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Gibraltar Regulator Hikes Annual Fees

by Amanda Banks, Lowtax.net, London
13 March, 2017

Gibraltar's financial services regulator, the Gibraltar Financial Services Commission, has increased annual fees for regulated businesses.

From April 1, 2017, existing financial services firms over which the Commission has supervisory responsibility will see annual fees rise by two percent. This is less than the four percent rise announced last year by Gibraltar's Chief Minister.

There will be no increase in application fees.

Annual licenses fee invoices will be sent out to licensees on March 31, 2017, with effect from April 1, 2017. Licensees will have 28 days from the date of the invoice to pay their annual fee – that is, on or before April 28, 2017.

Licensees with multiple licenses will receive a single invoice detailing all licenses fees payable. As in the past, fees are non-refundable, must be paid in full, and cannot be settled in installments throughout the year.

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