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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
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Fees Module (FER) [VER20/02-19]
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  • FER 2 Application Fees

    • FER 2.1 Application for a Licence

      • FER 2.1.1

        (1) An applicant applying for a LicenceG authorising it to carry on one or more Financial ServicesG specified in the left hand column of the table in (2) must pay to the DFSAG :
        (a) the highest of the corresponding fees in the right hand column of that table; plus
        (b) the fee in (3) if any of the specified factors apply.
        (2) This is the table referred to in (1):
        Accepting DepositsG or Providing CreditG . $70,000
        Dealing in Investments as PrincipalG (except as a matched principal). $40,000
        Effecting Contracts of InsuranceG or Carrying Out Contracts of InsuranceG (except as a Captive InsurerG , as a PCCG , or as an ISPVG ). $40,000
        Managing a Collective Investment FundG if any Fund to be managed is not a Qualified Investor FundG or an Investment CompanyG managed by its Corporate DirectorG . $10,000
        Managing a Collective Investment FundG if the Funds to be managed will only be Qualified Investor FundsG . $5,000
        Managing a Collective Investment FundG if it is an Investment CompanyG managed by its Corporate DirectorG . $5,000
        Dealing in InvestmentsG as a matched principal. $25,000
        Dealing in Investments as AgentG . $25,000
        Managing AssetsG . $25,000
        Providing CustodyG . $25,000
        Managing a Profit Sharing Investment AccountG . $25,000
        Providing Trust ServicesG (if it acts as trustee of one or more express trusts). $25,000
        Acting as the TrusteeG of a FundG . $25,000
        Arranging Deals in InvestmentsG . $15,000
        Advising on Financial ProductsG . $15,000
        Arranging CustodyG . $15,000
        Insurance IntermediationG . $15,000
        Insurance ManagementG . $15,000
        Providing Trust ServicesG (if it does not act as trustee of any express trust). $15,000
        Operating a Credit Rating AgencyG . $10,000
        Effecting Contracts of InsuranceG or Carrying Out Contracts of InsuranceG as a Captive InsurerG or as an ISPVG . $5,500
        Effecting Contracts of InsuranceG or Carrying Out Contracts of InsuranceG as a PCCG :  
           (a) for the core; and $8,000
           (b) for each cell $1,000
        Providing Fund AdministrationG . $15,000
        Arranging Credit and Advising on CreditG $15,000
        Operating a Crowdfunding Platform.G $5,000
        (3) An additional amount equal to 100% of the fee specified under (2) is payable if any one or more of the following factors apply:<
        (a) the applicant has a corporate structure with:
        (i) multiple levels (including the applicant's level); or
        (ii) Group members incorporated in two or more jurisdictions (excluding the DIFC);
        (b) the applicant has, or proposes to establish, a Holding Company in the DIFC;
        (c) the applicant is from a jurisdiction, or intends to carry on business from the DIFC in a jurisdiction, where there is no bilateral memorandum of understanding between the DFSA and the relevant Financial Services Regulator in that jurisdiction;
        (d) the DFSA will act as the consolidated prudential supervisor of the applicant's Financial Group; or
        (e) the DFSA will act as the lead supervisor of part of the applicant's Group.

        Derived from DFSA RM52/2007 (Made 1st December 2007). [VER1/12-07]
        [Amended] DFSA RM67/2009 (Made 25th November 2009). [VER3/11-09]
        [Amended] DFSA RM72/2010 (Made 11th July 2010) [VER4/07-10]
        [Amended] DFSA RM100/2012 (Made 24th July 2012) [VER6/07-12]
        [Amended] DFSA RM145/2014 (Made 1st January 2015) [VER9/01-15]
        [Amended] DFSA RM152/2015 (Made 10th June 2015). [VER10/06-15]
        [Amended] DSFA RM190/2016 (Made 7th December 2016). [VER13/02-17]
        [Amended] DSFA RM204/2017 (Made 14th June 2017). [VER15/08-17]
        [Amended] DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]
        [Amended] DFSA RM214/2018 (Made 22nd February 2018). [VER17/04-18]
        [Amended] DFSA RM228/2018 (Made 6th June 2018). [VER18/08-18]
        [Amended] DFSA RM222/2018 (Made 22nd February 2018). [VER19/12-18]

