FSU Fees - Financial Services Unit (FSU)

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Cooperatives Societies S.R.O 19 of 2023

Total Value of Assets of Credit	Union Annual Licence Fee
Below $25 million	$10,000.00
$25 million and above but below $50 million	$20,000.00
$50 million and above but below $100 million	$40,000.00
$100 million and above but below $500 million	$60,000.00
$500 million and above	$100,000.00

Insurance Act 4 of 2012 Schedule 3 Registration and License Fees

Money Services Business Schedule 4 Money Services Business S.R.O. 15 Of 2023

Class of Licence	Description of Licence	Licence Fees EC$
Application	Annual License
Class A	Money Transmission	$15,000
Class B	Issuance, Sale and Redemption of Payment Instruments	$2,500
Class C	Cheque Cashing	$2,500
Class D	Currency Exchange	$2,500
Class E	Pay day advances	$15,000

Pursuant to Section 4 of the Stamp (Amendment) Act No. 17 of 2023, Stamp Duty of Two Percent (2%) of the monetary value of all outbound money transfers shall be payable to the Comptroller of Inland Revenue no later than the 20th day of the following month.
Effective January 1, 2024

Offshore Banking S.R.O. 16 Of 2023

	Incorporation Fee	Annual Fee
Onshore Only	EC$50,000	EC$50,000
Offshore Only	US$8,000	US$25,000
Joint Offshore/Onshore	US$20,000	US$20,000
General Trust	US$4,000	US$4,000
Restricted Trust	US$100	US$100
Application Fee	US$2,000	-

Virtual Asset Business Act 1 Of 2022

Application Fee	EC$10,800
Registration Fee	EC$32,400
Late Fee	EC$6,750 for late payment of the registration fee

Registered Entities

The Financial Services Unit is responsible for the registration and regulation of the following entities:

The entities not listed on the website are not authorised to do business in the Commonwealth of Dominica

Credit Union

Insurance Act 4 of 2012 Schedule 3 Registration and License Fees

1. Application Fees for Registration

2. Annual Registration Fees

Individual

3. Annual licence fees

4. (a) Registration of a pension fund plan $2,000

5. Fees for reinstatement of registration

6. Inspection of copies of records $5 per page, $25 minimum

Money Services Business Schedule 4 Money Services Business S.R.O. 15 Of 2023

Offshore Banking S.R.O. 16 Of 2023

Virtual Asset Business Act 1 Of 2022

Registered Entities