Banking Fee Schedule

The full details of the Banking Fees can be found in the Banking (Amendment) Regulations 2009, but for ease of reference a summary is shown in the table below.

Fees on the application of a Licence

Upon the application for a National Banking Licence only $ 15,000
Upon the application for an Overseas Banking Licence only $ 10,000
Upon the simultaneous application by the same applicant of both a National Banking Licence and an Overseas Banking Licence, in lieu of the above fees $ 25,000

Fees on the renewal of a Licence

On or before the 31st day of March in each year after the grant of a National Banking Licence only and during its subsistence $ 22,500
On or before the 31st day of March in each year after the grant of an Overseas Banking Licence only and during its subsistence $ 17,500
On or before the 31st day of March in each year after the grant, simultaneous or otherwise, to the same applicant of both a National Banking Licence and an Overseas Banking Licence and during the subsistence of both licences, in lieu of the above fees $ 40,000

Provided that when a licence is first granted, the annual fee payable for the initial year of the company's operations shall be the relevant annual fee indicated above, pro-rated from the month in which the licence is granted to the following 31st March.