      • FER 2.1.2

        (1) An applicant applying for a LicenceG authorising it to carry on one or more of the Financial Services of Operating an ExchangeG and Operating a Clearing HouseG must pay to the DFSAG :
        (a) for Operating an ExchangeG an application fee of $150,000;
        (b) for Operating a Clearing HouseG , an application fee of $150,000; and
        (c) for Operating an ExchangeG and Operating a Clearing HouseG , an application fee of $300,000.
        (2) An applicant referred to in (1) applying for an endorsement to carry on the Financial Service of Operating an Alternative Trading SystemG must pay to the DFSAG an additional application fee of $65,000.
        Derived from DFSA RM52/2007 (Made 1st December 2007). [VER1/12-07]
        [Amended] DFSA RM152/2015 (Made 10th June 2015). [VER10/06-15]
        [Amended] DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

      • FER 2.1.3

        An applicant under FER Rule 2.1.2(a) or (c) seeking an endorsement to its LicenceG authorising it to maintain an Official List of SecuritiesG must pay to the DFSAG an additional application fee of $150,000.

        Derived from DFSA RM52/2007 (Made 1st December 2007). [VER1/12-07]
        [Amended] DFSA RM152/2015 (Made 10th June 2015). [VER10/06-15]

      • FER 2.1.4

        An applicant applying for a LicenceG authorising it to carry on the Financial ServiceG of Operating a Representative OfficeG must pay to the DFSAG an application fee of $4,000.

        [Added] DFSA RM67/2009 (Made 25th November 2009). [VER3/11-09]
        [Amended] DFSA RM145/2014 (Made 1st January 2015). [VER9/01-15]

      • FER 2.1.5

        An applicant for a LicenceG applying for an authorisation, or for an endorsement, to carry on the Financial Service of Operating an Alternative Trading SystemG must pay to the DFSAG an additional application fee of $65,000.

        [Added] DFSA RM145/2014 (Made 1st January 2015). [VER9/01-15]
        [Amended] DFSA RM152/2015 (Made 10th June 2015). [VER10/06-15]
        [Amended] DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

      • FER 2.1.6

        An applicant for a LicenceG must pay to the DFSAG the following additional fee for an application for the following endorsements:

        (a) to act as a Trade RepositoryG , $15,000;
        (b) to carry on a Financial ServiceG with or for a Retail ClientG , $20,000.
        Derived from DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

        • FER 2.1.6 Guidance

          Apart from the application fees specified for particular endorsements in Rules 2.1.2, 2.1.3, 2.1.5 and 2.1.6, fees are not payable for applications for other endorsements if made at the same time as an initial application for a LicenceG . However, if an application for an endorsement is made after a LicenceG has been granted, a fee will be payable – see for example Rule 2.2.5.

          Derived from DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

    • FER 2.2 Application to carry on additional Financial Services

      • FER 2.2 Guidance

        Section 2.2 applies to a PersonG that is already licensed (i.e. an Authorised FirmG or Authorised Market InstitutionG ), that applies for a further authorisation or endorsement.

        Derived from DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

      • FER 2.2.1

        An Authorised FirmG applying for authorisation to carry on additional Financial Services must pay to the DFSAG an application fee equal to the difference between:

        (a) the basic fee which would be payable under FER Rule 2.1.1 (1) if it were an applicant for a LicenceG in terms currently being sought; and
        (b) the basic fee which would be payable under FER Rule 2.1.1 (1) if it were an applicant for a LicenceG in terms of that currently held.

        Derived from DFSA RM52/2007 (Made 1st December 2007). [VER1/12-07]

      • FER 2.2.2

        An Authorised Market InstitutionG applying for authorisation to carry on an additional Financial ServiceG must pay to the DFSAG :

        (a) an application fee of $150,000 for the Financial ServiceG of Operating a Clearing HouseG ; or
        (b) an application fee of $150,000 for the Financial ServiceG of Operating an ExchangeG .

