Single contact point
The CNMV will create a single contact point for applicants.
From the first moment of the process, an English-speaking coach will be assigned to each applicant. Coaches will provide guidance through the full process and will continue helping and monitoring applicants for a 6-month period after authorisation has been granted.
Straight-forward authorisation process
UK-based firms that are planning to relocate their business to Spain and which are currently supervised by the UK competent authorities can opt for our straight-forward authorisation process.
For this purpose, the CNMV is committed to the following initiatives:
- Standardised application forms
- The CNMV will provide application forms (including detailed instructions) in English on its website.
- Electronic submission of documents
- The CNMV provides the option of submitting all the relevant documents electronically in an easy straight-forward way.
- Pre-authorisation period of two weeks
- This pre-authorisation process will provide assurance to firms that they are likely to be formally authorised shortly (i.e. within two months) so that they can start organising the move to establish their business in Spain.
- Formal authorisation within two months
- The CNMV will follow a friendly and flexible approach in relation to the documentation that needs to be filed. In this regard, the CNMV undertakes to grant formal authorisation within two months, provided that the applicant meets the mandatory requirements and the required documentation has been substantially presented.
- Equivalent documents
- Whenever possible, the CNMV will accept pre-existing documents available in English that have already been filed with and approved by the FCA or by the UK competent authority (or another competent authority in the EU) and is willing, after proper consideration, to rely on previous decisions by such authorities.
Documentation in English
In its relationship with applicants (authorisation, supervision, any subsequent requirements, etc.), the CNMV will accept that all relevant documentation is presented in English without the need of any translation.