Firms under an obligation to register must submit the Registration form together with the registration fee.
In order to assist firms the Commission has prepared the following summary of fees in general terms payable by prescribed businesses in respect of the AML/CFT framework for such businesses.
A pro-rata registration fee is payable based on the registration fee calculated as shown below divided by 12 and multiplied by the number of calendar months (including the month in which the submission is made) between the submission of the firm's application for registration and the end of the year inclusive.
The number of staff is the total number of full time (or full time equivalent) members of staff employed by the firm and includes executive directors and partners.
The above fees are reduced by half where the firm holds or is deemed to hold a licence, consent, registration, permission or authorisation from the Commission under any of the regulatory Laws as defined in section 24 of the Financial Services Commission (Bailiwick of Guernsey) Law, 1987.
The above fees are also reduced by half where two or more businesses that are part of the same group business will be registered as prescribed businesses.
Annual fees are not payable by a firm in or for the same calendar year in which it is registered. The annual fee will be calculated on the same basis as in the table above taking into account the number of full time and full time equivalent staff and the relevant reductions.