        Derived from DFSA RM52/2007 (Made 1st December 2007). [VER1/12-07]
        [Amended] DFSA RM152/2015 (Made 10th June 2015). [VER10/06-15]

      • FER 2.2.3

        An Authorised Market InstitutionG applying for an endorsement on its LicenceG authorising it to maintain an Official List of SecuritiesG must pay to the DFSAG an additional application fee of $150,000.


        Derived from DFSA RM152/2015 (Made 10th June 2015). [VER10/06-15]

      • FER 2.2.4

        An Authorised FirmG applying for an authorisation, or an Authorised Market InstitutionG applying for an endorsement, to carry on the additional Financial Service of Operating an Alternative Trading SystemG must pay to the DFSAG an additional application fee of $65,000.


        Derived from DFSA RM152/2015 (Made 10th June 2015). [VER10/06-15]

      • FER 2.2.5

        An Authorised PersonG must pay to the DFSAG the following fee for an application for the following endorsements:

        (a) to act as a Trade RepositoryG , $15,000;
        (b) to carry on a Financial ServiceG with or for a Retail ClientG , $20,000;
        (c) to conduct Islamic Financial BusinessG , $5,000;
        (d) to hold or control Client AssetsG , $5,000;
        (e) to hold Insurance MoniesG , $5,000;
        (f) to conduct Insurance IntermediationG activities in respect of contracts of Long-Term InsuranceG , $5,000.
        Derived from [Amended] DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

        • FER 2.2.5 Guidance

          Only paragraphs (a) and (c) of Rule 2.2.5 are relevant to Authorised Market InstitutionsG .

          Derived from DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

      • FER 2.2.6 [Deleted]

        [Deleted] DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

      • FER 2.2.6

        (1) If an Authorised FirmG applies to the DFSAG to change the scope of its Licence, and no fee is otherwise payable under this section for the application, the Authorised FirmG must pay to the DFSAG an application fee of $10,000 for the application.
        (2) Paragraph (1) does not apply to an application that is only to remove an authorisation, endorsement, activity or financial product from a LicenceG .

        [Added] DFSA RM145/2014 (Made 1st January 2015). [VER9/01-15]
        [Amended] DFSA RM152/2015 (Made 10th June 2015). [VER10/06-15]
        [Amended] DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]
        [Amended] DFSA RM214/2018 (Made 22nd February 2018). [VER17/04-18]

        • Guidance

          The reference to a change to the "scope" of a LicenceG covers any change to an authorisation, endorsement, activity, financial product, restriction or condition on the LicenceG (for which an application fee is not otherwise payable under this section). For example, an application to amend or remove a restriction on the LicenceG or to enable a firm to deal in DebenturesG instead of SharesG or to add a product to the list of InvestmentsG that the firm may advise on.

          Derived from DFSA RM214/2018 (Made 22nd February 2018). [VER17/04-18]

    • FER 2.3 Application to register as a Registered Auditor or Audit Principal

      • FER 2.3.1

        An applicant for registration as a Registered AuditorG must pay to the DFSAG an application fee of $7,000.

        Derived from DFSA RM52/2007 (Made 1st December 2007). [VER1/12-07]
        [Amended] DFSA RM141/2014 (Made 21st August 2014). [VER8/06-14]
        [Amended] DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

      • FER 2.3.2

        (1) An applicant for registration as an Audit PrincipalG must pay to the DFSAG an application fee of $500.
        (2) The fee in (1) does not apply to an application that is made in conjunction with an application for registration as a Registered AuditorG .
        Derived from DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

    • FER 2.4 Application to register a Public Fund

      • FER 2.4.1

        The Fund ManagerG or the PersonG proposing to be the Fund ManagerG of a Domestic FundG which is a Public FundG , who is applying to register the FundG , must pay to the DFSAG an application fee of $1,000.

        Derived from DFSA RM52/2007 (Made 1st December 2007). [VER1/12-07]
        [Amended] DFSA RM72/2010 (Made 11th July 2010) [VER4/07-10]
        [Amended] DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]
        [Amended] DFSA RM228/2018 (Made 6th June 2018). [VER18/08-18]

    • FER 2.5 Notification of intention to be a Passported Fund

      • FER 2.5.1

        (1) A Fund ManagerG of a Domestic FundG notifying the DFSAG of its intention to be a Passported FundG , must pay to the DFSAG a notification fee of $9,500.

