Licensing Atlas · Tools

Licence fees and timelines

Official application and annual supervisory fees and the statutory decision deadline for 161 fintech licences, with observed timelines where a regulator or a reliable source publishes them. The statutory clock usually runs only from a complete application and stops while the regulator waits for answers, which is why observed times are longer.

Last verified 2026-09-29Markdown · Data (CC BY 4.0)
Licence fees and timelines: toolFEE

Fees and timelines by licence

LicenceCountryApplication feeAnnual feeStatutory timeObserved time
Financial Services Permission for Accepting Deposits (Category 1 Commercial Bank)Abu Dhabi Global Market (ADGM)USD 70,0001USD 100,0001Within a reasonable time from submission of a complete application2n/a
Financial Services Permission for Accepting Deposits or Providing Credit (Category 1 Commercial Bank)Dubai International Financial Centre (DIFC)USD 70,0003USD 100,0003No statutory decision period: the Regulatory Law (Art. 48) only requires the DFSA to notify the applicant of its decision without undue delay4n/a
FinTech licence (Persons pursuant to Article 1b Banking ActSwitzerlandCHF 100 to 500 per hour of work (Art. 8 FINMA-GebV)5CHF 3,000 fixed base levy (Art. 19e FINMA-GebV) plus supplementary levy based on balance sheet total and gross income (Art. 19f FINMA-GebV)6No statutory decision deadline prescribed in Swiss administrative law (FINMA examines applications once complete documentation and regulatory audit report are submitted)7n/a
Banking licenceSwitzerlandn/an/aNo fixed calendar deadline under Swiss administrative law (BankA contains no statutory expiry clock)8n/a
Commercial Bank licenceCzech RepublicCZK 200,0009n/an/an/a
CRR)Germanynach Zeitaufwand (billed based on staff time spent)10EUR 6,336106 months from receipt of complete application, maximum 12 months overall11n/a
Credit institution authorisation (bank)EstoniaEUR 5,00012n/aWithin 6 months after receipt of complete documentation, and not later than 12 months after initial application receipt (decision taken by the ECB upon proposal by Finantsinspektsioon)136 to 12 months in practice depending on document readiness and joint European Central Bank review13
Commercial bank licenceSpainEUR 0 national fee (Credit institution licensing instruction by Banco de España does not accrue a national administrative fee; significant institutions pay ECB supervisory levies)14n/a6 months from receipt of a complete application (or within 12 months from initial filing; silence implies rejection)14n/a
Commercial bank licenceGeorgian/an/aThe National Bank must decide within 6 months of confirming receipt of a complete written application, and the total decision period (including any extension) must not exceed 12 months15n/a
Banking Licence (Section 9 Central Bank Act 1971)Irelandn/aMinimum EUR 292,226 plus a variable amount (Category A1, S.I. No. 348/2026)166 months from receipt of a complete application, maximum 12 months from receipt of application under CRD IV / SSM17n/a
Specialised bank licenceLithuaniaEUR 4,15718Variable supervisory fee based on annual balance sheet assets196 months from receipt of a complete application, maximum 12 months overall20n/a
Credit institution authorisationLuxembourgEUR 75,00021EUR 116,500216 months from receipt of a complete application, maximum 12 months overall22n/a
Credit institution licence (bank)LatviaEUR 0 (free of charge)23n/a1 month completeness check, followed by 3 to 12 months decision period in conjunction with the ECB23n/a
Credit institution licenceMaltaEUR 35,000240.024% of institution-level deposits (minimum EUR 60,000, maximum EUR 1,700,000)246 months from receipt of a complete application, and in any event within 12 months of its receipt25n/a
Bank licence (Vergunning bank / kredietinstelling)NetherlandsEUR 44,30026Annual supervisory levy under Wbft 2019 and ECB SSM regulation based on total risk exposure and asset size276 months from receipt of a complete application, up to a maximum of 12 months overall17n/a
Notification by financial entities providing crypto-asset services under MiCAR Article 60CyprusEUR 10,000 one-off notification fee for authorized central securities depositories, CIFs, market operators, and UCITS/AIF management companies initiating crypto-asset services under Article 6028n/aThe financial entity must notify the information required under Article 60(7) to CySEC (its home-state competent authority) at least 40 working days before providing the crypto-asset services for the first time. If CySEC finds the notification incomplete, the period is suspended until a complete notification is filed, so services cannot start until 40 complete working days have run.29n/a
Crypto-Asset Service Provider (CASP) authorisation under MiCAR Article 63CyprusEUR 5,000 to EUR 30,000 per requested crypto-asset service (EUR 5,000 for exchange or transfer services; EUR 8,000 for RTO, execution, placing, advice, or portfolio management; EUR 10,000 for custody; EUR 30,000 for trading platform operation)28Fixed annual fee between EUR 5,000 and EUR 20,000 per authorized crypto-asset service (EUR 5,000 for exchange/execution/transfers; EUR 8,000 for advice/portfolio; EUR 10,000 for custody; EUR 20,000 for trading platform), plus turnover surcharge above EUR 500,000 (1% up to EUR 1M, scaling to 0.1% above EUR 10M, capped at EUR 500,000 total)2840 working days from receipt of a complete application (following a 25 working days completeness assessment)30n/a
