Part 1- IHC Humanitarian Organizations and Commercial Companies (FZLLC) Common Regulations
Chapter 4- Renewal of License
Section 1- Conditions of Renewing the License
Article 1 – Submitting a Request and Fulfilling the Requirements
A Humanitarian Organization or Commercial Entity must submit to the Authority a renewal request and the required fees and documents no later than sixty (60) days prior to each renewal date.
Article 2 – Satisfying the Relevant Criteria
The Humanitarian Organization or Commercial Entity requesting renewal of License should present to the Authority the information and documentation that prove the following:
- Compliance with the rules set out in Chapter 3 of the Part 1 of these Regulations;
- Being actively operational during the precedent year(s).
Section 2- Provisions related to granting the renewal of License:
Article 1- Considerations
a- In determining whether to grant or refuse renewal of a License, the Authority reconsiders the following:
- The details of the Humanitarian Organization or Commercial Entity and its beneficial owners;
- The details of those who own 5% or more of the Commercial Entity;
- Whether the Humanitarian Organization, Commercial Entity and/or its beneficial owner(s) is/are listed in UN’s or UAE’s list of suspected terrorist organizations or individuals;
- Whether the Humanitarian Organization or Commercial Entity or its beneficial owner(s) is/are associated with any suspected or terrorist organizations or individuals.
b- In considering whether to grant or refuse the renewal of the License, the Authority observes the UAE anti-money laundering and combating of terrorism financing framework including the Federal Decree-law No. 20 of 2018 concerning the anti-money laundering and combating the financing of terrorism and financing of illegal organizations, and the Federal Law No.7 of 2014 concerning combatting terrorism offences, other laws, regulations and Central Bank’s regulatory provisions.
Article 2- Grounds to Refuse Granting Renewal of License
The Authority shall refuse to grant a License in various cases, including but not limited to the following:
- In case the Authority suspects that the Humanitarian Organization or Commercial Entity is linked to any suspected or terrorist organization or individual(s);
- In case the Authority suspects that the Humanitarian Organization or Commercial Entity is involved in money laundering practices;
- In case the statements, information and/or documents submitted by the Humanitarian Organization or Commercial Entity are false or misleading;
- In case the Humanitarian Organization or Commercial Entity has not met one of the conditions or criteria of License renewal.
Article 3- Further Actions Following the Refusal of License Renewal
The Authority shall report the Humanitarian Organization or Commercial Entity which are suspected to have conducted operations that are linked to money laundering and/or terrorist financing or financing illicit organizations (as defined in the Federal Decree-law No. 20 of 2018) to UAE Law Enforcement Authorities and/or to the Central Bank of the UAE.