Insurance Intermediary License (License of Brokerage Company, License of Agent Company, Company License for Damage Review / Valuation)

Central Bank of the Republic of Kosovo, Department of Licensing and Standardization

Qëllimi: The purpose of this procedure is to establish the minimum conditions to be met by interested parties for licensing as insurance intermediaries. This procedure regulates the process of evaluation of the applications, which makes it possible for only those entities that meet the criteria set out in the applicable legislation to be allowed to enter this market.

Përshkrimi: Those interested in licensing as insurance intermediary must meet all requirements under Law no. 05/L-045 On Insurances, necessary for the application process. To apply for an insurance intermediary license, the applicant must first contact The Department of Licensing and Standardization within the Central Bank of Kosovo to make an appointment prior to application. The CBK will accept applications only if an introductory meeting is held. Following the introductory meeting, the applicant shall be provided with the forms and samples as provided in the CBK procedure. The application must be in writing, signed by the founder and submitted to CBK, with physical presence of the representatives of the founder. The application shall be submitted together with the full documentation required by Law No. 05/L-045 on Insurances, the Rule on the Licensing Insurance Intermediaries and as per internal acts of CBK. After application is completed by the applicant, the executive board of the Central Bank of Kosovo, within 90 days, decides for approval or rejection of the application. Insurance broker license shall be granted for an indefinite period of time and it will not be transferable. The documentation provided must be in one of the two official languages of the Republic of Kosovo, either in the original or in a legalized copy.

Baza ligjore

Vlefshmeria e lejes: The license is issued for an indefinite period of time.

Organi i ankimimit: Competent court

Afati i ankimimit: 15 days

Informatat e kërkuara

  • Parent Intermediary Company;
  • Applicant Company/Potential Intermediary;
  • Representative of the Applying Company/Potential Intermediary;
  • Ownership of the Applicant Company/Potential Intermediary;
  • Organization and Control;
  • Business Objectives;
  • Risks;
  • Equity adequacy;
  • Potential added value for the Financial System in Kosovo;

Koha e parashikuar brenda së cilës duhet të jepet përgjigje për proceduren (në ditë): 90

Dokumentacioni i kërkuar

  • Application Form; (Original)
  • The composing documents of the proposed intermediary company, including notarized copies of the original documentation under which it was established, as well as the proposed address; (Verified copy)
  • Name, nationality, residence, qualifications, experience and accompanying references as well as a copy of the identification document of directors (if applicable) and senior managers of the proposed company, as well as at least of one agent respectively broker licensed by the CBK; (Copy)
  • Official evidence from the competent court, disclosing any potential conviction for criminal offenses and any criminal proceedings for the shareholders, directors (if applicable) and senior managers proposed; (Original)
  • CBK official form authorizing CBK to request information from competent institutions for the purpose of verifying their criminal past for each director (where applicable) and senior managers of the proposed company; (Original)
  • A document proving the amount of the proposed committed intermediary''s capital, including details on the origin of that capital; (Verified copy)
  • The business plan including, inter alia, the organizational structure of the proposed intermediary company, the anticipated financial statements for three (3) years, and whether there are audited shareholders'' financial statements for the past three (3) years; (Original)
  • Provisional contract with the insurer on whose behalf the activity will take place for the agents'' companies; (Original)
  • Document - Lease Agreement and notification - form for completion of technical conditions that certifies that the intermediary company has the environment and the infrastructure appropriate to carry out the activity; (Original)
  • In any case where the applicant is a foreign financial institution proposing the establishment of a subsidiary intermediary company in Kosovo, a statement from the supervisory authority of the home country should be provided that there is no objection to the initiation of the proposed activities in Kosovo, (if that is required by the parent country legislation) as well as the official approval from the responsible bodies of intermediary company. The statute of the foreign parent company together with the financial reports of the parent company must be brought with the documents of the foreign applicants; (Original)
  • Documents required in the application form and other additional information that may be considered appropriate by the CBK. (Original)
Lloji i pagesësShuma (në Euro)Mënyra e pagesësNumri i llogarisë
PaymentPayment for obtaining the license License of brokering company 5,000.00 € License of agents’ company 3,000.00 € Company License for Damage Review / Valuation 3,000.00 €Banking transfer 1000700010000130

Formulari nuk është në dispozicion