Corrigendum to Fee Structure for Entities in IFSC
IFSCA circular IFSCA-DTFA/2/2026 · 13 Mar 2026
Official title
Corrigendum to the Fee Circular dated March 02, 2026
IFSCA circular IFSCA-DTFA/2/2026 · 13 Mar 2026
Official title
Corrigendum to the Fee Circular dated March 02, 2026
Summary
Check the official recordThe International Financial Services Centres Authority (IFSCA) has issued a corrigendum to its March 02, 2026, circular regarding the fee structure for regulated entities and applicants. The update replaces the phrase 'date of issuance' with 'date of commencement' in clause 15.1, which governs the supersession of previous circulars. The circular reiterates that the fee structure applies for the financial year 2026-27 and onwards. Regulated entities and applicants must adhere to the specified fee categories, including application, registration, recurring, and activity-based fees, payable in USD or INR as permitted. The document provides detailed schedules for various entity types, including banking, capital markets, insurance, and fintech, and outlines procedures for payment, late fees, and refunds.
What you must do
Key dates
Who is affected
Thresholds
Exceptions
If you do not comply
Page 1 of 2
CIRCULAR
IFSCA-DTFA/2/2026 March 13, 2026
To
All Regulated Entities of International Financial Services Centres Authority (‘IFSCA’)
All entities seeking licence, registration, recognition or authorisation from International Financial Services Centres Authority (‘Authority’)
All persons seeking guidance under the International Financial Services Centres Authority (Informal Guidance) Scheme, 2024 (‘Informal Guidance Scheme’)
Dear Sir/Madam,
Subject: Corrigendum to the circular captioned “Fee structure for the entities undertaking or intending to undertake permissible activities in IFSC or persons seeking guidance under the Informal Guidance Scheme”
Reference is drawn to the circular captioned “Fee structure for the entities undertaking or intending to undertake permissible activities in IFSC or persons seeking guidance under the Informal Guidance Scheme” (hereinafter referred to as the “Fee Circular”), dated March 02, 2026, issued by the Authority.
With reference to the above, clarifications have been sought from the Authority about the applicability of the Fee circular. In order to bring clarity on this matter, the Authority has decided that the phrase ‘date of issuance’ in clause 15.1 of the Fee circular shall be replaced with the phrase ‘date of commencement’. Hence, clause 15.1 of the Fee circular shall now be read as under:
“On and from the date of commencement of this circular, the following circulars shall stand superseded:
a. Circular IFSCA-DTFA/1/2025 dated April 08, 2025; b. Circular IFSCA-DTFA/2/2025 dated April 23, 2025; c. Circular IFSCA/CMD/DMIIT/KRA/2025-26/1 dated June 13, 2025; and d. Circular F. No. IFSCA-AIF/104/2024-Capital Markets/08092025 dated September 08, 2025.”
Page 2 of 2
It is reiterated that the Fee Circular dated March 02, 2026, shall be applicable for FY 2026-27 and onwards.
This circular is issued in exercise of the powers conferred by Section 12 and 13 of the International Financial Services Centres Authority Act, 2019, to develop and regulate the financial products, financial services and financial institutions in the International Financial Services Centres (IFSCs).
A copy of this circular is available on the website of the International Financial Services Centres Authority at www.ifsca.gov.in .
Yours faithfully,
Rakesh Kumar Deputy General Manager Department of Treasury, Finance & Accounts Email: rakesh.kumar@ifsca.gov.in
Page 1 of 28
Annexure-A
CIRCULAR
IFSCA-DTFA/1/2026 March 02, 2026 (Updated as on March 13, 2026)
To
All Regulated Entities of International Financial Services Centres Authority (‘IFSCA’)
All entities seeking licence, registration, recognition or authorisation from International Financial Services Centres Authority (‘Authority’)
All persons seeking guidance under the International Financial Services Centres Authority (Informal Guidance) Scheme, 2024 (‘Informal Guidance Scheme’)
Dear Sir/Madam,
Subject: Fee structure for the entities undertaking or intending to undertake permissible activities in IFSC or persons seeking guidance under the Informal Guidance Scheme
1. CATEGORIES OF FEES/CHARGES
1.1. An entity seeking licence, registration, recognition or authorisation, as the case may be, from the Authority (such entity shall hereinafter be referred to as ‘applicant’), or an entity which has already been granted licence, registration, recognition or authorisation, as the case may be, by the Authority (such entity shall hereinafter be referred to as ‘Regulated Entity’), or a person seeking guidance under the Informal Guidance Scheme, shall remit the applicable fees/charges, to the designated bank account of the Authority, under the relevant categories mentioned below:
a) Application fee; b) Licence/Registration/Recognition/Authorisation fee; c) Recurring fee; d) Activity based fee; e) Processing fee; f) Interest on delay in payment of applicable fees; g) Charges for delay in submission or non-submission of reports/returns; and h) Informal Guidance fee.
