Application and Registration Fees for a Credit Union
|Total Assets||Application Fee (Non-refundable)||Annual Registration Fee|
|Less than $20 000 000||$3,500.00||$5,000.00|
|Between $20 000 000-$40 000 000||$3,500.00||$7,500.00|
|Greater than $40 000 000||$3,500.00||$10,000.00|
FND Co-operative Credit Union
Nevis Co-operative Credit Union
Police Co-operative Credit Union
St. Kitts Co-operative Credit Union
Money Services Business means the business of providing as a primary service any of the following: transmission of money or monetary value in any form; cheque cashing; currency exchange; the issuance, sale and redemption of payment instruments; any other services the Minister may specify by notice published in the gazette; or the business of operating as an agent or franchise holder.
The several classes of licence issued under the Money Services Act, No. 26 of 2008, shall authorize the holders to carry on money services business as specified –
- CLASS A licence permits the holder to carry on the transmission of money or monetary value in any form, the issuance, sale or redemption of money orders or traveller’s cheques, cheque cashing and currency exchange.
- CLASS B licence permits the holder to carry on the issuance, sale or redemption of money orders or traveller’s cheques, cheque cashing and currency exchange.
- CLASS C licence permits the holder to carry on cheque cashing.
- CLASS D licence permits the holder to carry on currency exchange.
- CLASS E licence permits the holder to carry on pay day advances.
Where different places of business are kept in the name of the same legal person, a separate licence is required for each such place of business.
In order to obtain a licence as a money services business, a person shall apply in writing to the Financial Services Regulatory Commission, pay the prescribed application fee, complete Form A and Form B as outlined in Schedule 2 of the Money Services Business Act of 2008 and submit the required documents. The Financial Services Regulatory Commission will process the application in accordance with its application processing procedures. Upon completion of this process, if it is satisfied that an application is in order and the applicant is a fit and proper person to be licensed to conduct money services business, the Financial Services Regulatory Commission will approve the application and issue a licence to the applicant subject to the applicant paying the prescribed licence fee and making the prescribed statutory deposit in accordance with the Money Services Business Act.
It is anticipated that every sponsor will arrange for a delegation of its senior officers, or, in the case of an independent institution, of its principal controllers, to make a presentation in respect of the applicant and its proposed business before a formal application is submitted.
Audited Financial Statements
- If the applicant is a business that was existent and operating prior to the date of application, copies of audited financial statements (balance sheet, profit and loss, auditor’s report and notes to accounts) for the five consecutive years immediately preceding its application, except however that where such applicant has been functioning for less than five years, a copy of its audited financial statements for each year it has been in operation shall be sufficient.
- Where item 1 is not applicable the opening balance sheet, (audited).
- Operating projections for the proposed licensee’s first five years of business. This should include balance sheet, income statement and cash flow projections prepared in an acceptable accounting format. Details of any financial or economic assumptions on which these projections are based should be clearly indicated.
- Where Applicant is a subsidiary or affiliate of another company, submit in addition to item 1 or 2, audited financial statements of the parent company and all other “connected” companies.
Licensed Money Services Businesses
- MP Express
- Western Union
Application and annual licensing fees are as follows:
|Class||Application Fee||Annual Licence Fee|
Duration of Money Services Businesses
A licence to carry on money services business is valid from the date of first issue to the 31st December of that year and is renewable each year on payment of the prescribed annual fee on or before the 15th day of January.
If the Commission has reasonable cause to suspect that any person is carrying on money services business without a licence granted under the Money Services Business Act, No. 26 of 2008, the Financial Services Regulatory Commission may relay the matter before a Magistrate with regards to its suspicions.
A licensee is required to appoint annually an Auditor who must be a Chartered Accountant, Certified Public Accountant, a member of the Institute of Chartered Accountants of the Eastern Caribbean or some other professionally qualified accountant, whose duty shall be to prepare reports on the annual financial statements and financial position of the licensee.
Accordingly, the licensee must, within three months of the end of their financial year, forward the audited financial statements to the Financial Services Regulatory Commission unless prior written approval for an extension was granted by the Commission.
A licensee shall institute procedures to ensure that its accounting records and systems of business control comply with the requirements of the Anti-Money Laundering Regulations, No. 25 of 2008.