Crypto-Asset Service Provider authorisation under MiCA and Act No. 31/2025 Coll.Czech RepublicCZK 20,0009n/a40 working days from complete application under MiCA Art. 63(9) (plus 25 working days completeness check)31n/a
Crypto-asset service provider licenceGermanynach Zeitaufwand (billed based on staff time spent)10Annual cost allocation levy (Umlage) under FinDAG3240 working days from receipt of a complete application30n/a
Authorisation to operate as a crypto-asset service provider under MiCAEstoniaEUR 3,00033n/a25 working days completeness check, followed by 40 working days decision period (procedural time limit may be paused for up to 20 working days)33n/a
Crypto-asset service provider authorizationSpainn/an/a40 working days from receipt of a complete application (following 25 working days completeness check)30n/a
Crypto-asset service provider authorization under EU MiCA RegulationFrancen/aEUR 10,000 fixed annual contribution (Article D. 621-27 II 14°), plus 0.0094‰ (0.00094%) of assets under custody for custodians (minimum EUR 1,500)3440 working days from receipt of a complete application, preceded by a 25 working days completeness assessment (MiCA Art. 63)30n/a
Crypto-Asset Service Provider AuthorisationIrelandEUR 0 (No statutory application fee published under Irish MiCAR framework)35n/a40 working days from receipt of a complete application under Article 63(1) of MiCA30n/a
Crypto-asset service provider (CASP) authorizationItalyEUR 20,000.0036EUR 10,000.00 per authorized or notified crypto-asset service (or EUR 47,130.00 to EUR 262,550.00 tiered for trading platform operators)3640 working days from receipt of a complete application (following a 25 working-day completeness review)30n/a
Crypto-asset service provider licenceLithuaniaEUR 2,425370.7% of annual income (minimum EUR 3,000)3825 working days completeness assessment from receipt, followed by 40 working days decision period from receipt of a complete application30n/a
Crypto-asset service provider authorisation under MiCA RegulationLuxembourgEUR 30,00021EUR 40,0002140 working days from receipt of a complete application30n/a
Crypto-asset service provider licence under MiCALatviaEUR 2,50039up to 0.6% of gross revenue per calendar year (minimum EUR 3,000)3925 working days completeness review, followed by 40 working days decision period under MiCA Art. 6339n/a
Crypto-Asset Service Provider authorisation under Regulation (EU) 2023/1114MaltaEUR 10,000 for Class 1 services, EUR 20,000 for Class 2 services, or EUR 25,000 for Class 3 services (operating a trading platform); where services fall across different classes, only the highest fee applies40Aggregate annual fee comprising a class base fee (EUR 10,000 for Class 1, EUR 25,000 for Class 2, or EUR 50,000 for Class 3) plus EUR 2,000 for every authorized service, plus a variable charge of 0.05% of transaction volume up to a maximum cap of EUR 250,0004040 working days from receipt of a complete application, following a 25 working days completeness assessment41n/a
Crypto-Asset Service Provider (CASP) authorisation under Regulation (EU) 2023/1114 (MiCA)NetherlandsEUR 200 per hour worked by the AFM, with a statutory maximum cap of EUR 100,000 for MiCA Art. 62/63 authorisations (Bbft 2019 Bijlage 2, code EU.A1.08), EUR 50,000 cap for Art. 60 notifications (code EU.A3.08), plus EUR 700 per person for integrity assessment and EUR 2,900 for suitability assessment (or EUR 1,500 / EUR 500 if previously assessed by DNB)42EUR 8,000 base supervisory levy plus a turnover-based component and service modules under Regeling bekostiging financieel toezicht 2026: custody EUR 4,250; trading platform EUR 4,250; crypto-fiat exchange EUR 2,125; crypto-crypto exchange EUR 2,125; order execution EUR 4,250; placing EUR 2,125; reception/transmission EUR 2,125; advice EUR 4,250; portfolio management EUR 6,375; transfer services EUR 4,2504325 working days completeness assessment from receipt, followed by 40 working days decision period once complete (Regulation (EU) 2023/1114 Art. 63)30At least 5 months in practice, often longer: 'even in a best-case scenario it will take at least five months. In practice, it will often take longer.'44
Crypto-Asset Service Provider authorization under MiCAPolandn/an/a25 working days completeness assessment from receipt, followed by 40 working days decision period from receipt of a complete application31n/a
Crypto-asset service provider licence under MiCASlovakiaEUR 1,700450.1000% of assets, min. EUR 1,0004640 working days from complete application under MiCA Art. 63(7) (plus 25 working days completeness check)47n/a
Small-scale Electronic Money Issuer authorisationCzech RepublicCZK 10,0009n/a30 days (general administrative code deadline, extendable by 30 days)48n/a
Electronic Money Institution licenceCzech RepublicCZK 50,0009n/a3 months from commencement of proceedings48n/a
Electronic money institution licenceGermanynach Zeitaufwand (billed based on staff time spent)10Annual cost allocation levy (Umlage) based on transaction volume323 months from receipt of complete application, maximum 12 months overall49n/a
Operating licence as an electronic money institutionEstonian/an/aWithin 3 months after all necessary documentation is received, and not later than 6 months after initial receipt50n/a
