Purpose of Making an Application
Under the Trust and Corporate Services Providers Act, 2017, as amended (the “TCSP Act”), a corporate service provider, a trust service provider, or a trust and corporate service provider must be licensed in order to provide or hold himself out as capable of providing a corporate service or a trust service in or from Jamaica. Similarly, the principal representative required to be appointed by an applicant for the grant of a licence, must be registered.
In order to be licensed or registered a person (individuals and corporate entities) must make an application to the FSC. The excel-based application form for a licence or registration provided by the Financial Services Commission (the “FSC”) is to be used by every person seeking to be licensed or registered under the TCSP Act. The FSC will use the information in the application form to determine whether an applicant satisfies the requirements for the grant of a licence or registration according to sections 6 and 7 of the TCSP Act. The purpose of making an application is to collect the information necessary for the FSC to make this determination.
To apply for a Corporate Service Provider Licence, a Trust Service Provider Licence, or a Trust and Corporate Service Provider Licence applicants must submit the following appropriately completed application forms together with the information and documents specified and the prescribed fee.
- Application For Licencing And Registration – Form 1
- Fit and Proper Questionnaire – Form 2
- Referee Contact Details – Form 3
- Confidential Report
- Self Verification Form
To apply for registration as a Principal Representative applicants must likewise submit the above listed completed application forms together with the information and documents specified and the prescribed fee.
As an applicant for a licence, you will be required to submit documents that provide specific information about your service provider business (actual or proposed). To ensure a timely and efficient review of your application, please ensure you provide complete and correct information, as well as all required supporting documents.
Requirements For Beginning an Application
Before starting an application, applicants are required to peruse the instructions provided in the relevant application forms and be guided by the referenced guide to completing the application form, bulletins, and guidelines published by the FSC regarding licensing and registration. The guides, bulletins and guidelines can be accessed at the links below:
To obtain a licence, an initial non-refundable fee of $15,000 must be paid at the time of making the application. For more information on fees, please refer to the Fees Tab.
Completing and Submitting the Application Forms
Each application form must be fully completed. An incomplete application will result in the return of the application documents to the applicant without review by the FSC. Kindly note that pursuant to section 6(2)(b) of the TCSP Act, the application fee is non-refundable.
The completed application forms, supporting documents, and payment (or evidence thereof) of the prescribed application fee should be submitted via the specified portal(not yet available) on the FSC’s website. Also, the signed application form must be submitted by registered mail through the post or hand-delivered to the offices of the Financial Services Commission at 39-43 Barbados Avenue, Kingston 5.
If for whatever reason submission via the aforementioned portal is not possible, then the applicant should complete the application form using the Excel workbooks available on the FSC’s website, print, sign, date and deliver the application forms with all other forms and required documents and information via the post or by hand to the office of the FSC. The completed Excel forms must also be submitted to both of the following email addresses:
Variation of Authorization
Where a licensee wishes to change the scope of the authorization granted by the Financial Services Commission for its conduct of corporate and/or trust service provider business, the licensee must complete and submit the following forms together with the fee prescribed at item 1 of the First Schedule.