[ ] Unit trusts and Exchange traded funds (only if your bank sells such products)
[ ] Personal and corporate credit and loans
Service Name: Name of a subsidiary company providing services via agents. Remove all terms such as Holdings, LLC, SA, AG etc. Choose one option only. Delete if unnecessary.
[ ] Asset management services (agent directly manages assets on behalf of client)
[ ] Financial advisory services (agent sells insurance products to client)
[ ] Exchange brokerage services (agent executes orders according to client)
Company Name: Name of a subsidiary company providing insurance products. Remove all terms such as Holdings, LLC, SA, AG etc. Such a company provides insurance products, but employs agents to sell them. A reinsurer may not sell other products. Delete if unnecessary.
[ ] Life insurance products (term life, health and accident, endowment, ALL life policies)
[ ] Personal general insurance products (motor insurance, travel insurance etc.)
[ ] Commercial general insurance products (event insurance, insurance for companies)
[ ] Reinsurance (insurance for insurance companies)
Company Name: Name of a subsidiary company providing financial transfer services. Include all terms such as Holdings, LLC, SA, AG etc. Choose one option only. Delete if unnecessary.
[ ] Third-party transaction services (eg. Mastercard, Visa etc.)
[ ] Overseas remittance services (transfer of money overseas, eg. Western Union)
Still confused? See our sample applications. If you intend to register a bank and a bank only, please delete the last three sections. Your company name is BANKNAME + suitable prefix (LLC, SA, AG etc.) while your bank name is BANKNAME.
- Code: Select all
[box][blocktext][b][size=125]REGISTRATION OF FINANCIAL SERVICES[/size][/b][hr][/hr]
[b]Company Name:[/b]
[b]Nation of Origin:[/b]
[b]Link to Storefront:[/b]
[b]Brief Introduction:[/b]
[b][u]Bank Name:[/u][/b]
[ ] Deposit and stored-value facility services
[ ] Unit trusts and Exchange traded funds products
[ ] Personal and corporate credit and loans
[b][u]Service Name:[/u][/b]
[ ] Asset management services
[ ] Financial advisory services
[ ] Exchange brokerage services
[b][u]Company Name:[/u][/b]
[ ] Life insurance products
[ ] Personal general insurance products
[ ] Commercial general insurance products
[ ] Reinsurance
[b][u]Company Name:[/u][/b]
[ ] Third-party payments processing services
[ ] Overseas remittance services[/blocktext][/box]