License Fees
C4-1.1.31
Applicants seeking a
category 4 investment firm license must pay a non-refundable license application fee of BD 100 at the time of submitting their formal application to the CBB.Added: January 2022C4-1.1.32
Category 4 investment firms must pay a variable annual licensing fee based on 0.25% of theirrelevant operating expenses , subject to:(a) a minimum (‘floor’) of BD 750 and a maximum (‘cap’) of BD 2,000 foroperators of venture CapitalCIUs ; and(b)a minimum (‘floor’) of BD 2,000 and a maximum (‘cap’) of BD 6,000 foroperators of otherCIUs .Added: January 2022C4-1.1.33
Relevant operating expenses are defined as the total operating expenses of thelicensee concerned, as recorded in the most recent audited financial statements available, excluding the following items:(a) Training costs;(b) Charitable donations;(c) CBB fees paid; and(d) Non-executiveDirectors ’ remuneration.Added: January 2022C4-1.1.34
For the avoidance of doubt, operating expenses for the purposes of this Section, do not include items such as depreciation, provisions, interest expense, and dividends.
Added: January 2022C4-1.1.35
Category 4 investment firms must pay the relevant annual license fee to the CBB on the 1st of December of the preceding year for which the fees are due.Added: January 2022C4-1.1.36
Category 4 investment firms must complete and submit Form ALF (Annual License Fee) to the CBB, no later than 15th October of the preceding year for which the fees are due.Added: January 2022C4-1.1.37
Category 4 investment firms are subject to direct debit for the payment of the annual fee and must complete and submit to the CBB a Direct Debit Authorisation Form by 15th September available under Part B of Volume 4 (Investment Business) CBB Rulebook on the CBB Website.Added: January 2022C4-1.1.38
For new
Category 4 investment firms , their first annual license fee is payable when their license is issued by the CBB. The amount payable is the floor amount.Added: January 2022C4-1.1.39
For the first full year of operation for
category 4 investment firms , the licensee would calculate its fee as the floor amount. For subsequent years, thelicensee would submit a Form ALF by 15th October of the preceding year for which the fees are due and calculate its fee using its last audited financial statements (or alternative arrangements as agreed with CBB, should its first set of accounts cover an 18-month period).Added: January 2022C4-1.1.40
Where a license is cancelled (whether at the initiative of the firm or the CBB), no refund is paid for any months remaining in the calendar year in question.
Added: January 2022
