Trust Companies
Trustees Fee Schedule
The full details of the Trustees Fees can be found in Schedule 2 of the Trust Companies Regulations 2016, but for ease of reference a summary is shown below.
Application Fees
- Unrestricted Trust Company $3,000
- Restricted Trust Company$1,000
Annual Licence Fee
On or before the 31st day of March in each year after the grant of the license and during its subsistence:
- Unrestricted Licence
|
Small trust companies (gross revenue less than $2,000,000) |
$10,000 |
|
Medium size trust companies (gross revenue greater than $2,000,000 but less than $5,000,000) |
$15,000 |
|
Large trust companies (gross revenue equal to or greater than $5,000,000) |
$20,000 |
- Restricted Trust Company $1,500
*If the applicant is a wholly owned subsidiary of a licenced trust company, the fee payable on application shall be one-fifth of the fee otherwise payable. If a licenced trustee is a wholly owned subsidiary of another licenced trustee, the annual fee, including the proportion payable on grant of the licence, shall be one-tenth of the fee otherwise payable.
*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.