Full details of the fees payable under the Insurance Laws (and other legislation administered by the Commission) appear in the Financial Services Commission (Fees) Regulations, 2022, but for ease of reference a summary is shown in the table below.
Regulatory Fees with effect from 1 January 2023
Early Application Fees - Until 31 March 2023
These application Fees with apply to all complete applications received by 31 March 2023.
| Part II - Credit Providers | |
| Home Finance | £3,000 |
| Consumer Credit | £2,250 |
Where an applicant provides both credit in relation to home finance and consumer credit, the applicant shall pay the higher of the two fees only.
| Part II - Ancillary Service Providers | ||
| Home Finance | £1,500 | |
| Consumer Credit | less that £3,000,000 loans brokered in preceding calendar year | £500 |
|
more that £3,000,000 loans brokered in preceding calendar year |
£1,000 |
|
Where an applicant falls under more than one category, it shall pay the higher fee only.
| Part III - Financial Firm Businesses | |
| Financial Firm Business | £2,250 |
| Part III - Virtual Asset Service Provider | |
| Virtual Asset Exchange | £47,500 |
| All other Virtual Asset Service Providers | £12,500 |
| Part IV - Financial Platforms and Intermediation Businesses | |
| Financial Platform and Intermediation | £3,000 |
Application Fees - from 1 April 2023
| Part II - Credit Providers | |
| Home Finance | £6,000 |
| Consumer Credit | £4,500 |
Where an applicant provides both credit in relation to home finance and consumer credit, the applicant shall pay the higher of the two fees only.
| Part II - Ancillary Service Providers | ||
| Home Finance | £3,000 | |
| Consumer Credit | less that £3,000,000 loans brokered in preceding calendar year | £1,000 |
|
more that £3,000,000 loans brokered in preceding calendar year |
£2,000 |
|
Where an applicant falls under more than one category, it shall pay the higher fee only.
| Part III - Financial Firm Businesses | |
| Financial Firm Business | £4,500 |
| Part III - Virtual Asset Service Provider | |
| Virtual Asset Exchange | £95,000 |
| All other Virtual Asset Service Providers | £25,000 |
| Part IV - Financial Platforms and Intermediation Businesses | |
| Financial Platform and Intermediation | £3,000 |
Annual Fees
| Part II - Credit Providers | ||
| Home Finance | Value of loan book | |
| less than £100,000,000 | £6,000 | |
| equal or more than £100,000,000 | £9,000 | |
| Consumer Credit | Value of loan book | |
| less than £10,000,000 | £4,500 | |
| equal or more than £10,000,000 | £7,500 | |
Where a licensee falls under more than one category, it shall pay the higher fee only.
Where a credit provider is a licensed institution under the Banking Law, it LCF annual fee is 50% of the relevant fee, above.
| Part II - Ancillary Service Providers | ||
| Home Finance | £3,000 | |
| Consumer Credit | less that £3,000,000 loans brokered in preceding calendar year | £1,000 |
|
more that £3,000,000 loans brokered in preceding calendar year |
£2,000 |
|
Where a licensee falls under more than one category, it shall pay the higher fee only.
| Part III - Financial Firm Businesses | |
| Financial Firm Business | £4,500 |
| Part III - Virtual Asset Service Provider | |
| Virtual Asset Exchange or Stablecoin issuer/operator | £95,000 |
| All other Virtual Asset Service Providers | £25,000 |
| Part IV - Financial Platforms and Intermediation Businesses | |
| Financial Platform and Intermediation | £3,000 |
Other Application Fees
Discretionary exemption application, individual - £570
Discretionary exemption application, firm - £1,270
Variation of activities in respect of which an entity is licensed - £1,345
Notification of change of controller - £2,370