SCA shall verify that the abovementioned data and documents are complete in their final form; and then, SCA shall arrange for an onsite visit to the branch to ensure its readiness for operation before issuing the license. 12.
The branch shall pay the fees for registration at SCA prior to issuing the license. The collectible license fee shall be prorated for the period of the license to the year with a part of the month calculated as a whole month. A one full year fee shall be AED 5000.
The license shall be issued and shall remain valid as from the date of its signature through the end of the year subject to renewal at the beginning of the following year.
SCA shall ensure that all items stipulated in clause (a) are fully met before issuing a license renewal certificate.
One year ending on December 31st each year. The period of the first license shall be as of the date of issuance through December 31st of the same year. The fee due for this license shall be prorated for the period of the license to the year with a part of the month calculated as a whole month