The holder of a Class A or Class B licence, must, within the format provided by the Financial Services Regulatory Commission, file quarterly returns with the Commission within fifteen days of the end of a quarter, along with a written declaration that the information set out in the application for the licence remains correct and gives a fair picture of the operations of the money services business.
The holder of Class C, Class D or Class E licence must, within fifteen days of the end of the financial year, file an annual return with the Commission along with a written declaration that the information set out in its application remains correct.
Revocation and Termination of a Licence
The Financial Services Regulatory Commission may revoke any licence to carry on money services business in Saint Christopher and Nevis if the licensee (a) fails to commence operations within a period of three (3) months following the granting of the licence; (b) fails to comply with the conditions or restrictions of its licence; (c) is in breach of any of the provisions of the Money Services Business Act; (d) ceases to carry on money services business in Saint Christopher and Nevis; (e) is conducting its affairs in a manner detrimental to the public interest or to the interest of its customers; (f) goes into liquidation or is winding up or otherwise dissolved; (g) by reason of any other circumstance, is no longer a fit and proper person to hold a licence. The Financial Services Regulatory Commission will also terminate a licence at the request of the licensee.
Where a licence to carry on money services business in Saint Christopher and Nevis has been revoked, the Financial Services Regulatory Commission will publish a notice of the revocation in the Gazette and a newspaper circulating in Saint Christopher and Nevis and take any other steps necessary to inform the public of such revocation.
The Nevis International Banking Ordinance, No 1 of 2014 was designed to enable international banking to be carried on by international banks from within Nevis and to encourage the development of Nevis as a responsible international financial centre.The banking legislation is comprehensive with a strong built-in regulatory framework to ensure that a bank licensed under the legislation can be properly monitored to safeguard depositor’s funds and ensure that the bank maintains acceptable accounting standards and satisfies capital requirements.
To deter the establishment of brass plate banks and to protect the reputation of the jurisdiction, the Ordinance provides that no licence can be issued to an individual. Licences are granted only to eligible companies or qualified foreign banks. A licensee is required to have a physical place in Nevis approved by the Regulator of International Banking which will also be its registered office.
An eligible company includes a body corporate which has been incorporated under the Companies Ordinance which is a wholly owned subsidiary of a bank which is indigenous to St. Kitts and Nevis and regulated by the Eastern Caribbean Central Bank; or a subsidiary of a qualified foreign bank which has been incorporated under the Companies Ordinance; or a body corporate which has been incorporated under the Companies Ordinance of which the chief executive officer at the time of its application for a licence, has at least ten years’ experience in banking or finance.
A qualified foreign bank is defined as a bank with adequate capitalization and assets that is licensed to conduct domestic banking in its jurisdiction of incorporation, or a financial institution that is directly or indirectly a wholly owned subsidiary of a foreign bank.
Once an application is made and all requirements are satisfied, a licence will be issued to the successful applicant upon the payment of a prescribed licensing fee.
The Ordinance permits the identification and the investigation of all directors, beneficial owners and senior managers of an international bank in Nevis. Only fit and proper persons will be permitted to hold a directorship, senior management or shareholding position in an international bank.
|The matter in respect of which the prescribed fee is payable||USD|
|Initial License fee||50,000.00|
|Annual license fee||50,000.00|
Offences in respect of which liability to conviction may be discharged by payment of fixed penalty
|Section of Ordinance||Section of Ordinance||Fixed Penalty|
|6 (2)||Carrying on International Banking within Nevis without a license||Not exceeding $500,000.00 and a further penalty of $50,000.00 for each day in default|
|15 (11)||Breach of condition of license||$25,000.00 and a further penalty of $1,000.00 for each day in default|
|16 (2)||Failure to display copy of current license||$25,000.00 and a further penalty of $1,000.00 for each month in default|
|17||Unauthorised use of the word “bank” in name||$25,000.00 and a further penalty of $1,000.00 for each day in default|
|21||Appointment of a person debarred from management||$25,000.00 and a further penalty of $1,000.00 for each day in default|
|25, 26, 27, 28||Failure of director to disclose and declare interest||$10,000 for each contravention|
|29||Disclosure of confidential information||$20,000.00|
|31||Failure to forward to the Regulator and shareholders, copies of Annual Audited Financial Statements by the prescribed date or forwarding returns after the prescribed date||$25,000.00 and a further penalty of $1,000.00 for each month in default|
|76||Failure to report to the Regulator any abandoned property in its possession or failure to deposit or convey to the Administration and abandoned property||$25,000.00 and a further penalty of $1,000.00 for each day in default|
|77(1) and (2)||Conducting international banking from within Nevis during any period in which a licensee/director/officer does not hold a license||Not exceeding $250,00.00 (Licensee)
Up to $50,000.00 (director/officer)
|78||Engaging in advertising practices contrary to Ordinance||$10,000.00 and a further penalty of $1,000.00 for each day in default|
|79||Making false statements and obstruction||$50,000.00|
|10(4)||Failure to submit returns as required by the Regulator||$5,000.00|
The Application and supporting forms for international banking licences are available below. You are strongly advised to contact the International Banking Division to discuss your proposals before completing and submitting an application form.
