Circular no. IFSCA-DTFA/1/2026; Dated: 02.03.2026
The International Financial Services Centres Authority (IFSCA) has specified the fee structure applicable to entities undertaking or intending to undertake permissible activities in the International Financial Services Centre (IFSC). The framework also covers fees payable by persons seeking clarification under the Informal Guidance Scheme.
1. Application Fees for Licences, Registrations and Authorisations
Every application submitted to IFSCA for obtaining a licence, registration, recognition or authorisation will be treated as a separate application. Accordingly:
- Each application will attract separate specified application fees.
- The applicable fee must be remitted to the Authority’s designated bank account.
This ensures that each regulatory request is processed independently.
2. Payment of Fees After Provisional or In-Principle Approval
Where the Authority communicates a decision to grant provisional approval or in-principle approval, the applicant must:
- Pay the applicable licence, registration, recognition or authorisation fee within 15 days from the date of intimation.
- The payment must be completed before the final grant of the licence, registration, recognition or authorisation.
3. Non-Refund of Fees After Approval Stage
If the Authority subsequently decides not to grant the licence, registration, recognition or authorisation after issuing provisional or in-principle approval, the fees already paid by the applicant will not be refunded.
This provision ensures administrative finality and covers the costs incurred during the evaluation process.
4. Consequences of Non-Payment of Fees
If the applicant fails to pay the requisite fee within the specified timeline, it will be presumed that the applicant does not wish to proceed with the licence, registration, recognition or authorisation.
In such cases, the Authority may, at its discretion:
- Discontinue the approval process, and
- Close the application.
5. Conditional Recurring Fees
Once an entity obtains a licence, registration, recognition or authorisation, it will be required to pay conditional recurring fees, which may be based on parameters such as turnover or other prescribed criteria.
These recurring fees must be paid in two instalments as per the prescribed framework.
6. Penalty for Delay in Submission of Regulatory Reports
Where a regulated entity fails to submit complete periodic regulatory or supervisory reports or returns within the specified timeline, it must pay:
- USD 100 for each instance of delay,
- For every month or part thereof during which the report or return remains unsubmitted.
This provision encourages timely regulatory reporting and compliance.
7. Fees Under the Informal Guidance Scheme
Applicants seeking clarification under the IFSCA Informal Guidance Scheme must pay a fee of USD 1,000 per application.
If the Authority determines that the application is not maintainable under the scheme:
- USD 250 (25% of the fee) will be retained as a processing fee, and
- USD 750 (75% of the fee) will be refunded to the applicant.
8. Objective of the Fee Framework
The fee structure aims to:
- Ensure transparency and consistency in regulatory charges
- Streamline the licensing and approval process in IFSC
- Promote timely compliance with regulatory reporting requirements
- Provide a structured mechanism for obtaining regulatory guidance
The framework supports efficient regulatory administration while facilitating the growth and governance of entities operating in IFSC.
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