Should a licensed foreign insurance company intend to open a branch therefor in the State it shall submit an application as so to the Authority on the form prescribed by the Authority for the purpose.

1. The following documents shall accompany the application to open a branch for a foreign insurance company licensed in the State:
    
   1. An economic feasibility study and work plan of the branch.
       
   2. A certificate duly attested attached therewith a certified translation into Arabic establishing that the mother company is being evaluated and rated by one of the international bodies engaged in rating the insurance companies which in its respect the Board had issued a resolution specified therein the rating degree.
       
   3. An undertaking that Emiratization percentage rate in the company will not be less than the rate as determined by the pertinent official authority.
       
   4. An undertaking by the company to provide specialized training courses in the field of insurance for UAE nationals working in the company.
       
   5. The organizational structure of the branch, a list of the names of the branch's manager and the senior officers of the branch and qualifications of each one of them and particulars of the persons authorized to sign on behalf of the branch.
       
   6. Any other documents as determined by the Authority.
        
2. The provisions of the Articles (34), (36) and (37) of the Regulation herein shall be applied to the application procedures of opening a branch for a foreign company licensed to operate in the State.