An AIFC Participant must pay the following administrative services fees to the Registrar of Companies:
Administrative Services | Fee (USD) |
online** | paper |
Processing inquiries | 20 | 40 |
Post-registration procedures | 50 | 100 |
*Fees for paper-based administrative services listed herein are applied from 1 January 2023. Before 1 January 2023, the processing inquiries fee is 20 USD, post-registration fee is 50 USD regardless of the submission method.
** Online means submission through the AIFC approved digital systems (excluding email).
SCHEDULE 6: ANNUAL SUPERVISION FEES PAYABLE TO THE AFSA
6.1 Annual supervision fees for Regulated Activities
Annual supervision fees for Regulated Activities are determined by the activities the Authorised Firm conducts as set out below:
Regulated Activities | Fee (USD)* |
Operating a Representative Office | 1 000 |
Managing a Collective Investment Scheme | 3 000 |
Arranging Custody | 3 000 |
Providing Fund Administration | 2 000 |
Advising on Investments | 1 000 |
Arranging Deals in Investments | 1 000 |
Insurance Intermediation | 1 000 |
Managing Investments | 3 000 |
Providing Custody | 3 000 |
Providing Trust Services | 2 000 |
Acting as the Trustee of a Fund | 2 000 |
Dealing in Investments as Agent | 7 000 |
Dealing in Investments as Principal | 8 000 except as a matched principal; 5 000 as a matched principal. |
Managing a Restricted Profit Sharing Investment Account | 7 000 |
Islamic Banking Business | n/a |
Providing Islamic Financing | n/a |
Accepting Deposits | 10 000 |
Providing Credit | 7 000 |
Advising on a Credit Facility | 1 000 |
Arranging a Credit Facility | 1 000 |
Providing Money Services | 3 000 |
Conducting Insurance Business | 7 000 |
Conducting Takaful Business | n/a |
Conducting Captive Insurance Business through a Protected Cell Company | 3 500 plus 700 for each cell |
Conducting Captive Insurance Business other than through a Protected Cell Company | 3 000 |
Conducting Captive Takaful Business through a Protected Cell Company | n/a |
Conducting Captive Takaful Business other than through a Protected Cell Company | n/a |
Providing Insurance Management | 1 000 |
Opening and Operating Bank Accounts | 3 000 |
Operation of a Payment System | 3 000 |
Operating a Multilateral Trading Facility | · 3 000 USD (fixed); and · trading levy of 0.0006% of the average daily trading value (variable)**. Note: AFSA will not invoice the trading levy (variable) fee unless it exceeds 500 USD |
Operating an Organised Trading Facility | · 3 000 USD (fixed); and · trading levy of 0.0006% of the average daily trading value (variable)**. Note: AFSA will not invoice the trading levy (variable) fee unless it exceeds 500 USD |
*Supervision fees prescribed herein are applied from 1 May 2022. Before 1 May 2022, these fees are not applied.
**For Operating a Multilateral and Organised Trading Facilities, fixed component of the annual supervision fees must be paid in full to the AFSA on a yearly basis on or before 1 January of every calendar year and variable component of the annual supervision fees must be paid in full to the AFSA on a quarterly basis following each quarter.
6.2 Annual supervision fees for Market Activities
Annual supervision fees for Market Activities are determined by the activities the Authorised Market Institution conducts as set out below:
Market Activities | Fee (USD)*** |
Operator of an Investment Exchange | 62 500 |
Operator of a Clearing House | 62 500 |
Operator of a Digital Asset Trading Facility | 35 000 |
Operator of a Crowdfunding Platform | 3 000 |
Operating a Private Financing Platform | 3 000 |
***Supervision fees prescribed herein are applied from 1 May 2022. Before 1 May 2022, these fees are not applied.
6.3 Annual supervision fees for Ancillary Services
Annual supervision fees for Ancillary Services are determined by the activities the Ancillary Service Provider conducts as set out below:
Ancillary Services | Fee (USD)**** |
Providing Legal Services | 1 500 |
Providing Audit Services | 2 000 |
Providing Accountancy Services | 1 500 |
Providing Consulting Services | 1 000 excluding Company service provider activity 2 000 including Company service provider activity |
Providing Credit Rating Services | 1 000 |
****Supervision fees prescribed herein are applied from 1 May 2022. Before 1 May 2022, these fees are not applied.
SCHEDULE 7: APPLICATION FEES PAYABLE TO THE AFSA IN RESPECT OF WAIVERS, MODIFICATIONS AND OTHER RELIEFS
The Chief Executive Officer of the AFSA may determine the amount of fee specified in 1.2.5 (a) and 1.2.6. (a) from time to time.
SCHEDULE 8: FINTECH LAB FEES
8.1 Pre-application fee*
A Person seeking to Test and/or Develop the FinTech Activities within the FinTech Lab must pay to the AFSA the pre-application fee in the amount of 100 USD prior to commencing any eligibility assessment.
*Pre-application fee prescribed herein is applied from 1 January 2023. Before 1 January 2023, the pre-application fee is not applied.
