CLASSIFICATION AS PROFESSIONAL OR RETAIL CLIENTS

In order to comply with the Rulebook of the Dubai Financial Services Authority (DFSA), Bambucorn is required to classify all Clients on the Platform into one of two different categories: Professional or Retail. Retail Clients will be allowed to invest up to USD 50,000 in a calendar year on our platform. In order to be classified as a Professional Client you may be required to provide documentary evidence. Even if you do satisfy the criteria to become a Professional Client, you may choose to be classified as a Retail Client. A higher level of protection may be offered to Retail Clients. You are a Professional Client if you satisfy any one of the following criteria:

CRITERIA FOR AN INDIVIDUAL

  • You are an individual with a net worth of at least 1 million USD (excluding the value of your primary residence). You also need to demonstrate that (a) You are an employee in a relevant professional position of a regulated financial institution (not necessarily regulated by the DFSA) for the previous two years ; or (b) You have sufficient knowledge of the relevant financial markets, products and any associated risks.

    Documents Required:

    A letter by a regulated financial institution, lawyer or a certified accountant certifying that your individual/joint net worth is above USD 1 million excluding your primary residence, and either of the following two:

    1. A signed copy of the Knowledge Assessment Form
    2. Employment records demonstrating that you have been an employee in a relevant capacity at a regulated firm (not necessarily by DFSA)
  • You are a joint account holder with a primary account holder (individual ) classified as a Professional Client and satisfy all of the following criteria; (a) You are a family member of the primary account holder, (b) The joint account is used for managing the investments of the primary account holder and yourself; and (c) You confirm in writing that investment decisions relating to the joint account are made for/on behalf of you by the primary account holder.

    Documents Required:

    1. Proof that the primary account holder has been classified as a Professional Client by Bambucorn
    2. Proof that you are a family member of the primary account holder (for the defenition of a family member, please refer to Rule 2.3.7 (4) of the COB Module of the DFSA Rulebook) 
    3. A confirmation in writing that investment decisions relating to the joint account are made for/on behalf of you by the primary account holder.

CRITERIA FOR AN ENTITY

  • You are an institutional firm whose main activity is to invest in financial instruments, including an entity dedicated to the securitization of assets or other financial services

    Documents Required:

    1. A copy of the institutional firm’s Commercial License (or equivalent) which clearly lists its permitted activities
  • You are a trust that has had over a period of the past 12 months, assets of at least USD 10 million

    Documents Required:

    1. A copy of the trust deed
    2. A copy of the trust’s latest audited financial statements
  • You are a business that satisfies at least two of the following conditions: (a)Net assets of at least USD 20 million or (b)Net revenue of at least USD 40 million or (c)Value of own funds (cash and investments) or called-up capital (amount paid-up on all allotted shares less any amounts owned) of at least USD 2 million.

    Documents Required:

    1. A copy of your latest audited financial statements
    2. A copy of your Commercial License
  • You are a firm regulated by a financial regulator (including the DFSA), or a Collective Investment Fund (as defined by DFSA) or a regulated pension fund. This would also include a holder of a license under the Single Family Office Regulations.

    Documents Required:

    1. Copy of the firm’s license
  • You are a business that satisfies the following conditions: (a)Value of own funds (cash and investments) or called-up capital (amount paid-up on all allotted shares less any amounts owned) of at least USD 1 million and (b)You can demonstrate that you have sufficient knowledge of the relevant financial markets and products and any associated risks

    Documents Required:

    1. A copy of your Commercial License
    2. A copy of your latest audited financial statements
    3. A signed copy of the Knowledge Assessment Form
  • You are a supranational organization whose members are either countries, central banks or national monetary authorities.

    Documents Required:

    1. A certificate demonstrating the organization’s supervisory status
  • You are a government, government agency, public authority, state investment body, central bank or other national monetary authority of any country or jurisdiction.

    Documents Required:

    1. Any constitutional documents of the entity on behalf of whom you are investing
  • You are a firm whose shares are listed or admitted to trading on an IOSCO member country.

    Documents Required:

    1. Listing Certificate or equivalent
    2. Certificate of Incorporation or equivalent

Please note that any person meeting any of the criteria above has the right to be classified as a Retail Client, despite meeting the criteria to be classified as a Professional Client.