finance
The International Financial Services Centres Authority (IFSCA) has introduced a new fee structure tailored for International Trade Finance Service (ITFS) operators and applicants aiming to establish ITFS platforms in International Financial Services Centres (IFSCs). This revised fee framework will take effect on April 1, 2025, and includes various fees categorized by the annual turnover of the ITFS platform transactions.
Effective from April 1, 2025, the fee structure encompasses applications, registration, recurring, activity-based, and processing fees. The registration fee is set at $10,000, and the recurring fees range between $3,000 and $15,000 based on the annual turnover. Additionally, a 20% fee on registration charges will be applied for any modifications to registration terms.
The structure is designed as follows:
| Sr. No. | Entities | Application Fee | Registration Fee | Recurring Fee | Activity-Based Fee | Processing Fee |
|---|---|---|---|---|---|---|
| Based on Annual Turnover | ||||||
| $10,000 | ≤ $25 million | $3,000 | 20% of registration fee (for modifications) | |||
| > $25 million to ≤ $50 million | $5,000 | |||||
| > $50 million to ≤ $100 million | $7,000 | |||||
| > $100 million to ≤ $200 million | $10,000 | |||||
| > $200 million | $15,000 |
*Note: Turnover refers to the total value of transactions processed on the ITFS platform.
This circular serves as an update to Clause 22 of the circular titled “Guidelines on Setting Up and Operation of International Trade Finance Service Platform, 2024,” issued on December 23, 2024. Furthermore, all provisions detailed in the circular dated May 17, 2023, regarding the fee structure for entities engaged in permissible activities within IFSCs continue to apply.
This circular is issued under the authority granted by Sections 12 and 13 of the IFSCA Act, 2019, aimed at developing and regulating financial products, services, and institutions within the IFSCs.