Regulatory Alerts2014-10-30
Licensing of Insurance Companies and Foreign Branches
The Central Bank of the Republic of Kosovo has issued a regulation establishing comprehensive licensing procedures and requirements for domestic insurance companies and branches of foreign insurers operating in Kosovo. Applicants must submit detailed documentation, including a validated business plan, sufficient charter capital of at least €3 million, and proof of shareholder and senior manager suitability, while the CBK conducts a three-month evaluation to grant preliminary or final approval. The framework mandates strict capital validation, anti-money laundering compliance, and clear pathways for transforming foreign branches into subsidiaries or revoking licenses based on financial stability and regulatory compliance.
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