Electronic money institution authorizationSpainEUR 0 (The application and licensing procedure does not accrue any statutory fee)51EUR 0 (Banco de España does not levy annual supervisory fees on domestic EMIs)513 months from receipt of a complete application (maximum 12 months from initial filing; failure to notify within the statutory deadline implies administrative denial)51n/a
Small Electronic Money Institution (SEMI) RegistrationUnited KingdomGBP 1,130 (Pricing Category 3)52GBP 1,418 extra fee for small electronic money institutions (Fee-block G.11)53n/an/a
Authorised Electronic Money Institution (AEMI)United KingdomGBP 5,640 (Pricing Category 5)52GBP 2,000 standard minimum fee (Fee-block A.0) plus GBP 2,043 extra fee for large electronic money institutions (Fee-block G.10) plus variable levy based on average outstanding electronic money533 months from receipt of a complete application, or 12 months from receipt of an incomplete application under Regulation 9 of EMRs 201154Median elapsed determination time of 207 calendar days (Lower Quartile: 124 days, Upper Quartile: 269 days) across 44 payment services and e-money applications (PS1-4) determined in Q4 2025/2655
Electronic Money Institution AuthorisationIrelandEUR 0 (No application fee)56Minimum levy of EUR 6,625 plus a variable levy based on the firm's share of all transactions processed (Category N, S.I. No. 348/2026)16n/an/a
Electronic money institution licence for non-limited activityLithuaniaEUR 1,46357Annual supervisory fee of 0.65% of the institution's annual income; no minimum fee is in force (a EUR 5,000 minimum is only proposed from 2027)583 months from receipt of a complete application59n/a
Electronic money institution authorisationLuxembourgEUR 30,00021EUR 30,000213 months from receipt of a complete application, maximum 12 months overall60n/a
Registered electronic money institutionLatviaEUR 2,500 (standard) or EUR 450 (innovative PSP)61EUR 1,000 plus up to 1.4% of gross revenue6115 working days completeness check, followed by 1 month decision period from receipt of complete application61n/a
Authorised electronic money institution licenceLatviaEUR 5,000 (standard) or EUR 450 (innovative PSP)62EUR 7,000 plus up to 1.4% of gross revenue (or EUR 1,000 fixed for innovative PSPs in first 3 years)6215 working days completeness check, followed by 3 months decision period from receipt of complete application62n/a
Electronic money institution licenceMaltaEUR 15,00063EUR 35,000 base + higher of 0.02% total assets or aggregate of 0.0003% payment transaction value and 0.01% average daily outstanding electronic money (max EUR 250,000)633 months from receipt of a complete application64n/a
Electronic money institution licence (Vergunning elektronischgeldinstelling)NetherlandsEUR 6,80026n/a3 months from receipt of a complete application65n/a
Electronic Money Institution licencePolandEUR 1,250, payable in PLN, for the permit application66n/a3 months from a complete application67n/a
Financial Services Permission for Managing a Collective Investment Fund (Category 3C)Abu Dhabi Global Market (ADGM)n/an/aWithin a reasonable time from submission of a complete application2n/a
Financial Services Permission for Managing a Collective Investment Fund (Category 3C)Dubai International Financial Centre (DIFC)USD 10,0003USD 10,0003No statutory decision period: the Regulatory Law (Art. 48) only requires the DFSA to notify the applicant of its decision without undue delay4n/a
Fund management company licenceSwitzerlandn/aAnnual supervisory levy allocated across fund management companies under Section 3 FINMA-GebV6n/an/a
Manager of collective assets licenceSwitzerlandn/aAnnual supervisory levy allocated across collective asset managers under Section 3 FINMA-GebV6No fixed calendar deadline under Swiss administrative law68n/a
Alternative Investment Fund Manager (AIFM) authorisationCyprusn/an/a3 months from submission of a complete application, extendable by an additional 3 months where deemed necessary69n/a
Sub-threshold Alternative Investment Fund Manager registration pursuant to Section 15 of AMCIFCzech RepublicCZK 10,0009n/a30 days (general administrative code deadline)70n/a
Investment Company / Fund Manager licenceCzech RepublicCZK 50,000 to CZK 100,000 depending on scope of management licence9n/a6 months from receipt of a complete application70n/a
Operating licence as a fund management companyEstoniaEUR 600 (foreign fund public offering registration fee)71n/an/an/a
Fund manager licence (SGIIC)SpainEUR 10,000 (Tarifa 4.1.1; plus EUR 300 registration fee under Tarifa 4.3)720.025% of eligible own funds (minimum EUR 500) under Tarifa 6.1.373n/an/a
Portfolio management company authorisationFrancen/an/a3 months from receipt of a complete application, extendable by up to 3 additional months (Article R. 532-15 CMF / Instruction DOC-2008-03)74n/a
Alternative investment fund manager (AIFM) authorisationLuxembourgEUR 18,00021EUR 42,000213 months from receipt of a complete application, extendable by 3 months75n/a
Management company authorised under Chapter 15 of the Law of 17 December 2010LuxembourgEUR 18,00021EUR 42,000216 months from receipt of a complete application76n/a
