Fees

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