Cancel a service in existing License

Cancel a service in a license for trust service providers

Service Description

This service enable the cancellation of a (Qualified) Trust Service from a valid license of (Qualified) Trust Service Providers

Service Steps
Expected Time

Within 30 days of application completion date

Fees

Fee requesting cancellation of a service in the license: 10,000 AED

Target Audience

Business Sector

Government Sector

Service Channels

Smart App

TDRA Website

Email

Service Conditions

  • The licensee may not suspend any of its activities or services without prior approval from TDRA
  • The licensee must notify TDRA of its desire to discontinue any of the Trust Services, Qualified Trust Services, or / and all such services, or part thereof, at least three months before the planned termination date
  • The application fee is non-refundable regardless of the final outcome of the application, whether approved or rejected
  • TDRA may reject the application if the requirements are not completed within 60 days from application submission date
  • If the request is approved/granted:
  1. The service is cancelled from the valid license without changing the license expiration date
  2. The Licensee shall abide by the procedures for activating the approved termination plan
  • The licensee must notify the public, including subscribers and approved parties, of its desire to discontinue any of its services, in whole or in part, at least two months before the planned termination date, and after obtaining TDRA's approval.

Complication Level

Complex service

Service Package

TSP Licensing

Service outcome

- The service is cancelled from the valid license without changing the license expiration date - Amendment to the UAE Trusted List - Obtaining the updated license (as applicable)

Service Remark

No service remarks

Service Limitation

TSPs and QTSPs licensed by TDRA

Linkage to Other Services

The service is linked to "New Application for Trust Services License " service

Required Documents

- Provide a Trust Service cancellation request

- Provide all requirements for the remaining services

- Provide the following documentations:

  • Copy of the license issued by the competent authority or otherwise entitling them to engage in activities in the country
  • Statement of the commercial/business activities not related to Trust Services and Qualified Trust Services that the license applicant is authorized to practice
  • Data of the license applicant's operating location or place of business in the country
  • Copy of the license applicant's work plan, showing the nature and strategy of their business, goals, marketing plans, and service delivery plan
  • Type of commercial/business/trade license and partners' shares therein, if any, and the organizational structure of the licensing applicant
  • Statement of institutional and operational capabilities/capacities of the licensing applicant
  • Compliance assessment report not exceeding one month
  • Copy of the documents submitted during the compliance assessment process
  • Service termination plan
  • Financial data report for the last fiscal year issued by a UAE-accredited auditor, proving the availability of financial resources equivalent to (5,000,000) five million AED
  • Providing a bank guarantee or insurance determined by TDRA, which is automatically renewed upon license renewal

- Completing the application fee payment process on TDRA's portal

For assistance, get in touch through

Call: 800 12

Evaluate Your Experience