F. No. 294/IFSCA/Fee Structure for IAs and PMS/2021-22
April 15, 2021
To,
All Investment Advisers in International Financial Services Centres (IFSC)
All Portfolio Managers in IFSC
Dear Sir/Madam,
Sub: Fee structure for Investment Advisers and Portfolio Managers in IFSC
1. In exercise of the powers conferred by Section 12 of the International Financial Services Centres Authority Act, 2019, the fee structure for Investment Advisers and Portfolio Managers in IFSC is being revised as follows:
I. Investment Advisers in IFSC
2. The following fee structure shall be applicable to all Investment Advisers operating in IFSC:
i. Application Fee of USD 750;
ii. One-time Registration Fee of USD 7,500 for new registration;
iii. Fee of USD 7,500 every five years post registration for all registered entities.
II. Portfolio Managers in IFSC
3. The following fee structure shall be applicable to all Portfolio Managers operating in IFSC:
i. Application Fee of USD 1,500;
ii. One-time Registration Fee of USD 15,000 for new registration;
iii. Fee of USD 10,000 every five years post registration for all registered entities.
III. Account Details for Payment of Fees
4. The fees, as applicable, shall be credited in full amount without any deduction or charges in the following bank account:
Account Name: IFSCA FUND 2
Account Number: 39907189884
IFSC Code: SBIN0060228
SWIFT Code: SBININBB255
NOSTRO details available at:
https://www.sbi.co.in/web/nri/remittances/correspondent–bank–accounts
5. A copy of this circular is available on the website of International Financial Services Centres Authority at www.ifsca.gov.in
Yours faithfully,
Arjun Prasad
Deputy General Manager [email protected]
