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  • GR-10.1 GR-10.1 Annual License Fees

    • GR-10.1.1

      Investment firm licensees must pay the relevant annual license fee to the BMA, upon the issuance of their license and thereafter on 1 January each year. The annual license fee charged upon issuance of a license is charged on a pro-rata basis, proportionate to the period remaining between the issuance of the license and the end of the calendar year in question.

    • GR-10.1.2

      The annual license fee payable is as follows:

      — Category 1 investment firms: BD 4,000
      — Category 2 investment firms: BD 1,000
      — Category 3 investment firms: BD 500

    • GR-10.1.3

      The above fee structure is temporary, pending the development of an integrated license fee structure covering all BMA licensees. Such a system, which will be the subject of consultation prior to implementation, is to be finalized for implementation in January 2007. The guiding principles of the new system will be (i) to remain internationally competitive in terms of direct costs imposed on licensees; (ii) to be relatively simple and straightforward to calculate and apply; and (iii) to align more closely the level of fees charged with the scale and likely complexity of a licensee.