The Gibraltar Financial Services Commission (GFSC) charges two types of fees. As part of applications, there are applications fees charged subject to the type of permission sought and its respective fee block. Once applicants have been authorised as a Regulated Entity, there will also be an applicable annual fee.
Details on the payment methods can be requested from the Accounts team.
All fees can be found here.
The application fee must accompany once an application has been submitted. Please note, if you are applying for more than one permission, aggregate fees will apply.
The annual fee is not payable until an application has been approved.
Under the GFSC’s annual fee methodology, a Regulated Entity will pay a minimum base fee which is dependent on the set fee block assigned to a regulated sector.
In addition to the base fee, Regulated Entities are also required to pay an additional amount that will be calculated based upon a range of factors including activity and income. To calculate the additional part of an annual fee, the GFSC will need to review audited financial data and/or supervisory returns.
At licensing stage, we will not yet have the requisite audited financial data or supervisory returns available for the GFSC to calculate the additional part of an annual fee. On this basis, the GFSC will only require an applicant to pay the base fee at this stage and, towards the end of the GFSC’s financial year end (31 March), the Regulated Entity will then be invoiced for the remainder of the annual fee which will be calculated based upon the financial data and/or supervisory returns provided up until that date.