SCHEDULE 1: APPLICATION FEES PAYABLE TO THE AFSA FOR REGULATED ACTIVITIES
1.1 Application fees for applying for Licence to carry on Regulated Activities
Application fees are determined by the activities the Authorised Firm conducts or intends to conduct, as set out below:
|
Application fee by activities |
Fee (USD) |
|
Operating a Representative Office |
4 200 |
|
Managing a Collective Investment Scheme |
7 000 – in relation to Exempt Fund 10 000 – in relation to Non-Exempt Fund |
|
Arranging Custody |
7 000 |
|
Providing Fund Administration |
7 000 |
|
Advising on Investments |
7 000 |
|
Arranging Deals in Investments |
7 000 |
|
Insurance Intermediation |
7 000 |
|
Managing Investments |
7 000 |
|
Providing Custody |
7 000 |
|
Providing Trust Services |
7 000 |
|
Acting as the Trustee of a Fund |
7 000 |
|
Dealing in Investments as Agent |
14 000 |
|
Dealing in Investments as Principal |
14 000 |
|
Managing a Restricted Profit Sharing Investment Account |
14 000 |
|
Islamic Banking Business |
21 000 |
|
Providing Islamic Financing |
14 000 |
|
Accepting Deposits |
21 000 |
|
Providing Credit |
14 000 |
|
Advising on a Credit Facility |
7 000 |
|
Arranging a Credit Facility |
7 000 |
|
Providing Money Services |
14 000 |
|
Insurance Business |
14 000 |
|
Takaful Business |
14 000 |
|
Captive Insurance Business through a Protected Cell Company |
7 000 plus 1 000 for each cell |
|
Captive Insurance Business other than through a Protected Cell Company |
7 000 |
|
Captive Takaful Business through a Protected Cell Company |
7 000 plus 1 000 for each cell |
|
Captive Takaful Business other than through a Protected Cell Company |
7 000 |
|
Insurance Management |
10 000 |
|
Opening and Operating Bank Accounts |
7 000 |
|
Operation of a Payment System |
10 000 |
|
Operating a Multilateral Trading Facility |
10 000 |
|
Operating an Organised Trading Facility |
10 000 |
|
Operating a Digital Asset Trading Facility |
98 000 |
|
Providing Credit Rating Services |
5 000 |
1.1-1 Application fee in relation to Digital Assets
An applicant seeking to conduct Regulated Activities in relation to Digital Assets, except for the Regulated Activity of Operating a Digital Asset Trading Facility, must pay to the AFSA an additional application fee in the amount of 2 800 USD.
1.2 Application fees for modification and withdrawal of a Licence or Approved Individual's registration
|
Application to Modify |
Fee (USD)* |
|
Modification of an Authorised Firm's Licence |
(a) An Authorised Firm applying to the AFSA to change the scope of its Licence and seeking to carry on one new Regulated or Market Activity, must pay to the AFSA an application fee equal to 100% of the application fee for that new Regulated or Market Activity specified in table 1.1 of Schedule 1 or table 2.1 of Schedule 2 of FEES. (b) An Authorised Firm applying to the AFSA to change the scope of its Licence and seeking to carry on more than one new Regulated and/or Market Activity, must pay to the AFSA an application fee equal to 100% of the highest of the application fees for new activities and 50% of the application fee in respect of each additional new activity specified in table 1.1 of Schedule 1 or table 2.1 of Schedule 2 of FEES. (c) An Authorised Firm applying to the AFSA to change the scope of its Licence and seeking to carry on the Regulated Activities in respect of Digital Assets must pay to the AFSA an additional application fee specified in 1.1-1 of Schedule 1 of FEES above in full. (d) An Authorised Firm applying to the AFSA to change the scope of its Licence, where the change is within an existing Regulated or Market Activity, or to vary or withdraw a condition or restriction on its Licence, must pay to the AFSA an application fee equal to 50% of the application fee for that Regulated or Market Activity specified in table 1.1 of Schedule 1 or table 2.1 of Schedule 2 of FEES. |
|
Modification of an Approved Individual's registration |
500 |
|
Application to Withdraw |
Fee (USD) |
|
Withdrawal of an Authorised Firm's Licence |
At present, the AFSA does not intend to charge an application fee for these activities. Any such application fee shall be determined by the AFSA at a later date. |
|
Withdrawal of an Approved Individual's registration |
Notes
Fees for initial application—firm to conduct one or more Regulated Activities, or Regulated and Market Activities
An applicant seeking authorisation to conduct one or more Regulated Activities, or Regulated and Market Activities, specified in the fees tables must pay:
(a) the fee specified for the Regulated Activity in the table above (or, if the applicant intends to carry on more than one Regulated Activity, or Regulated and Market Activities, the highest fee for any one of those activities and 50% of the fee for each additional activity specified in the corresponding fees tables);
(b) the fee, for each individual for whom Approved Individual status is sought, specified below; and
(c) if the applicant intends to carry on Regulated Activities in relation to Digital Assets, the fee specified in 1.1-1 above.
Application fee for Approval of Individuals
An Authorised Firm submitting applications on behalf of individuals seeking Approved Individual status must pay an application fee in the amount of 500 USD in respect of each Approved Individual application.
Application fee for change of control
An Authorised Firm applying for change of control must pay to the AFSA an application fee in the amount of 1 400 USD.