Fee structure for Finance Company/Unit

Last updated: 27 April 2021

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This circular outlines the new fee structure for Finance Companies and Finance Units operating within the International Financial Services Centre (IFSC). It details the one-time application fee of $1000 and registration fee of $12,500 for new entities. Additionally, an annual fee of $12,500 applies from the second year onwards for all registered entities. Payment instructions for these fees are provided, directing them to the IFSCA FUND 2 account at the State Bank of India, GIFT CITY branch.

International Financial Services Centres Authority

CIRCULAR

F. No. 172/IFSCA/Finance Company/Unit Regulations/2021-22/1

April 26, 2021

To,

All Finance Company / Finance Unit in the International Financial Services Centre (IFSC)

Dear Sir/Madam,

Sub: Fee structure for Finance Company/Unit

1. In exercise of the powers conferred by Section 12 of the International Financial Services Centres Authority Act, 2019, the fee structure for Finance Company/ Units is as follows:

a) Application fee: $1000 for new entities (one time)

b) Registration fee: $12,500 for new entities (one time)

c) Annual fee: $12,500 for all registered Finance Company/Finance Unit (second year onwards)

Account Details for Payment of Fees:

2.The fees shall be credited to the following account of IFSCA: Account Name: IFSCA FUND 2

Account Number: 39907189884
IFSC Code: SBIN0060228
SWIFT Code: SBININBB255
Bank and branch details:

3. State Bank of India, GIFT CITY, Gandhinagar Branch, Gandhinagar, Gujarat – 382355

Yours faithfully

(R. Kumar)
Head, Banking Division
rag.kumar@ifsca.gov.in

FAQ :

New entities will incur a one-time application fee of $1000 and a one-time registration fee of $12,500.

The annual fee for all registered Finance Companies/Units is $12,500, applicable from the second year onwards.

Fees should be credited to the IFSCA FUND 2 account. The account number is 39907189884, with IFSC Code SBIN0060228 and SWIFT Code SBININBB255.

Payments should be made to the State Bank of India, GIFT CITY, Gandhinagar Branch, Gandhinagar, Gujarat – 382355.

The circular was issued by the International Financial Services Centres Authority (IFSCA) and signed by R. Kumar, Head of the Banking Division.

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Notification No : F. No. 172/IFSCA/Finance Company/Unit Regulations/2021-22/1
Published in Miscellaneous
Source : https://ifsca.gov.in/Viewer/Index/166

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