Alternative Investment Fund Manager (AIFM) licence under Wft Article 2:65 and Directive 2011/61/EUNetherlandsEUR 200 per hour worked by the AFM, with a statutory maximum cap of EUR 100,000 for AIFM licences under Wft Art. 2:65 (Bbft 2019 Bijlage 2, code Wft.A1.05); UCITS manager licence max EUR 100,000; plus person assessments (EUR 700 integrity, EUR 2,900 suitability)77EUR 9,720 base supervisory levy under Regeling bekostiging financieel toezicht 2026 (Artikel II, category 6), plus variable contribution based on balance sheet total of managed funds4326 weeks from receipt of a complete application under Wft Article 1:102, a deviation from the general 13-week decision period for AIFM manager licences78n/a
Alternative Investment Company Manager registration / licencePolandn/aEUR 750 equivalent in PLN79n/an/a
Supplier Licence (B2B platform/software licence) under the LOKCuraçaoEUR 4,592 one-time (plus EUR 150 per UBO/qualified interest holder, EUR 2,551 per listed UBO)80EUR 24,490 Supervisory Fee to the CGA (no separate National Treasury fee for B2B), payable in full by 15 January80Same two-phase process as the B2C licence: each phase decided within 8 weeks, extendable by up to 4 weeks per phase81n/a
Online Gaming Licence (B2C operating licence) under the LOKCuraçaoEUR 4,592 one-time (plus EUR 150 per UBO/qualified interest holder, EUR 2,551 per listed UBO)80EUR 128 administrative fee per changed or added UBO or qualified interest holder80Two-phase review (integrity/financial stability, then LOK regulatory requirements); each phase decided within 8 weeks, extendable by up to 4 weeks per phase: up to about 24 weeks in total81n/a
Critical Gaming Supply Licence (B2B Game Providers and Back Office)MaltaEUR 5,00082EUR 25,000 (annual revenue <= EUR 5,000,000), EUR 30,000 (EUR 5,000,000 to EUR 10,000,000), or EUR 35,000 (> EUR 10,000,000); EUR 10,000 for solely Type 482n/an/a
Gaming Service LicenceMaltaEUR 5,00083EUR 25,000 (EUR 10,000 if solely Type 4 controlled skill games) + tiered compliance contribution (and 5% gaming tax on Maltese player revenue)83n/an/a
Recognition Notice CertificateMaltaEUR 5,00084EUR 5,00084n/an/a
Financial Services Permission for Dealing in Investments as Principal (Category 2)Abu Dhabi Global Market (ADGM)USD 40,00085USD 50,00085Within a reasonable time from submission of a complete application2n/a
Financial Services Permission for Dealing in Investments as Agent or Matched Principal (Category 3A)Abu Dhabi Global Market (ADGM)n/aUSD 25,00085Within a reasonable time from submission of a complete application2n/a
Financial Services Permission for Advising on Investments or Arranging Deals in Investments (Category 4)Abu Dhabi Global Market (ADGM)n/an/aWithin a reasonable time from submission of a complete application2n/a
Financial Services Permission for Dealing in Investments as Principal (Category 2)Dubai International Financial Centre (DIFC)USD 40,0003USD 50,0003No statutory decision period: the Regulatory Law (Art. 48) only requires the DFSA to notify the applicant of its decision without undue delay4n/a
Financial Services Permission for Dealing in Investments as Agent or Operating an Alternative Trading System (Category 3A)Dubai International Financial Centre (DIFC)USD 25,0003USD 25,0003No statutory decision period: the Regulatory Law (Art. 48) only requires the DFSA to notify the applicant of its decision without undue delay4n/a
Financial Services Permission for Advising on Financial Products or Arranging Deals in Investments (Category 4)Dubai International Financial Centre (DIFC)USD 15,0003USD 15,0003No statutory decision period: the Regulatory Law (Art. 48) only requires the DFSA to notify the applicant of its decision without undue delay4n/a
Portfolio manager licenceSwitzerlandn/an/aNo fixed calendar deadline under Swiss administrative law (pre-assessed by a FINMA-recognised Supervisory Organisation prior to FINMA decree)86n/a
Securities firm licenceSwitzerlandn/aAnnual cost allocation levy based on balance sheet total and gross revenue under Art. 16 ff. FINMA-GebV6No fixed calendar deadline under Swiss administrative law68n/a
Cyprus Investment Firm (CIF) authorisationCyprusEUR 7,000 lump sum for core investment services (paragraphs 1-7 of Part I, Annex I of Law 87(I)/2017), plus EUR 25,000 for operating an MTF/OTF, EUR 500 per ancillary service, and EUR 2,000 if engaging in algorithmic trading87Fixed annual fee between EUR 5,000 and EUR 10,000 (depending on initial capital category), plus turnover surcharge above EUR 500,000 (0.75% up to EUR 1M, decreasing to 0.0975% above EUR 10M, capped at EUR 150,000 total), plus EUR 3,000 for CFD providers and EUR 2,000 for algorithmic trading876 months from receipt of a complete application88n/a
Investment Firm licenceCzech RepublicCZK 20,000 to CZK 100,000 depending on scope of investment services9n/a6 months from receipt of a complete application89n/a
Investment firm licenceGermanyEUR 6,336 or time spent10Annual cost allocation levy (Umlage) based on gross commission income326 months from receipt of a complete application90n/a
Authorisation as an investment firmEstoniaEUR 3,00012n/aWithin 2 months of receipt of complete information and documents, but no later than 6 months after initial receipt91n/a
AV) investment firm licenceSpainEUR 10,000 (Tarifa 4.1.1 for full ESI; plus EUR 300 registration fee under Tarifa 4.3)720.1% of eligible own funds (minimum EUR 500) under Tarifa 6.1.1, plus conduct supervision under Tarifa 6.6 (0.047% of gross income, minimum EUR 350, plus EUR 0.47 per client, minimum EUR 850)726 months from receipt of a complete application73n/a