Page 2 of 28
1.2. The details of applicable fees to be remitted by any applicant, Regulated Entity or any person seeking guidance under the Informal Guidance Scheme, to the designated bank account of the Authority (herein after referred to as the ‘Authority’), are provided hereinafter.
2. APPLICATION FEE
2.1. Applications seeking licence(s), registration(s), recognition(s) or authorisation(s), as the case may be, shall be made separately under the respective regulations or subsidiary instructions, except as otherwise provided.
2.2. An applicant shall pay the application fee, as specified in Schedule-I of this circular, at the time of making the application to the Authority. An application without applicable fees shall not be entertained by the Authority.
2.3. Every application by an entity seeking licence(s), registration(s), recognition(s) or authorisation(s), as the case may be, shall be treated as separate applications and shall attract separate specified application fees for each such application, as indicated at Schedule-I.
3. LICENCE/REGISTRATION/RECOGNITION/AUTHORISATION FEE
3.1. On intimation of the decision by the Authority to grant provisional or in-principle approval, where applicable, the applicant shall, within 15 days of such intimation, pay the applicable fee before the grant of licence, registration, recognition or authorisation, as specified in Schedule-I.
3.2. Where the Authority subsequently decides not to grant licence, registration, recognition or authorisation to an applicant to whom a provisional/ in-principle approval was granted, the fees paid by the applicant seeking licence, registration, recognition or authorisation shall not be refunded.
3.3. Where the licence, registration, recognition or authorisation is to be granted directly (without provisional/in-principle approval), the applicant shall pay the fees and only thereafter the licence, registration, recognition or authorisation shall be granted/issued.
3.4. Where the applicant fails to pay the requisite licence, registration, recognition or authorisation fee, within the time specified as above, it shall be assumed that the applicant does not wish to obtain the licence, registration, recognition or authorisation and in such case, the Authority may at its discretion, discontinue the process and close the application.
Provided that where an applicant wishes to seek the licence, registration, recognition or authorisation after such closure, shall be required to make fresh application.
Page 3 of 28
4. RECURRING FEE – FLAT
4.1. Upon obtaining licence, registration, recognition or authorisation, a Regulated Entity shall pay flat recurring fee as specified at Schedule-I.
4.2. For the financial year in which the licence, registration, recognition or authorisation is granted, the flat recurring fee shall be calculated on a pro rata basis for every remaining month of that financial year. The Regulated Entity shall pay the applicable recurring fee within 15 days from the grant of licence, registration, recognition or authorisation. For the purpose of calculation of the recurring fee, a part of a month shall be considered as a full month.
4.3. For the subsequent financial years, i.e., after the financial year in which the licence, registration, recognition or authorisation was granted, the flat recurring fee shall become due on 01st of April and be paid by 30th of April of such financial year to which the fee pertains. For example, the flat recurring fee for FY 2026-27 shall become due on April 01, 2026 and shall be payable by April 30, 2026.
5. RECURRING FEE – CONDITIONAL
5.1. Upon obtaining licence, registration, recognition or authorisation, the Regulated Entity shall pay the conditional recurring fee, based on turnover, etc., as specified at Schedule-I. Such conditional recurring fee shall be paid in two instalments.
Explanation – For removal of doubts, it is clarified that the Regulated Entity shall pay the conditional recurring fee in addition to the flat recurring fee, wherever applicable.