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  • PIB 3.6 PIB 3.6 Base Capital Requirement

    • PIB 3.6.1 PIB 3.6.1

      This section applies to an Authorised Firm in any Category.

      Derived from RM111/2012 (Made 15th October 2012). [VER20/12-12]

      • PIB 3.6.1 Guidance

        1. The Base Capital Requirement is a component of the calculation of the Capital Requirement under PIB sections 3.3, 3.4 and 3.5.
        2. As the Base Capital Requirement in PIB Rule 3.5.2 does not apply to an Authorised Firm that only manages Venture Capital Funds, this section also does not apply to such a firm.
        Derived from RM111/2012 (Made 15th October 2012). [VER20/12-12]
        [Added] DFSA RMI281/2020 (Made 28th October 2020). [VER37/11-20]

    • PIB 3.6.2

      The table below sets out the Base Capital Requirement for each Category of an Authorised Firm.

      Category Base Capital Requirement
      Category 1 US $10 million
      Category 2 US $2 million
      Category 3A

      US $500,000
      Category 3B

      US $4 million

      Except if the only Financial Service referred to in PIB Rule 1.3.4 is Operating an Employee Money Purchase Scheme or Acting as the Administrator of an Employee Money Purchase Scheme, in which case the Base Capital Requirement is:
      (a) US $500,000 for an Operator; or
      (b) US $1 million for an Administrator.
      Category 3C

      US $500,000

      Except if the only Financial Service referred to in PIB Rule 1.3.5(a) that the Authorised Firm is authorised to carry on is Managing a Collective Investment Fund in which case its Base Capital Requirement is:
      (a) US $140,000 if it manages any Public Fund or Credit Fund; or
      (b) US $70,000 otherwise.
      Category 3D

      US $200,000
      Category 4

      US $ 10,000

      Except if the Authorised Firm:
      (a) is authorised to Operate a Crowdfunding Platform and it holds Client Assets;
      (b) provides Money Transmission; or
      (c) is authorised to Operate an Alternative Trading System and it holds Client Assets,
      in which case its Base Capital Requirement is US $140,000.
      Category 5 US $10 million
      Derived from RM111/2012 (Made 15th October 2012). [VER20/12-12]
      [Amended] DFSA RM188/2016 (Made 7th December 2016). [VER26/02-17]
      [Amended] DSFA RM203/2017 (Made 14th June 2017). [VER28/08-17]
      [Amended] DFSA RMI263/2019 (Made 18th December 2019). [VER35/01-20]
      [Amended] DFSA RMI270/2020 (Made 26th February 2020). [VER36/04-20]
      [Amended] DFSA RMI304/2021 (Made 30th June 2021). [VER39/09-21]
      [Amended] DFSA RMI312/2021 (Made 30th June 2021). [VER40/10-21]
      [Added] DFSA RMI326/2022 (Made 27th April 2022). [VER42/06-22]

    • PIB 3.6.3

      An Authorised Firm must have Common Equity Tier 1 Capital (CET1 Capital), as defined in PIB section 3.13, of not less than its relevant Base Capital Requirement at the time that it obtains authorisation and at all times thereafter.

      Derived from RM111/2012 (Made 15th October 2012). [VER20/12-12]