Empresa de Asesoramiento Financiero (EAF) licenceSpainEUR 1,000 (Tarifa 4.2.3; plus EUR 300 registration fee under Tarifa 4.3)720.1% of own funds (minimum EUR 500) under Tarifa 6.1.2, plus conduct supervision under Tarifa 6.6736 months from receipt of a complete application73n/a
Financial investment adviser statusFrancen/aEUR 450 annual contribution to the AMF (Article D. 621-27 II 11°), collected via the single register ORIAS34n/an/a
MIFIDPRU Investment Firm Authorisation (Part 4A FSMA)United KingdomGBP 2,820 (Category 4 for advisory/corporate finance) to GBP 11,260 (Category 6 for MiFID investment managers or principal trading firms)52GBP 2,000 standard minimum fee (Fee-block A.0) plus variable levy based on funds under management (A.7), principal trading (A.10), or client assets (A.21)536 months from receipt of a complete application, or 12 months from receipt of an incomplete application under Section 55V of FSMA 200092Median elapsed determination time of 138 calendar days (Lower Quartile: 105 days, Upper Quartile: 183 days) across 310 Part 4A solo-regulated New Firm Authorisations determined in Q4 2025/2655
Type 1 Licence for Dealing in SecuritiesHong KongHKD 4,74093HKD 4,7409415 weeks from submission of a complete corporate application95SFC performance target: 15 weeks to process a complete corporate licence application (one target for all regulated activity types)93
Type 2 Licence for Dealing in Futures ContractsHong KongHKD 4,74093HKD 4,7409415 weeks from submission of a complete corporate application95SFC performance target: 15 weeks to process a complete corporate licence application (one target for all regulated activity types)93
Type 4 Licence for Advising on SecuritiesHong KongHKD 4,74093HKD 4,7409415 weeks from submission of a complete corporate application95SFC performance target: 15 weeks to process a complete corporate licence application (one target for all regulated activity types)93
Type 6 Licence for Advising on Corporate FinanceHong KongHKD 4,74093HKD 4,7409415 weeks from submission of a complete corporate application95SFC performance target: 15 weeks to process a complete corporate licence application (one target for all regulated activity types)93
Type 7 Licence for Providing Automated Trading ServicesHong KongHKD 4,74093HKD 4,7409415 weeks from submission of a complete corporate application95SFC performance target: 15 weeks to process a complete corporate licence application (one target for all regulated activity types)93
Investment Firm Authorisation (MiFID II)Irelandn/aSet by the firm's sub-category (D2 to D10) and PRISM impact rating under Category D of S.I. No. 348/202616n/an/a
Investment firm licence (SIM)Italyn/aEUR 5,890.00 plus 0.68% of revenues from investment services (capped at EUR 162,040.00 for revenues up to EUR 50m, EUR 195,800.00 up to EUR 100m, and EUR 222,810.00 over EUR 100m)366 months from receipt of a complete application96n/a
Investment firm authorisationLuxembourgEUR 50,00021EUR 24,750216 months from receipt of a complete application, maximum 12 months overall22n/a
Investment services licence (Category 1, 2, or 3)MaltaEUR 7,250 for Category 2 (holding client assets) or EUR 15,000 for Category 3 (dealing on own account)97EUR 7,600 minimum (Category 2) or EUR 17,500 minimum (Category 3) + EUR 700 per additional EUR 250,000 net revenue976 months from receipt of a complete application98n/a
Investment Dealer LicenceMauritiusUSD 500 to USD 3,25099n/aWithin 10 working days from the date an application is determined by the Commission to be complete, pursuant to Section 17B of the Financial Services Act 2007 (inserted by Act 11 of 2024, in force 1 October 2024)1004 to 7 months from initial submission to final licensing, accounting for preparation, due diligence vetting, and local operational substance establishment99
Securities Licensee licence (dealing in / advising on securities)Malaysia (Labuan)n/aUSD 1,500101n/an/a
Investment firm licence (Vergunning beleggingsonderneming) under Wft Article 2:96 and MiFID IINetherlandsEUR 200 per hour worked by the AFM, with a statutory maximum cap of EUR 100,000 for investment firm licences under Wft Art. 2:96 (Bbft 2019 Bijlage 2, code Wft.A1.18); MTF/OTF operation max EUR 100,000 (code Wft.A2.12); licence variation max EUR 50,000 (code Wft.A3.12); plus EUR 700 per person integrity and EUR 2,900 suitability vetting77EUR 0 base amount plus per-service modules under Regeling bekostiging financieel toezicht 2026 (e.g. reception/transmission of orders EUR 3,335, order execution EUR 10,001, portfolio management EUR 13,337, advice EUR 10,001) and a variable turnover-based component4313 weeks from receipt of a complete application under Wft Article 1:102, extendable while the AFM requests supplementary information102n/a
Brokerage House licence (dom maklerski)PolandEUR 4,500 equivalent in PLN103Up to 0.5% of average 3-year revenue, min EUR 7501042 months from a complete application105n/a
Securities Dealer's LicenceSeychellesn/aUSD 6,000 fixed annual licence fee from 2026 (due 31 January each year); for 2025 the fee was pro-rated by grant quarter from USD 3,250 to USD 6,000106n/an/a
Capital Markets Services (CMS) LicenceSingaporeSGD 1,000107SGD 2,000 to SGD 4,000107None stated in the Act1074 to 6 months for standard fund management (LFMC) or venture capital (VCFM), 6 to 9 months for broker-dealers108