This section provides links to relevant laws, regulations, instructions, rules, codes, guidance and other documents that govern the Nevis International Insurance Department.
The legislations hereunder provide the supervisory framework for the supervision and regulation of International insurance companies. The Nevis International Insurance division is governed by the Nevis International Insurance Ordinance 2004 as amended. In keeping with good governance and regulations, registered insurance companies must abide with the Nevis Business Corporations and follow the rules set out by the NIIO 2004, as amended.
The key regulatory features of the Nevis International Insurance product are:
- Every registered insurer must have a registered agent or insurance manager resident in Nevis. An Insurance Manager may be non-resident subject to the approval of the Registrar of International Insurance and in this case, the insurance manager must also appoint a registered agent.
- Generally, cash, debt securities, precious metals, irrevocable letters of credit, equities, mutual funds, commercial loans, premiums receivables and reinsurance receivables are considered allowable assets. However, if an insurer wishes to hold assets other than those generally allowed, he must seek guidance from the Registrar of International Insurance.
- Registered insurers holding a General Insurance, Long-Term Insurance or Reinsurance license must submit annual audited accounts. Registered insurers holding a Captive Insurance, Allied Reinsurance or Allied Annuity Insurance license must submit financial statements and tax returns, as filed and accepted by the relevant authority in the country of origin (or where filed); however the Registrar at his/her discretion may request audited financial statements for further analysis of the insurance company’s financial stability.
- An insurer of long-term insurance business must file an actuarial valuation of its assets and liabilities, every three years at the end of its financial year.
- A Registered Insurer licensed as an allied reinsurer cannot issue contracts with the consuming public, or otherwise act as a primary insurer. A Registered Insurer, upon approval from the Registrar, may be allied to a maximum of five (5) primary insurers, provided that it is reinsuring a different line of business from each primary insurer.
- A person registered as an insurance manager or a registered agent or any person acting as an insurance manager or an registered agent shall not directly or indirectly be interested as a shareholder in or a director, officer or employee of any registered insurer for which he acts as manager or registered agent.
The Nevis International Insurance Ordinance 2004 as amended allow for entities to be licensed insurance companies under the defined Act.
The following are the types of Insurance Entities:
- Allied Reinsurance – means a company carrying on insurance business where the registered reinsurer is allied to a primary insurer who typically initiates insurance contracts as part of its normal course of business, and the allied reinsurer will only assumes risks and accepts premiums from this primary insurer;
- Allied Annuity – means a company carrying on insurance business where the registered insurer’s business entails only the issuance of annuity contracts, and/or single premium life contracts, and where premiums are acceptable only from its parent(s), or other person(s) of substantial relationship, whether personal or business, and the number of annuitants does not exceed ten (10) persons;
- Captive Insurance Business – means insurance business where the insured is a parent or affiliated company of the registered insurer or is a person in respect of whom the registered insurer is authorized by the Registrar to provide insurance;
- General Business – means insurance business that is not long-term business, reinsurance business or captive business and without limiting the generality of this term includes marine insurance, engineering insurance, aviation insurance, transportation insurance, motor insurance, property liability insurance, pecuniary loss insurance, credit and guarantor insurance and miscellaneous personal insurance;
- Insurance Adjuster – means a person, not being an employee of a registered insured, but employable by insurer or insured, who investigates, qualify and/or quantify a loss experienced in relation to a covered risk;
- Insurance Broker– means a person, not being an employee of a registered insured, who arranges contracts of insurance between insurer and insured, or gives advice facilitating the sale of insurance contracts, or is authorized by one or more insurer to enter that insurer into contracts of insurance, collect premiums, and otherwise act as the insurer in dealing with the insured.
