register as

certifier

What Is a Certifier?

A legal entity that conducts a financial, legal, technical, and administrative analysis of the material and relevant information of public offerings contained in the Relevant Information Document, and issues and submits a report on the issuer’s compliance with formal and substantive obligations to the National Commission of Digital Assets.

Pre-Registration Process

Pre-register here

 For a correct pre-registration, it is necessary to have clear which steps to follow, detailed below.

Pre-Registration Form

Interested parties must fill out the pre-registration form with information and documents related to:

  1. Applicant; and
  2. Area they wish to operate in.
1.
2.

CNAD Evaluation

The CNAD will conduct the corresponding analysis of the information provided in the form, and may request additional information from the interested party if necessary.

Submission of Additional Information

The interested party must submit the required additional information.

3.
4.

Second Evaluation by CNAD

The Commission will conduct a second evaluation and issue either an “objection” or “no objection” with proper justification.

No Objection: CNAD will specify to the applicant the requirements and process for registration in the desired operating area.

Objection: Will be based on lack of territorial and material competence, in accordance with Articles 2 and 4 of the LEAD.

The interested party must fill out the pre-registration form found on the official website of the national commission of digital assets, with the following information and documentation:

Requirements for Pre-registration as a Certifier

The interested party must fill out the pre-registration form available on the official website of the National Commission of Digital Assets, providing the following information and documentation:
  1. Identification of the person responsible for the request: name, surname, position, phone number, email, and address.
  2. Identification of the applicant: social denomination, trade name, URL, physical address, country of residence, sector of operation, type of client to whom services are offered, description of the services provided to clients, supporting documentation regarding the services provided to clients, number of countries where it operates, list of countries where it operates, number of employees, number of clients served, part of a business group or conglomerate.
  3. Identification of the business group or conglomerate: social denomination of the group or parent company, trade name of the group or parent company, URL, country of residence, sector in which it operates, type of client to whom services are offered, description of the services provided to clients, supporting documentation regarding the services provided to clients, number of countries where it operates, list of countries where it operates, number of employees, number of clients served.
  4. Interest: executive summary of the Business Plan to be implemented in El Salvador over the next 3 years; Flowchart of the activities involving its business model, making a clear distinction of the activities carried out by: the company in El Salvador, the company in another country, another company in El Salvador, another company in another country; services it is interested in providing within the Digital Assets Market.
  5. Selection of the digital asset services you wish to perform.
  6. Selection of the type of issuances you wish to perform.
  7. Documentation to be added:
    • Letter of application;
    • Copy of the public deed of incorporation including proof of registration in the Commercial Registry;
    • Copy of the company registration including proof of registration in the Commercial Registry; Copy of the company’s tax identification number;
    • Shareholder roster certification;
    • Certification of the identity of ultimate beneficiaries;
    • Copy of the Unique Identity Document and Tax Identification Number (if applicable) of shareholders and ultimate beneficiaries holding more than 10% of the share ownership;
    • Copy of the Management Board or Board of Directors Credential;
    • Copy of the Unique Identity Document and Tax Identification Number (if applicable) of managers, executives, and legal representatives;
    • Copy of the audited Financial Statements for the last 3 years, or those available if the company has been operating for less than 3 years;
    • Detail of its internal organizational structure;
    • Curriculum Vitae and titles proving the experience of administrators, managers, and other key personnel;
    • Detail of the international organizational structure of the company or the group to which it belongs, if applicable;
    • Certified copy of the power of representation if the person submitting the application is different from the legal representative;
  8. Specification of the technical and technological manuals already available.
  9. Statement of the veracity of the information.

Registration Process for Certifiers

Final stage prior to the evolution of documents in the pre-registration process.

CERTIFIER Documents

Comply with the requirements of Art. 27 in relation to Art. 7 of the RPSAD. LEAD

1.

Complete Form - Submission

The interested party must submit the previously mentioned documentation in digital and physical format at the CNAD offices.

Evaluation of the Application

CNAD will have a maximum period of 20 business days to evaluate them and issue a favorable or unfavorable resolution; or to notify the entity, if the application is incomplete, so that within 10 business days, the missing information and documentation are completed.

2.
3.

Favorable or Unfavorable Resolution

  • Unfavorable resolution: The PSAD has the option to resubmit its registration request.
  • Favorable resolution: Payment of the initial registration fee ($5,475) within 10 days from the notification of the resolution.

Granting of Registration Seat

CNAD will issue a registration certificate and authorization to operate as a Digital Asset Service Provider

4.
5.

Favorable or Unfavorable Resolution

The PSAD and/or Certifier will enjoy the tax benefits established by Article 36 of the LEAD Law from the notification of the definitive registration number.

Notification to UIF

Finally, the Commission will notify the Financial Investigation Unit of the registration of the new Digital Asset Service Provider.

6.

Procedure for Registration of Certifiers

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