Financial Services Provider licence - Category I (advice and/or intermediary services, non-discretionary, incl. crypto assets)South AfricaR2,697109levy per representative/key individual of R520-R551.20 for 2024/25 (Cat I/IV Long-Term Insurance subcategory A only: R250), plus other components; FSCA does not publish one flat annual fee110n/areported 8-12 weeks in practice, as the FSCA Licensing Committee meets once a month to approve licences111
Financial Services Provider licence - Category II (discretionary FSP)South AfricaR16,313109n/an/an/a
Non-bank Consumer Credit Provider licenceCzech RepublicCZK 50,000 (plus CZK 25,000 extension fee)9n/an/an/a
Crowdfunding Service Provider authorization under ECSPRCzech RepublicCZK 20,0009n/a3 months from receipt of a complete application112n/a
Authorisation for operating as a financial institutionEstoniaEUR 3,300113EUR 0 (no annual supervisory fee; no state fee applies for licence amendment)11360 working days as of the date of submission of the application114n/a
European crowdfunding service provider authorizationFrancen/aEUR 2,550 annual supervisory contribution (Article D. 621-27 II 12°)343 months from receipt of a complete application under Regulation (EU) 2020/1503 Art. 12(8)115n/a
European crowdfunding service provider authorization (ECSPR)Italyn/aEUR 10,375.00 for investment-based crowdfunding service, EUR 10,375.00 for lending-based crowdfunding service (+ EUR 10,375.00 if managing loan portfolios)363 months from receipt of a complete application (following a 25 working-day completeness review)115n/a
Crowdfunding service provider authorisationLuxembourgEUR 30,00021EUR 10,00021n/an/a
European Crowdfunding Service Provider (ECSPR) authorisation under Regulation (EU) 2020/1503NetherlandsEUR 200 per hour worked by the AFM, with a statutory maximum cap of EUR 75,000 for ECSPR authorisation under Regulation (EU) 2020/1503 Art. 12 (Bbft 2019 Bijlage 2, code EU.A1.07); plus EUR 700 integrity and EUR 2,900 suitability assessment per board member / 20%+ qualifying shareholder116Base supervisory levy plus variable component under the Regeling bekostiging financieel toezicht 2026 and Wbft 201911725 working days completeness assessment from receipt, followed by 3 months decision period once complete (Regulation (EU) 2020/1503 Art. 12(8))116n/a
Crowdfunding Service Provider authorization under ECSPRPolandn/aUp to 0.5% of average 3-year revenue, min EUR 750118n/an/a
Lending Institution registrationPolandPLN 616119n/an/an/a
Financial Services Permission for Providing Money Services restricted to Money Transmission only (Category 4)Dubai International Financial Centre (DIFC)USD 10,0003USD 10,0003No statutory decision period: the Regulatory Law (Art. 48) only requires the DFSA to notify the applicant of its decision without undue delay4n/a
Registration as a remittance service provider (remittance network provider or independent remittance dealer)AustraliaAUD 0 (no government application fee)120n/an/an/a
Money services business (MSB) registration (covers foreign exchange dealing, money transferring, virtual currency dealing, crowdfunding platforms and related services; a separate foreign-MSB registration applies to businesses without a place of business in Canada that direct services at Canadians)CanadaCAD 0 (no fee)121CAD 0 (no fee)121No fixed statutory maximum found; FINTRAC states most complete applications are processed within a target window (see observed)121The majority of complete applications are processed within three months of receipt of a complete application package; incomplete applications are closed and must be resubmitted.121
Registration of Money Services Business (Form 107 / RMSB)United StatesNo fee122n/aNone: Form 107 is a self-filed registration with no FinCEN approval or decision step; it must be filed within 180 days of the MSB being established122n/a
Retail Payment Services Licence (Categories I to IV)United Arab Emiratesn/an/a60 working days from the date of meeting all licensing conditions and requirements123n/a
Account Information Service Provider authorisationCzech RepublicCZK 25,0009n/a3 months from commencement of proceedings48n/a
Small-scale Payment Service Provider authorisationCzech RepublicCZK 10,0009n/a30 days (general administrative code deadline, extendable by 30 days)48n/a
Payment Institution licenceCzech RepublicCZK 50,0009n/a3 months from commencement of proceedings / complete application48n/a
Payment institution licenceGermanyEUR 13,523 or time spent10Annual cost allocation levy (Umlage) based on transaction volume323 months from receipt of complete application, maximum 12 months overall49n/a
Operating licence as a payment institutionEstoniaEUR 3,00012n/aWithin 3 months after all necessary documentation is received, and not later than 6 months after initial receipt50n/a
Payment institution authorizationSpainEUR 0 (The application and licensing procedure does not accrue any statutory fee)124EUR 0 (Banco de España does not levy annual supervisory fees on domestic PIs)1243 months from receipt of a complete application (maximum 12 months from initial filing; silence implies rejection)124n/a
Registered Account Information Service Provider (RAISP)United KingdomGBP 1,130 (Pricing Category 3)52GBP 646 extra periodic fee for registered account information service providers (Fee-block G.3)53n/an/a