8.2 Application fees
Application fees payable to the AFSA by a Person seeking to Test and/or Develop the FinTech Activities within the FinTech Lab are determined by the activities the applicant conducts or intends to conduct as set out below:
Activities within the FinTech Lab | Fee (USD)** |
Regulated Activities | 10% of the application fees under table 1.1 of Schedule 1 of FEES |
Market Activities | 10% of the application fees under table 1.1 of Schedule 2 of FEES |
**Application fees prescribed herein are applied from 1 January 2023. Before 1 January 2023, the application fees are not applied.
Notes
Fees for initial application—firm to conduct one or more activities within the FinTech Lab
An applicant seeking authorisation to conduct one or more activities specified in the fees table must pay:
(a) the fee specified for the activity in the table above (or, if the applicant intends to carry on more than one activity, the highest fee specified in the table for any of those activities); and
(b) the amount of 50 USD for each individual for whom Approved Individual status is sought.
Application fee for Approval of Individuals
An applicant submitting applications on behalf of additional individuals seeking Approved Individual status must pay an application fee in the amount of 50 USD in respect of each additional Approved Individual application.
Fees for application to modify or withdraw
Approved Individual applying to the AFSA to change the scope of his/her Approved Individual status, to have a condition or restriction varied or withdrawn must pay the fee in the amount of 50 USD.
8.3 Migration fees to full authorisation
Migration fees payable to the AFSA by FinTech Lab Participants are determined by the activities the FinTech Lab Participant conducts as set out below:
Applications | Fee (USD)*** |
Regulated Activities | A migration fee equal to the difference between: (a) the application fee which would be payable under table 1.1 of Schedule 1 of FEES if it were an applicant for a full Licence; and (b) the application fee under table 8.2 of Schedule 8 of FEES. |
Market Activities | A migration fee equal to the difference between: (a) the application fee which would be payable under table 1.1 of Schedule 2 of FEES if it were an applicant for a full Licence; and (b) the application fee under table 8.2 of Schedule 8 of FEES. |
Approved Individual's registration | A migration fee equal to the difference between: (a) the application fee which would be payable under Schedule 1 or 2 of FEES if it were an applicant for a full Licence; and (b) the application fee under Schedule 8 of FEES. |
***Migration fees prescribed herein are applied from 1 January 2023. Before 1 January 2023, the migration fees are not applied.
8.4 Supervision fees payable to the AFSA by FinTech Lab Participants
Supervision fees payable to the AFSA by FinTech Lab Participants are determined by the activities the FinTech Lab Participant conducts as set out below:
Activities within the FinTech Lab | Fee type | Fee (USD)**** |
Regulated Activities | Fixed | 20% of the supervision fees under table 6.1 of Schedule 6 of FEES |
Market Activities | Fixed and Variable***** | · 10% of the supervision fees under table 6.2 of Schedule 6 of FEES (fixed); and · trading levy of 0.001% of the average daily trading value (variable) Note: AFSA will not invoice the trading levy (variable) fee unless it exceeds 200 USD |
****Supervision fees prescribed herein are applied from 1 January 2023. Before 1 January 2023, the supervision fees are not applied.
*****Fixed component of the annual supervision fees must be paid in full to the AFSA on a yearly basis on or before 1 January of every calendar year and variable component of the annual supervision fees must be paid in full to the AFSA on a quarterly basis following each quarter.
SCHEDULE 9: OTHER FEES
Application to register a Non-Exempt Fund and Exempt Fund or provide notification for an Exempt Fund
A Domestic Fund Manager that intends to manage a Domestic Fund which is a Non-Exempt or Exempt Fund and a Foreign Fund Manager that intends to manage a Domestic Fund which is an Exempt Fund must pay to the AFSA the following fees:
Application types | Fee (USD)* |
Domestic Fund Manager that intends to manage a Non-Exempt Fund | 2 000 |
Domestic Fund Manager that intends to manage an Exempt Fund | 1 000 |
Foreign Fund Manager that intends to manage an Exempt Fund | 1 000 |
*Application fees prescribed herein are applied from 1 May 2022. Before 1 May 2022, these fees are not applied.
SCHEDULE 10: LATE FEES PAYABLE TO THE AFSA*
10.1 Late fees for failure to provide notification, report or return
A Person falling within FEES 7.1 must pay to the AFSA a late fee in the amount of 300 USD after the 3-business days period the contravention occurs.
If a late fee referred above is not paid in full by the due date (within 30 calendar days), the non-payment incurs a further late payment fee equal to 10% of the late fee due.
10.2 Late fees for failure to comply with direction issued by the AFSA
A Person falling within FEES 7.4 must pay to the AFSA a late fee in the amount of 300 USD after the 3-business days period the contravention occurs.
If a late fee referred above is not paid in full by the due date (within 30 calendar days), the non-payment incurs a further late payment fee equal to 10% of the late fee due.
*Late fees prescribed herein are applied from 1 May 2022. Before 1 May 2022, these late fees are not applied.