The International Financial Services Centres Authority (IFSCA) has announced a revised fee structure for International Trade Finance Service (ITFS) operators and applicants looking to establish ITFS platforms in International Financial Services Centres (IFSCs). Effective April 1, 2025, the updated structure includes application, registration, recurring, activity-based, and processing fees, which vary based on the annual turnover of transactions on the ITFS platform. The registration fee is set at $10,000, while recurring fees range from $3,000 to $15,000, depending on turnover. Additionally, a 20% fee on registration charges applies for modifications to registration terms. The circular, issued under Sections 12 and 13 of the IFSCA Act, 2019, aligns with previous guidelines on IFSC entities’ fee structures. All other provisions from the May 17, 2023, circular remain applicable.
International Financial Services Centres Authority
Circular No. IFSCA-FCR0FCR/3/2023-Banking/2024-25/002 Dated: March 07, 2025
To,
All ITFS operators in IFSC/ Applicants desirous to set up an ITFS in IFSC
Dear Sir/Madam,
Subject: Fee structure for ITFS operators/ Applicants desirous to set up an ITFS in IFSC
1. Reference is drawn to Clause 22 of the circular on “Guidelines on setting up and operation of International Trade Finance Service Platform, 2024” dated December 23, 2024.
2. The following fee structure shall be applicable to all ITFS operators/applicants desirous of setting up an ITFS with effect from April 01, 2025:
Sr.No. |
Entities |
Application fee |
Registration fee |
Recurring fee |
Activity based fee |
Processing fee |
|||
Type of fee |
Amount |
Conditional |
Modification of terms and conditions of grant of registration |
Relax ation/ waiver of guidelines |
|||||
Basis of Fee: Annual Turnover* |
Amount |
||||||||
1 |
ITFS
|
$1000 |
Registr ation |
$10000 |
<= $ 25 million |
$ 3000 |
Nil |
20% of registration fee |
$500 |
>$ 25 million to <= $ 50 million |
$ 5000 |
||||||||
>$ 50 million to <= $ 100 million |
$ 7000 |
||||||||
>$ 100 million to <= $ 200 million |
$ 10000 |
||||||||
>$ 200 million |
$ 15000 |
||||||||
* Turnover refers to the value of transactions on the ITFS platform.
3. All other provisions of the circular on “Fee structure for the entities undertaking or intending to undertake permissible activities in IFSC” dated May 17, 2023 (as amended) shall continue to apply.
4. This circular is issued in exercise of powers conferred by section 12 and 13 of the IFSCA Act 2019, to develop and regulate the financial products, financial services and financial institutions in the IFSCs.
5. A copy of this circular is available on the website of the IFSCA at ifsca.gov.in/circular
Yours faithfully,
Riddhi Bhandari
General Manager
Department of Banking
