Fee Structure for Entities in IFSC and Informal Guidance Scheme · IFSCA-DTFA/1/2026

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CIRCULAR

IFSCA-DTFA/1/2026 March 02, 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.

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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.

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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.

5.2. For the financial year in which the licence, registration, recognition or authorisation is granted, the conditional recurring fee shall be payable as follows:

(A). First Instalment (Advance payment of fee):

Such a fee shall be payable within 15 days of grant of licence, registration, recognition or authorisation. For the purpose of calculation of such fees, the lowest slab of fees applicable to the Regulated Entity, as specified at Schedule-I, shall be considered.

(B). Final Instalment (Balance payment of fee):

After the end of financial year, the total fees payable for such financial year shall be re-calculated based on the actual turnover of the Regulated Entity for that financial year. Accordingly, the differential amount, if any, between the fee paid in advance as per (A) above, and the fee payable based on the actual turnover, shall be paid by the Regulated Entity by 30th of April of the subsequent financial year.

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Illustration 1

A Stock Exchange which has been granted the recognition for first time on May 20, 2026, the recurring fee (conditional) shall be calculated as under:

▪ Fee applicable for lowest slab of turnover [Refer to Schedule-I of this circular] = USD 1,500 ▪ Actual Turnover achieved for FY 2026-27 (at the end of FY) = USD 20 Billion ▪ Conditional recurring fee based on actual turnover of FY 2026-27 = USD 75,000 ▪ Fee paid earlier in advance = USD 1,500 ▪ Remaining conditional recurring fee to be paid for FY 2026-27 by April 30, 2027 = USD 75,000– USD 1,500 = USD 73,500

Accordingly, the total conditional recurring fee payable for FY 2025-26 i.e. USD 75,000 shall be payable as under:

✓ USD 1,500 on or before June 04, 2026 (A); and ✓ USD 73,500 on or before April 30, 2027 (B).

5.3. For the subsequent financial years, i.e., after the financial year in which the licence, registration, recognition or authorisation was granted, the conditional recurring fee shall be payable as follows:

(I). First Instalment (Advance payment of fee):

The fee shall be calculated based on the turnover of the preceding financial year and shall be payable by 30th of April of such financial year to which the fee pertains.

(II). Final Instalment (Balance payment of fee):

After the end of financial year, the total fees payable for such financial year shall be re-calculated based on the actual turnover of the Regulated Entity for that financial year. Accordingly, the differential amount, if any, between the fee paid in advance as per (I) above, and the fee payable based on the actual turnover, shall be paid by the Regulated Entity by 30th of April of the subsequent financial year.