- provides management services for one or more insurers; or
- holds himself out as a manager in relation to one or more insurers, but does not include the keeping of insurance business accounts for a registered insurer
No Person shall act as an insurance manager for, or in relation to, a registered insurer, unless that person is registered in a register to be kept by the Registrar in accordance with regulations and has paid to the Registrar the prescribed fee and every prescribed registration fee and every prescribed annual renewal fee.
- Long Term Insurance Business– means insurance business of any of the following kinds, namely,–
- affecting and carrying out contracts of insurance on human life or contracts to pay annuities on human life;
- effecting and carrying out contracts of insurance against risks of the persons insured sustaining injury as the result of an accident, or of an accident of a specified class, or dying as the result of an accident or of an accident of a specified class, becoming incapacitated in consequence of disease, or disease of a specified class, being contracts that are expressed to be in effect for a period of not less than five years or without limit of time and either not expressed to be terminable by the insurer before the expiration of five years from the taking effect thereof or are expressed to be so terminable before the expiration of that period only in special circumstances therein mentioned;
- effecting and carrying out contracts of insurance, whether effected by the issue of policies, bonds or endowment certificates or otherwise, whereby in return for one or more premiums paid to the insurer a sum or a series of sums is to become payable to the persons insured in the future, not being contracts such as to fall within either paragraph (a) or (b); and
- any kind of insurance business declared by regulation to be long-term business;
- Reinsurance – means insurance business where the risk insured by a person is a risk that person has accepted from an insurer;
- Registered Agents – A Registered insurer shall appoint a Registered Agent in Nevis where its principal place of business is outside Nevis and Manager is not resident in Nevis.
Minimum Paid Up Share Capital
The minimum paid up share capital for the classes of insurance business are as follows:
|US$185,000||General Insurance Business|
|US$20,000||Less than 5 Owners Captive and|
|US$50,000||5 or more Owners Captive|
|US$10,000||Allied Reinsurance Business|
|US$10,000||Allied Annuity Insurance Business|
Minimum Margin of Solvency
“Minimum margin of solvency” is the amount by which an insurer’s assets must exceed its liabilities.
In the case of an insurer other than an insurer carrying on long-term business, the minimum margin of solvency shall be at least the minimum amount of paid up capital as prescribed in section 7 (1)(b) of the Ordinance or, if greater:
- where the net retained premium of the insurer does not exceed $5,000,000 the prescribed amount is 20% of net retained premium;
- where the net retained premium of the insurer exceeds $5,000,000, the prescribed amount is US$1,000,000 plus 10% of the amount by which net retained premium exceeds US$5,000,000.
In the case of an insurer carrying on long-term business the minimum margin of solvency shall be at least the minimum amount of paid up capital as prescribed in sub-regulation (a)(ii) of the Ordinance.
In the case of an insurer carrying on long-term business and other business the minimum margin of solvency shall be the aggregate of the amounts required by sub-regulations (a) and (b) of the Ordinance, in respect of both categories of business.
For the purposes of calculating the margin of solvency of an insurer, the registrar shall take into account all assets of the insurer that he reasonably considers to be allowable and shall exclude all those that he reasonably considers to be not allowable.
|Allied Annuity Company||450||1,200||1,200|
|Long Term Insurance||2,500||2,500||2,500|
Other Fees (USD)
Certificate of Endorsement – 10.00
Certificate of Incorporation – 10.00
Penalties for late filing of any of the above renewal fees (to be paid in addition to renewal fee):-
(a) After January 31 – 1/2 of applicable annual renewal fee
(b) After June 30 – a sum equal to the applicable annual renewal fee
It is essential that all prospective applicants familiarize themselves with the relevant local insurance laws, regulations, rules and codes, including the anti money laundering requirements, before applying for a license to become a registered insurer in Nevis’ jurisdiction. An international insurer applicant should contact one of the licensed insurance managers in Nevis to discuss any management requirements. Please be aware that the Financial Services Department is unable to make any recommendations in this respect.
It is recommended that prospective applicants contact the Department at the earliest possible opportunity to discuss their outline proposals.
Should a prospective applicant wish to proceed with a formal application for licensing, a completed application form, together with the relevant fees and all necessary documentation, should be submitted to the Department for processing.
