| Service | Fee | ||
|---|---|---|---|
| Licensing | |||
| Investment Manager (determined by assets as at December 31, immediately prior to renewal date) | 0.10% of assets payable annually | ||
| Application | |||
| Within 3 months of Commencement*(both dates inclusive) | 4 to 6 months of Commencement*(both dates inclusive) | Thereafter | |
| Registration – Trustees per Superannuation Fund or Retirement Scheme | $2500 | $2500 | $5000 |
| Licensing – Administrator or Investment Manager | $6250 | $12500 | $25000 |
| Registration – Superannuation Fund or Retirement Scheme | $15000 | $15000 | $30000 |
| Registration - Responsible officer | $2500 | $2500 | $5000 |
| Other | |||
| Each amendment to Registration & Licensing Information | $2000 | ||
| Each copy of Certificate of Registration or Licence | $1000 | ||
* Commencement means the date on which the Regulations come into operation
| Jamaican & Caricom Companies | Foreign Companies | Associate of Underwriters | |
|---|---|---|---|
| Classes of Insurance Business | Registration | ||
| Insurance Life | JMD $150000 | JMD $150000 | JMD $150000 |
| Ordinary Long Term | JMD $150000 | JMD $150000 | JMD $150000 |
| Sickness & Health | JMD $150000 | JMD $150000 | JMD $150000 |
| Liability Insurance | JMD $50000 | JMD $50000 | JMD $50000 |
| Marine, Aviation & Transport | JMD $50000 | JMD $50000 | JMD $50000 |
| Motor Vehicle Insurance | JMD $50000 | JMD $50000 | JMD $50000 |
| Pecuniary Loss Insurance | JMD $50000 | JMD $50000 | JMD $50000 |
| Accident Insurance | JMD $50000 | JMD $50000 | JMD $50000 |
| Property | JMD $50000 | JMD $50000 | JMD $50000 |
| Registration | Renewal | Other | ||
|---|---|---|---|---|
| Processing | Licensing | |||
| Individuals | ||||
| Dealers Representatives | JMD $5000 | JMD $16000 | JMD $16000 | |
| Investment Advisor Representatives | JMD $5000 | JMD $8000 | JMD $8000 | |
| Responsible Offeres | JMD $5000 | JMD $50000 | JMD $50000 | |
| Individual Dealers | JMD $5000 | JMD $500000 | JMD $500000 | |
| Individual Investment Advisor | JMD $5000 | JMD $90000 | JMD $90000 | |
| Companies | ||||
| Dealers* | JMD $5000 | Licencing fee…the greater of : i) JMD $ 500,000.00; or ii) the aggregate of - A) 5 basis points on the first JMD$ 5 billion of total assets; B) 1.5 basis points on the next JMD $ 25 billion of total assets; and C) 0.75 basis points on assets over JMD $ 30 billion. | Annual fee…the greater of : i) JMD $ 500,000.00; or ii) the aggregate of - A) 5 basis points on the first JMD$ 5 billion of total assets; B) 1.5 basis points on the next JMD $ 25 billion of total assets; and C) 0.75 basis points on assets over JMD $ 30 billion. | |
| Investments Advisors** | JMD $5000 | JMD $ 90,000.00(plus JMD $ 4,000.00 in respect of each branch) | JMD $ 90,000.00 (plus JMD $ 4,000.00 in respect of each branch) | |
| CIS | ||||
| Local | USD $1000 | USD $5000 | USD $5000 | |
| Overseas | USD $1000 | USD $5000 | USD $5000 | |
| Stock Exchanges β | 0.08% of the total value of all trading activities on the stock market for each day of the financial year of the Exchange. | |||
| Depositories β | 5% of the transaction revenue | |||
| Insurers (Commercial Paper) | N/A | N/A | Issuer fee of ( $8.00 for every $ 100,000.00 in value of commercial paper issued over a period of thirty days. | |
* In respect of branches a licensing and renewal fee of JMD$ 8,000.00 is also payable
** In respect of branches a licensing and renewal fee of JMD$ 4,000.00 is also payable
β Fees payable by a stock exchange/depository shall be an annual fee paid monthly by the last day of the month following the month for which the fee is due.
# Processing fees are non-refundable
Fees expressed in the currency of the United States of America may be paid in that currency or in the Jamaican currency equivalent at the prevailing rate of exchange at the date of payment.
Renewal fees are due on or before the anniversary of the grant of the license.
Total Assets include the off-Balance Sheet Funds Under Management of dealer companies
