Licensing Fees
The following are the prescribed fees (both application fees and annual fees) in accordance with Schedule I of the Financial Services Commission (Licensing) Regulations, 2023, S.I. No. 120 of 2023.
THE FINANCIAL SERVICES COMMISSION (LICENSING) REGULATIONS 2023
Schedule 1 License Fees
| No. | Type of License | Application Fees* (USD) | First-time Fee (USD) | Annual (Renewal) Fee (USD) |
| 1 | Registered Agent | Sole Practitioner – $500.00 Legal Entity – $1,000.00 |
i. First-time License (Before/by June 30) – $2,500.00 ii. First-time License (on/after July 1) – $1,250.00 |
Annual Fees based on the Quantum of Fees Paid to the BCCAR:
|
| 2 | Accounting Services | $1,000.00 | i. First-time License (Before/by June 30) – $5,000.00 ii. First-time License (on/after July 1) – $2,500.00 |
$5,000 |
| 3 | Bill Pay Services | $1,000.00 | $5,000 | |
| 4 | Financial Advisory or Consultancy Services | $1,000.00 | $5,000 | |
| 5 | International Asset Protection Management | $1,000.00 | $5,000 | |
| 6 | Money Exchange | $1,000.00 | $5,000 | |
| 7 | Payment Processing Service | $1,000.00 | $5,000 | |
| 8 | Financial Leasing | $1,000.00 | i. First-time License (Before/by June 30) – $7,500.00 ii. First-time License (on/after July 1) – $3,750.00 |
$7,500.00 |
| 9 | Financial Intermediation Services | $1,000.00 | $7,500.00 | |
| 10 | Money Broking | $1,000.00 | $7,500.00 | |
| 11 | Mortgage Lending | $1,000.00 | i. First-time License (Before/by June 30) – $10,000.00 ii. First-time License (on/after July 1) – $5,000.00 |
$10,000.00 |
| 12 | Safe Custody Services | $1,000.00 | $10,000.00 | |
| 13 | Trading in Commodity-based and Other Financial Instruments. | $1,000.00 | $25,000.00 |
Note that Application Fees are Non-Refundable.