Small Payment Institution (SPI) RegistrationUnited KingdomGBP 1,130 (Pricing Category 3)52GBP 646 extra periodic fee for small payment institutions (Fee-block G.3)53n/an/a
Authorised Payment Institution (API)United KingdomGBP 5,640 (Pricing Category 5 for payment services a-e) or GBP 2,820 (Pricing Category 4 for payment services f-h)52GBP 2,000 standard minimum fee (Fee-block A.0) plus GBP 646 extra fee for payment services providers (Fee-block G.3) plus variable levy based on relevant payment turnover533 months from receipt of a complete application, or 12 months from receipt of an incomplete application under Regulation 9 of PSRs 2017125Median elapsed determination time of 207 calendar days (Lower Quartile: 124 days, Upper Quartile: 269 days) across 44 cases (PS1-4 Payment Services & E-Money Authorisations) determined in Q4 2025/2655
Registration as a Payment Service Provider (PSP) with the National Bank of GeorgiaGeorgiaGEL 5,000 application review fee126n/an/aA law firm reports NBG allows 30 calendar days to fix incomplete documentation, then reviews a compliant application within 60 calendar days126
Payment Institution AuthorisationIrelandEUR 0 (No application fee)56Minimum levy of EUR 6,625 plus a variable levy based on the firm's share of all transactions processed (Category N, S.I. No. 348/2026)16n/an/a
Payment institution licenceLithuaniaEUR 898127max 0.65% of income (proposed 1% from 2027, min EUR 5,000 full / EUR 3,000 limited)583 months from receipt of a complete application128n/a
Payment institution authorisationLuxembourgEUR 30,00021EUR 30,000213 months from receipt of a complete application, maximum 12 months overall60n/a
Registered payment institutionLatviaEUR 2,500 (standard) or EUR 450 (innovative PSP)129EUR 1,000 plus up to 1.4% of gross revenue12915 working days completeness check, followed by 1 month decision period from receipt of complete application129n/a
Authorised payment institution licenceLatviaEUR 5,000 (standard) or EUR 450 (innovative PSP)130EUR 7,000 (or EUR 3,000 for AIS/PIS) plus up to 1.4% of gross revenue (or EUR 1,000 fixed for innovative PSPs in first 3 years)13015 working days completeness check, followed by 3 months decision period from receipt of complete application130n/a
Account information service provider registrationMaltaEUR 1,00063EUR 5,000 (on registration and each year)63n/an/a
Payment institution licenceMaltaEUR 10,00063EUR 15,000 + 0.02% of total assets (max EUR 250,000) for payment services only; EUR 25,000 base where e-money-related activity is added633 months from receipt of a complete application64n/a
Payment institution licence (Vergunning betaalinstelling)NetherlandsEUR 6,80026n/a3 months from receipt of a complete application131n/a
National Payment Institution licencePolandEUR 1,250 equivalent in PLN66n/a3 months from a complete application67n/a
Small Payment Institution registrationPolandPLN 616132n/a3 months from a complete application132n/a
Major Payment Institution LicenceSingaporeSGD 1,500133SGD 10,000133None stated in the Act (determined upon completion of assessment)134n/a
Standard Payment Institution LicenceSingaporeSGD 1,000133SGD 5,000133None stated in the Act (determined upon completion of assessment)134n/a
Payment institution licenceSlovakian/an/a3 months from receipt of a complete application, extendable by 1 month (Act No. 492/2009 Coll. on payment services, § 67(3))135n/a
Payment Token Issuer Licence (Dirham Payment Tokens)United Arab Emiratesn/an/a60 working days from the date of meeting all licensing conditions and requirements123n/a
Electronic money token issuer authorisation / notification under MiCA RegulationLuxembourgEUR 5,00021EUR 15,00021n/an/a
Asset-referenced token (ART) issuer licence under EU MiCANetherlandsEUR 10,00026n/a25 working days to assess completeness, then 60 working days to draft assessment for EBA/ECB, total statutory decision within 4 months30n/a
E-money token (EMT) issuer notification under EU MiCANetherlandsEUR 3,20026n/an/an/a
Authorisation for providing trust and company servicesEstoniaEUR 345113EUR 0 (no annual supervisory fee; no state fee applies for licence amendment)11360 working days as of the date of submission of the application114n/a
Trust office licence (Vergunning trustkantoor)NetherlandsEUR 4,50026n/an/an/a
Trust Company LicenceSingaporeSGD 1,000136SGD 4,000136n/an/a
Financial Services Permission with Virtual Asset Activities EndorsementAbu Dhabi Global Market (ADGM)USD 20,000137USD 15,000137No statutory deadline: FSMR sets no decision period for a new Financial Services Permission2n/a
Financial Services Permission with Crypto Token Activities EndorsementDubai International Financial Centre (DIFC)USD 15,000 to USD 150,000 depending on activity138USD 20,000 to USD 70,000+ depending on activity138No statutory decision period: the Regulatory Law (Art. 48) only requires the DFSA to notify the applicant of its decision without undue delay4n/a
Virtual Asset Advisory Services LicenceDubai (VARA)AED 40,000139AED 80,000139No fixed statutory determination deadline is prescribed by Law No. (4) of 2022 or Regulations 2023; VARA exercises discretionary review based on submission completeness.140n/a
Virtual Asset Broker-Dealer Services LicenceDubai (VARA)AED 100,000139AED 200,000139No fixed statutory determination deadline is prescribed by Law No. (4) of 2022 or Regulations 2023; VARA exercises discretionary review based on submission completeness.140n/a
