Is there any objection to the shareholder or shareholders of an institution that will obtain an operating license being foreign individuals or legal entities?
No. Companies whose shareholder or shareholders are foreign individuals or legal entities can also apply to our Institution for an operating license. Documents regarding foreign individuals or legal entities must be sent to our Institution in accordance with the principles set out in Article 61 of the Regulation, titled “Documents to be obtained from abroad”.
What is expected in the application if there is a foreign shareholder?
Documents brought from abroad must be certified by official authorities and translated if necessary. The source of the capital and that it was brought in through legal channels must also be documented.
For structures with foreign shareholders, the cross-border chain of control is usually asked about; that is, through which companies the ownership is set up and who the ultimate beneficial owner is. This information must be clear in the application file.
Since preparing the documents takes time, the timeline for ventures with foreign shareholders is usually longer.