The required documents are as follows:
In order to apply for a registered insurer, registered Insurance Manager or registered agent’s license there following must be submitted to the Nevis Financial Services Department:
Completed Application form –
- Form 1 – Insurance Manager, Registered Agent: Application for Insurance Manager's or Registered Agent's Licence
- Form 3 – Captive: Application for Captive Insurer's Licence
- Form 4 – General, Long Term, Reinsurance: Application for General and or Long-Term or Re-Insurer's Licence
- Form 5 – Allied Reinsurance: Application for Allied Insurer's Licence
- Form 7 – Insurance Broker and Insurance Adjusters: Application for Insurace Broker's or Insurance Ajuster's Licence
- Completed Personal Questionnaire Form (Form 2) (all directors and shareholders, managers and officers) At least 2 directors is required – Section 28 of the Ordinance
- Completed Insurance Manager Undertaking Form (Form 6) (all beneficial owners of the entity to be registered)
- Application fee
- Due diligence documentation must be submitted with the application for each control person (directors/ shareholders/managers/officers) who have completed a Form 2, this includes:
- Notarized passport declaration pages or government issued photo ID
- Utility bill confirming address (dated within 6 months of application date)
- 2 references: 1 professional reference (from accountant, lawyer, or administrator etc), 1 bank reference (on company stationery) attesting to good standing of individual
- Police record (preferred) and/ or notarized criminal history declaration form or affidavit
- Curriculum vitae for each control person (directors, manager, officers). For each director it is preferred that skill and expertise along with professional qualifications be highlighted.
- Annual accounts for 2 years preceding year of application, of each shareholder which is a body corporate holding more than 10% of the applicant’s issued share capital or total voting rights, together with similar accounts for the parent body, if any, of each such body corporate.
- Business plan must be submitted with application
- Financial projections (3-5 yrs minimum) including Pro Forma Income Statement, Balance Sheet and Cash Flow Statement
- Documents by which the body corporate is to be constituted such as Articles of Incorporation, Memorandum of Association, Articles of Association, By-laws etc. If not yet incorporated attach the proposed documentation.
- Insurance Manager/ Registered Agent Agreement (ALLIED REINSURANCE AND ALLIED ANNITY).
- A list of all insurers whom the applicant is, or will be engaged to act as manager or consultant (INSURANCE MANAGER/ REGISTERED AGENT)
- External Due Diligence Fee of US 1200 per non national control person (INSURANCE MANAGER/ REGISTERED AGENT)
- An undertaking from company management that risks and premiums will only be assumed from named and approved primary company; (ALLIED REINSURANCE)
- Specimen Contracts indicating (i) the annual maximum frequency and amount of contribution; and (ii) maturity (ALLIED REINSURANCE)
- Registration fee is required to be paid before the applicant receives the license.
The Nevis Multiform Foundation Ordinance is a very unique and cutting-edge legislation which was designed to remedy some of the problems seen in other foundation products.
The Nevis Multiform Foundations Ordinance provides that each Nevis Foundation will have a stated ‘multiform’. This means that the constitution of the foundation will state how it is to be treated whether as a trust, a company, a partnership or an ordinary foundation. Through the ‘multiform’ concept the stated identity of the Foundation can be changed during its lifetime, thus allowing for there to be greater flexibility in its use and application. Generally, the Nevis Multiform Foundation product can be used for estate planning, charity, financing and special investment holding arrangements.
There are five basic requirements for establishing a Nevis Multiform Foundation:
- It must have a Nevis based registered agent
- It must have a Nevis registered office
- It must have an acceptable name
- It must have a management board and secretary and
- It must have a memorandum of establishment
Like the formation of a company, you must first engage the services of a registered agent who is authorized to act as agent of the entity, and that registered agent must have an office to which all communications and notices may be addressed. The Promoter of the Foundation, through its registered agent may reserve a name prior to establishment of the foundation. If the foundation is a trust foundation, then the name must accord with that multiform so that the trust foundation has the word “trust” in it. The name must not be prohibited by law: schedule 5 of the Nevis Multiform Foundation Regulation has a list of restricted names. Irrespective of the prohibited word list the Registrar of Foundations will not reserve a name that is misleading, undesirable, confusing or similar to another name of an entity registered in Nevis.
