Fees for persons licensed under the Protection of Investors (Bailiwick of Guernsey) Law, 2020 with effect from 1 January 2026
Full details of the revised fees payable under the Protection of Investors (Bailiwick of Guernsey) Law, 2020 (and other legislation administered by the Commission) appear in The Financial Services Commission (Fees and Administrative Penalties) Regulations, 2025, but for ease of reference a summary is shown in the table below.
Regulatory Fees with effect from 1 January 2026
Open-ended Collective Investment Schemes (excepting Private Investment Funds)
| Annual Fees | |
|---|---|
| Scheme | £4,400 |
| Per additional class | £305 |
| Application Fees | |
|---|---|
| Scheme | £4,400 |
| Fast track (additional application fee £580) | £4,980 |
| New class of umbrella/multi class scheme | £995 |
| Additional Fee for Additional Elements to Fast Track Funds | £580 above normal fee |
Closed-ended Collective Investment Schemes (excepting Private Investment Funds)
| Authorised Closed-ended Collective Investment Schemes | |
|---|---|
| Annual fee | £4,400 |
| Application fee | £4,400 |
| Fast track (additional application fee £580) | £4,980 |
| Application Fee for additional elements to an authorised closed-ended Basket Fund | £580 |
| Registered Closed-ended Collective Investment Schemes | |
|---|---|
| Annual fee | £4,400 |
| Application fee | £4,980 |
| Application Fee for additional elements to a registered closed-ended Basket Fund | £580 |
Private Investment Funds
| Annual fee | £1,000 |
| Application fee | £1,500 |
"De-QIFing" (QIF = Qualified Investor Fund)
| "De-QIFing" (QIF = Qualified Investor Fund) | |
|---|---|
| Application fee | £3,550 |
"De-PIFing" (PIF = Private Investment Fund)
| "De-PIFing" (PIF = Private Investment Fund) | |
|---|---|
| Application fee | £3,550 |
Licensees
| Annual Fees | |
|---|---|
| Annual fees for Designated Administrators are determined by the licensee's audited gross turnover | |
| Turnover band (annual): | Fee |
| Under £1,500,000 | 4,965 |
| £1,500,000 to £2,999,999.99 | 8,560 |
| £3,000,000 to £5,999,999.99 | 12,115 |
| £6,000,000 to £11,999,999.99 | 19,000 |
| £12,000,000 to 17,999,999.99 | 26,000 |
| £18,000,000 and above | 36,000 |
| Annual fees for Designated Trustees or Custodians, Brokers and Licensees with an authorised financial advisor (excluding bank licensees) are determined by the licensee's audited gross turnover | |
| Turnover band (annual): | Fee |
| Under £1,500,000 | £4,580 |
| £1,500,000 to £2,999,999.99 | £7,220 |
| £3,000,000 to £5,999,999.99 | £9,730 |
| £6,000,000 to £11,999,999.99 | £12,560 |
| £12,000,000 to 17,999,999.99 | 17,500 |
| £18,000,000 and above | £26,000 |
| Principal Manager of authorised or registered open-ended collective investment schemes | £2,290 |
| Manager of authorised or registered closed-ended collective investment schemes | £2,290 |
| Manager of overseas collective investment schemes | £4,580 |
| Other Licensees | £4,580 |
| Persons licensed to carry on the restricted activity of operating an investment exchange | £155,535 |
| Application Fee | |
|---|---|
| Investment Exchange Operator | £31,170 |
| Other Licensees | £3,200 |
Change of Controller Fee
| Change of Controller Fee | |
|---|---|
| Application fee | £2,760 |
Extension of Licence
| Extension of Licence | |
|---|---|
| Application fee | £1,565 |
Form EX Notification
| Form EX Notification | |
|---|---|
| Annual Fee | £765 |
| Application Fee | £1,525 |
Amalgamation of a company or migration out of a company
| The Amalgamation and Migration of Companies | |
|---|---|
|
An application for the Commission's consent for the amalgamation of two or more bodies corporate pursuant to the provisions of the Companies (Guernsey) Law, 2008 |
£3,065 |
| An application to the Commission for the consent of the Commission for the removal of a supervised company from the Register of Companies for the purposes of becoming registered as a company under the law of a district, territory, or place outside Guernsey in accordance with the provisions of the Companies (Guernsey) Law, 2008 | £3,065 |
Migration out of a Limited Partnership
| Migration out of a Limited Partnership | |
|---|---|
| An application to the Commission for the consent of the Commission for the removal of a supervised limited partnership from the Register of Limited Partnerships for the purposes of becoming registered as a limited partnership under the Law of a district, territory, or place outside Guernsey in accordance with the provisions of the Limited Partnerships (Guernsey) (Migration) Regulations, 2020. | £2,800 |
Incorporation consent for an unregulated PCC / ICC
The following fee is payable where a request is made under The Companies (Guernsey) Law, 2008 for consent to incorporate a PCC or ICC structure that will not be regulated and / or does not form part of a licence application.
| An application to the Commission for consent to incorporate a PCC / ICC that will not become a regulated entity. | £580 |
Registration of a Non-Application Prospectus
The following fee is payable where a prospectus is being registered under The Prospectus Rules and Guidance, 2021 for a prospectus that is not connected to a registered fund application.
| Registration of a prospectus for an offering not connected to a wider application for fund registration. | £580 |
Administrative Financial Penalties
LATE FILING PENALTIES
Where a licensee files a relevant document (such as its annual return and accounts) after its specified deadline date, a late filing penalty may apply. This will be calculated using the table below. Each subsequent month (or part of a month) that the relevant fee has not been paid will result in a further incremental penalty accruing.
| Late Filing Penalty | Penalty Increments |
|---|---|
| First Month | £125 |
| Second Month | £250 |
| Third Month | £375 |
| Each Subsequent Month | £375 |
The Commission may grant deadline extensions under extenuating circumstances. Where the Commission has done this, that date will be taken as the revised deadline date for the purposes of calculating any late filing penalty.
LATE PAYMENT PENALTIES
Where a licensee pays its annual fee subsequent to the due date, a penalty may apply. For the annual fee levied each calendar year, the due date is 31 January. For pro-rated annual fees, this would be 30 days after the fee became payable. In both cases, the due date will be included on the invoice.
The fee will be calculated using the table below. Each subsequent month (or part of a month) that the relevant fee has not been paid will result in a further incremental penalty accruing.
| Late Payment Penalty | Penalty Increments |
|---|---|
| First Month | £125 |
| Second Month | £250 |
| Third Month | £375 |
| Each Subsequent Month | £375 |
INACCURATE FILING PENALTIES
As consulted on in 2022, where a licensee has submitted a relevant document that is inaccurate a penalty will be calculated as per the table below.
|
Inaccurate Filing Penalty |
Error Identified by Firm | Error Identified by the Commission |
|---|---|---|
| On identification of the error and return of the submission for correction by the firm | £125 | £500 |
| Each subsequent month taken to correct the error | £125 | £500 |
To ensure the regime is proportionate, inaccurate filing penalties will apply on a case-by-case basis, which looks to ensure such penalties are not issued for small discrepancies or where guidance is unclear.