• GENE Schedule 4 GENE Schedule 4 Fees table

    Editorial changes (as from 1st January 2016).

    • GENE Part A4.1 GENE Part A4.1 The fees table

      Editorial changes (as from 1st January 2016).

      • GENE A4.1.1 Base fees

        Base fees are determined by the regulated activities the authorised firm conducts or intends to conduct, as set out below:

        Application fee by regulated activities (US $)
        Deposit taking 40,000
        Providing credit facilities 40,000
        Effecting a contract of insurance or carrying out a contract of insurance (otherwise than as a QFC captive insurer) 40,000
        Effecting a contract of insurance or carrying out a contract of insurance as a QFC captive insurer that is not a protected cell company 5,000
        Effecting a contract of insurance or carrying out a contract of insurance as a QFC captive insurer that is a protected cell company 8,000, plus 1,000 for each cell (within the meaning given by CAPI)
        Dealing in investments (as principal) 25,000
        Dealing in investments (as agent), except if carried on only for the purpose of insurance mediation business or captive insurance management 10,000
        Operating collective investment schemes 10,000
        Managing investments, except if carried on only for the purpose of insurance mediation business or captive insurance management 10,000
        Arranging deals in investments, except if carried on only for the purpose of insurance mediation business or captive insurance management 10,000
        Arranging credit facilities 10,000
        Advising on investments, except if carried on only for the purpose of insurance mediation business or captive insurance management 10,000
        Providing custody services 10,000
        Arranging the provision of custody services 10,000
        Dealing in investments (as agent), managing investments, arranging deals in investments, advising on investments or assisting in the administration or performance of contracts of insurance, if carried on only for the purpose of insurance mediation business or captive insurance management 1,000

        Amended by RM/2018-4 (as from 1st August 2018).

    • GENE Part A4.2 GENE Part A4.2 Application fees

      Editorial changes (as from 1st January 2016).

      • GENE A4.2.1 GENE A4.2.1

        (1) An applicant seeking authorisation to conduct 1 or more regulated activities specified in the fees table must pay:
        (a) the fee specified for the regulated activity in the table (or, if the applicant intends to carry on more than 1 regulated activity, the highest fee specified in the table for any of those regulated activities); and
        (b) US$500 for each individual for whom approved individual status is sought.
        (2) However, if an individual for whom approved individual status is sought is from a captive insurance manager (within the meaning given by CAPI, rule 1.2.7), and is al approved to carry on the relevant controlled function, no additional fee is payable for his or her approval.
        Amended by RM/2018-4 (as from 1st August 2018).

        • GENE 4.2.1 Guidance

          1. These fees relate only to the applicant's initial application.
          2. No separate application fee is be payable for registration with the CRO or for the grant of a licence by the QFC Authority.
          Amended by QFCRA RM/2011-2 (as from 1st July 2011).

      • GENE A4.2.2 Application fee for approval of individuals

        An authorised firm submitting applications on behalf of additional individuals seeking approved individual status must pay an application fee of $500 in respect of each additional approved individual application.

        Amended by QFCRA RM/2015-3 (as from 1st January 2016).

    • GENE Part A4.3 GENE Part A4.3 Applications to conduct additional regulated activities

      Editorial changes (as from 1st January 2016).

      • GENE A4.3.1 Fees for application — firm to conduct additional regulated activities

        An authorised firm seeking authorisation to conduct additional regulated activities specified must pay a fee equal to the difference between:

        (a) the basic fee which would be payable under GENE rule A4.2.1(1)(a) if it were an applicant firm seeking authorisation to conduct the regulated activities in the terms of the authorisation sought; and
        (b) the basic fee which would be payable under GENE rule A4.2.1(1)(a) if it were an applicant firm seeking authorisation to conduct the regulated activities in the terms of the authorisation currently held.
        Amended by QFCRA RM/2015-3 and Editorial changes (as from 1st January 2016).

    • GENE Part A4.4 GENE Part A4.4 Other fees

      Amended by RM/2018-4 (as from 1st August 2018).

      • GENE A4.4.1 Initial annual fee

        (1) An authorised firm must pay to the regulatory authority an initial annual fee for the initial period of regulation after the grant of authorised firm status.
        (2) The initial annual fee is calculated as the fee which was payable at the time of application for authorisation, pro-rated over the whole months remaining between the date of authorisation and the end of the year.
        Amended by QFCRA RM/2015-3 (as from 1st January 2016).

      • GENE A4.4.2 Subsequent annual fees

        (1) An authorised firm must pay to the regulatory authority a standard annual fee for any period of regulation after the period described in GENE rule A4.4.1.
        (2) The standard annual fee is:
        (a) the highest of the fees specified in the fees table corresponding to the regulated activities which the authorised firm is authorised to carry on; plus
        (b) US$500 for each approved individual employed by the authorised firm at 30 September in the previous year, or on the date of the grant of authorisation, whichever is the later.
        Amended by QFCRA RM/2015-3 and Editorial changes (as from 1st January 2016).

      • GENE A4.4.3 Fee for extracts from Regulatory Authority registers

        In accordance with GENE rule 10.6.1, persons must upon application for extracts of information from the registers of public information maintained by the regulatory authority, whether relating to either an authorised firm or an approved individual, pay to the regulatory authority the prescribed fee of US$50 for each specific information request.

        Amended by QFCRA RM/2015-3 (as from 1st January 2016).

      • Initial Annual Fee [Deleted]

        Deleted by QFCRA RM/2015-3 (as from 1st January 2016).

      • Subsequent Annual Fees [Deleted]

        Deleted by QFCRA RM/2015-3 (as from 1st January 2016).

      • Provision of Extracts of Information from the Registers of Public Information [Deleted]

        Deleted by QFCRA RM/2015-3 (as from 1st January 2016).