SEO Title: IFSCA Sets KRA Fees in International Financial Centres
GIFT City, Gandhinagar – The International Financial Services Centres Authority (IFSCA) has issued a circular, dated June 13, 2025, outlining the fee structure for entities seeking registration as KYC Registration Agencies (KRAs) within the International Financial Services Centres (IFSC). This circular follows the notification of the IFSCA (KYC Registration Agency) Regulations, 2025, on April 16, 2025. Under the new guidelines, prospective KRAs are required to pay an Application Fee of USD 1,000 when submitting their application. Upon receiving provisional or in-principle approval from the Authority, applicants must pay a Registration Fee of USD 5,000 within 15 days. Additionally, an Annual Fee of USD 5,000 has been specified. For the financial year in which registration is granted, the annual fee will be calculated on a pro-rata basis for the remaining months and is due within 15 days of registration, with any part of a month considered a full month. For subsequent financial years, the annual fee must be paid by April 30th of the relevant financial year. This directive is issued by the IFSCA in exercise of powers conferred by Section 12 of the IFSCA Act, 2019, read with Regulation 3 of the IFSCA (KYC Registration Agency) Regulations, 2025.
International Financial Services Centres Authority
Circular No. IFSCA/CMD/DMIIT/KRA/2025-26/1 June 13, 2025
To,
All the entities desirous of obtaining registration as KYC Registration Agency (KRA)
Dear Sir/Madam,
Sub: Fee structure for KYA Registration Agencies in IFSC
1. IFSCA (KYC Registration Agency) Regulations, 2025 were notified on April 16, 2025.
2. IFSCA (hereinafter referred to as the ‘Authority’) specifies the following fee structure for the KYC Registration Agencies in IFSC:
i. Application Fee: USD 1,000
ii. Registration Fee: USD 5,000
iii. Annual Fee: USD 5,000
3. An Entity shall pay the Application Fee, at the time of making an application to the Authority.
4. On intimation of the decision by the Authority to grant provisional or in-principle approval, the applicant shall pay the Registration Fee within 15 days of such an intimation.
5. The annual fee shall be payable after obtaining the registration with the Authority. For the financial year in which the registration has been granted, annual fee shall be calculated on a pro rata basis for every remaining month in that financial year. The entity shall pay the applicable annual fee within 15 days from the grant of registration. For the purpose of calculation of the annual fee, a part of a month shall be considered as a full month.
6. For the ongoing financial year, after the financial year in which the registration has been granted, annual fee shall be payable by 30th April of such financial year to which the fee pertains. For e.g. annual fee for FY 2026-27 shall be payable by April 30, 2026.
This circular is issued in exercise of powers conferred by section 12 of the IFSCA, 2019, read with regulation 3 of IFSCA (KYC Registration Agency) Regulations, 2025.
A copy of this circular is available on the website of the International Financial Services Centres Authority at www.ifsca.gov.in .
Yours faithfully,
Praveen Kamat
General Manager
Division of Market Infrastructure Institutions and Technology
Capital Markets Department
email: praveen.kamat@ifsca.gov.in
Tel: +91-79-61809820
