Fee structure for Finance Company/Unit

Last updated: 28 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 a one-time application fee of $1000 and a one-time 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 are provided, directing fees 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 are subject to 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, with account number 39907189884.

Payments should be made to State Bank of India, GIFT CITY, Gandhinagar Branch, Gandhinagar, Gujarat – 382355. The IFSC code is SBIN0060228 and the SWIFT code is SBININBB255.

This circular is addressed to all Finance Companies and Finance Units operating in the International Financial Services Centre (IFSC).

Guest

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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