Once the Registrar confirms that a name is available and valid for use, that name can be reserved for a period of one month. The Registrar has discretion to permit a name to be reserved for a longer period. Once a name has been reserved, the following establishment documents must be submitted to the Registrar in order to establish the Multiform Foundation:
- Application Form
- Consent Schedule
- Memorandum of establishment
- By laws (if standard by-laws are not adopted)
- Evidence that the existing entity has been dissolved or discontinued or an undertaking that an application for dissolution or discontinuance has been submitted in the existing jurisdiction (where applicable)
The relevant fees must accompany the documentation for establishment of a Nevis Multiform Foundation.
The Nevis Multiform Foundation Ordinance also provides for entities to be converted or transformed, continued or consolidated and merged into a Nevis Multiform Foundations. Through the process of Continuance, a foundation in another jurisdiction can be continued in Nevis as Multiform Foundation. Through the process of Transformation, any entity outside of Nevis can be transformed into a foundation in Nevis. Therefore, a trust in Jersey can become a multiform foundation in Nevis. Through the process of Conversion, an existing Nevis entity like an IBC can be converted to a multiform foundation. Through the process of Consolidation or Merger, any two or more entities can merge into a multiform foundation and alternatively, through the process of Discontinuance, a multiform foundation can move to another jurisdiction. These provisions allow for the mobility of the foundations as an entity into and out of Nevis and give the founder an extremely valuable estate planning tool.
|The Matter in Respect of which Prescribed Fee Shall be Payable||USD||XCD|
|Filing Annual Return||250.00||675.00|
|Issuing any Certificate (including Certificate of Filing)||30.00||80.00|
|For undertaking an Apostille||25.00||68.00|
|Issuing a Certificate of Correction||100.00||270.00|
|Issuing a Certificate of Discontinuance||345.00||932.00|
|Issuing a Certificate of Establishment||287.00||775.00|
|Issuing a Certificate of Establishment by Consolidation||345.00||932.00|
|Issuing a Certificate of Establishment by Continuance||345.00||932.00|
|Issuing a Certificate of Establishment by Conversion||345.00||932.00|
|Issuing a Certificate of Establishment by Merger||345.00||932.00|
|Issuing a Certificate of Establishment by Transformation||345.00||932.00|
|Issuing a Certificate of Establishment for Change in Proper Law||176.00||475.00|
|Issuing a Certificate of Good Standing||35.00||95.00|
|Issuing a Certificate of Filing of Amended By-laws||176.00||475.00|
|Issuing a Certificate of Establishment of Change in Multiform||287.00||775.00|
|Issuing a Certificate of Registration on Change of Name||176.00||475.00|
|Issuing a Certificate of Revival||287.00||775.00|
|Issuing a Certificate of Tax Residency||1157.00||3125.00|
|Issuing a certified true copy of filed documents:|
|-First three pages||10.00||27.00|
|-Each additional page||0.75||2.00|
|For conducting searches||20.00||55.00|
|For late penalties for filing documents:|
|– for first six (6) months||115.00||311.00|
|– after six (6) months||250.00||675.00|
|For undertaking a name reservation||30.00||80.00|
|For Undertaking a Renewal of Name Reservation||30.00||80.00|
|For filing a notice of change of or by the registered agent or situation of the registered office||30.00||80.00|
|For filing a notice of change of the particulars of the secretary, management board or supervisory board||30.00||80.00|
|For filing a notice of dissolution||150.00||405.00|
|For filing a withdrawal of a notice requesting by-laws are made available for public inspection on the Register||30.00||80.00|
|For filing a withdrawal of notice requesting that particulars of members of management board are available for public inspection on the Register||30.00||80.00|
|For filing a withdrawal of a notice requesting particulars of members of the supervisory board are available for public inspection on the Register||30.00||80.00|
|For filing a notice requesting by-laws are made available for public inspection on the register||30.00||80.00|
|For filing a notice requesting particulars of members of management board are made available for public inspection on the Register||30.00||80.00|
|For filing a notice requesting particulars of members of supervisory board are made available for public inspection on the Register||30.00||80.00|
|For undertaking a renewal of name reservation||30.00||80.00|
|For receiving voluntary filings||40.00||108.00|
|Administrative Fee (rush requests,re-application of Fees requests etc.)||30.00||80.00|
|For late filing of Annual Returns (foreach day the offence continues)||50.00||135.00|