The matter in respect of which the prescribed fee is payableUSD
Initial License fee50,000.00
Application fee  6,000.00
Administrative fee  1,500.00
Annual license fee50,000.00

Offences in respect of which liability to conviction may be discharged by payment of fixed penalty

Section of OrdinanceSection of OrdinanceFixed Penalty
    6 (2)Carrying on International Banking within Nevis without a licenseNot 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
  17Unauthorised use of the word “bank” in name$25,000.00 and a further penalty of $1,000.00 for each day in default
  21Appointment 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, 28Failure of director to disclose and declare interest$10,000 for each contravention
  29Disclosure of confidential information$20,000.00
  31Failure 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
  76Failure 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 licenseNot exceeding $250,00.00 (Licensee)

Up to $50,000.00 (director/officer)

  78Engaging in advertising practices contrary to Ordinance$10,000.00 and a further penalty of $1,000.00 for each day in default
  79Making 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.