Virtual Asset Custody Services LicenceDubai (VARA)AED 100,000139AED 200,000139No fixed statutory determination deadline is prescribed by Law No. (4) of 2022 or Regulations 2023; VARA exercises discretionary review based on submission completeness.140n/a
Virtual Asset Exchange Services LicenceDubai (VARA)AED 100,000139AED 200,000139No fixed statutory determination deadline is prescribed by Law No. (4) of 2022 or Regulations 2023; VARA exercises discretionary review based on submission completeness.140n/a
Virtual Asset Lending and Borrowing Services LicenceDubai (VARA)AED 100,000139AED 200,000139No fixed statutory determination deadline is prescribed by Law No. (4) of 2022 or Regulations 2023; VARA exercises discretionary review based on submission completeness.140n/a
Virtual Asset Management and Investment Services LicenceDubai (VARA)AED 100,000139AED 200,000139No fixed statutory determination deadline is prescribed by Law No. (4) of 2022 or Regulations 2023; VARA exercises discretionary review based on submission completeness.140n/a
Virtual Asset Transfer and Settlement Services LicenceDubai (VARA)AED 40,000139AED 80,000139No fixed statutory determination deadline is prescribed by Law No. (4) of 2022 or Regulations 2023; VARA exercises discretionary review based on submission completeness.140n/a
Registration as a virtual asset service provider (VASP) on the AUSTRAC Virtual Asset Service Provider Register (formerly the Digital Currency Exchange Register)AustraliaAUD 0 (no government application fee)120n/an/an/a
Financial intermediary / VASP SRO affiliationSwitzerlandSRO admission fees vary by SRO. PolyReg (a FINMA-recognised SRO that explicitly accepts Virtual Asset Service Providers) charges CHF 1,600 for a standard financial-intermediary member, or CHF 1,200 for an inactive/voluntary member; VASP applicants must also undergo a mandatory in-person pre-admission audit at additional hourly cost, with no postponement granted given crypto's elevated risk classification. A secondary source separately reports VQF's admission fee at around CHF 2,000.141PolyReg's published annual membership fee ranges from CHF 1,400 to CHF 5,800 depending on business size and membership status, plus recurring AML audit costs billed at CHF 250/hour, a one-off CHF 600 basic training fee, and CHF 400/year for continuing education.141No statutory decision deadline for SRO admission. VQF's own FAQ states it cannot give a binding processing time, since duration depends on how complete the application file is and how quickly the admission fee and documentation are provided.142n/a
Cryptoasset Business Registration (MLRs 2017)United KingdomGBP 11,260 (Pricing Category 6 for MLRs cryptoasset registration)52Periodic supervisory fee under Fee-block G (firms registered under MLRs 2017) based on cryptoasset revenue533 months from receipt of a complete application under Regulation 59(3A) of the Money Laundering Regulations 2017143Median elapsed determination time of 236 calendar days (Lower Quartile: 172 days, Upper Quartile: 302 days) across 7 cases closed in Q4 2025/26 (A1.3 5MLD registrations)55
Virtual Asset Service Provider LicenceCayman IslandsKYD 5,000144n/an/an/a
Virtual Asset Service Provider RegistrationCayman IslandsKYD 1,000 initial assessment fee145n/an/an/a
Virtual Asset Broker-Dealer (Class M)MauritiusMUR 2,000,000 minimum capital requirement146n/aNo fixed statutory deadline; Section 17C(2)(b) of the Financial Services Act 2007 explicitly exempts applications for licences under the Second Schedule to the VAITOS Act 2021 from the 10-working-day determination requirement in Section 17B100n/a
Virtual Asset Custodian (Class R)MauritiusMUR 5,000,000 minimum capital requirement146n/an/an/a
Virtual Asset Market Place (Class S)MauritiusMUR 6,500,000 minimum capital requirement146n/an/an/a
Virtual Asset Service Provider Licence / Registration (Wallet Provider, Exchange, Broking, Investment Provider) under the Virtual Asset Service Providers Act 2024SeychellesSCR 75,000 (licence application); SCR 22,500 (registration application)147SCR 75,000 base fee, plus an activity fee per licensed category: SCR 300,000 (Virtual Asset Wallet Provider), SCR 375,000 (Virtual Asset Exchange), SCR 150,000 (Virtual Asset Broking), SCR 75,000 (Virtual Asset Investment Provider); fees for multiple activities are additive147n/an/a
Proveedor de Servicios de Activos Digitales (PSAD) registrationEl SalvadorUSD 5,475148A secondary source states an annual fee of USD 3,650 applies after registration. This is consistent with Art. 12 of the Digital Assets Issuance Law, which (per the law dossier's extraction of the statute) sets the initial registration fee at 15 minimum monthly wages and the annual renewal fee at 10 minimum monthly wages: 15x and 10x El Salvador's minimum wage would produce almost exactly the USD 5,475 initial fee and USD 3,650 figure quoted here, but CNAD's own website does not itself publish an annual-fee amount, so this figure is not independently confirmed against a primary source in this session.14920 business days for CNAD to evaluate a complete PSAD application148n/a
Last verified 2026-09-29Author Danil Marmysh, Founder & CEO, ProtegraReviewed by Anastasia Sidorenkova, Head of Licensing, ProtegraReport an errorReference information, not legal advice.

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