        (2) For the purposes of calculating the fee under (1), if the FundG is an umbrella fund, including, without limitation, a segregated portfolio company or cell company, a fee must be paid for each sub-fund, segregated portfolio or cell, as the case may be, instead of for the umbrella fund, segregated portfolio company or cell company.

        Derived from DFSA RM237/2019 (Made 20th February 2019). [VER20/02-19]

        • FER 2.5.1 Guidance

          The fee in FER Rule 2.5.1 is payable only where the DFSAG is the Home RegulatorG of the relevant Domestic FundG that intends to use the passporting procedures (see FPR section 7).

    • FER 2.5 [deleted]

      • FER 2.5.1 [deleted]

        [Deleted] DFSA RM72/2010 (Made 11th July 2010) [VER4/07-10]

    • FER 2.6 Application for Recognition as a Recognised Body or Recognised Member

      • FER 2.6.1

        An applicant for RecognitionG as a Recognised BodyG must pay to the DFSAG an application fee of $15,000.


        Derived from DFSA RM52/2007 (Made 1st December 2007). [VER1/12-07]
        [Amended] DFSA RM152/2015 (Made 10th June 2015). [VER10/06-15]

      • FER 2.6.2

        An applicant for RecognitionG as a Recognised MemberG must pay to the DFSAG an application fee of $1,000.

        Derived from DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

    • FER 2.7 Applications relating to Authorised Individuals and Key Individuals

      • FER 2.7.1

        An Authorised FirmG applying to the DFSA:

        (a) for Authorised IndividualG status for an individual;
        (b) to amend an Authorised Individual's authorisation to include a new Licensed FunctionG ; or
        (c) to substitute one Authorised IndividualG for another performing a particular Licensed FunctionG in the Authorised FirmG ,

        must pay to the DFSAG an application fee of $500 for each Authorised IndividualG for whom it is seeking authorisation; to amend the scope of his authorisation; or to substitute as an Authorised IndividualG (as the case may be).

        [Added] DFSA RM145/2014 (Made 1st January 2015). [VER9/01-15]
        [Amended] DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

      • FER 2.7.2

        An Authorised Market InstitutionG applying to the DFSAG :

        (a) for Key IndividualG status for an individual;
        (b) to amend a Key Individual'sG authorisation to include a new Licensed FunctionG ; or
        (c) to substitute one Key IndividualG for another performing a particular Licensed FunctionG in the Authorised Market InstitutionG ,

        must pay to the DFSAG an application fee of $500 for each Key IndividualG for whom it is seeking authorisation; to amend the scope of his authorisation; or to substitute as a Key IndividualG (as the case may be).

        Derived from DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

        • FER 2.7.2 Guidance

          Rules 2.7.1 and 2.7.2 apply if a PersonG is already licensed by the DFSAG and applies to add or change an Authorised IndividualG or Key IndividualG . A fee is not payable for an application for Authorised IndividualG or Key IndividualG status if the application is made at the same time as an initial application for a LicenceG .

          Derived from DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

    • FER 2.8 Application to add a new cell to an existing PCC

      • FER 2.8.1

        A Licenced PCCG applying to add one or more new cells must pay to the DFSAG $1,000 in respect of each cell to be added.

        [Added] DFSA RM67/2009 (Made 25th November 2009). [VER3/11-09]

    • FER 2.9 Application for admittance of Securities to the Official List

      • FER 2.9.1

        An applicant for admission of SecuritiesG to the Official List of SecuritiesG must pay to the DFSAG an application fee of $2,500.

        [Added] DFSA RM83/2011 (Made 30th November 2011). [VER5/11-11]
        [Amended] DFSA RM152/2015 (Made 10th June 2015). [VER10/06-15]

        • FER 2.9.1 Guidance

          An applicant for admission of SecuritiesG to the Official List of SecuritiesG under Rule 2.9.1 may include an applicant who is an Exempt Offeror (as defined in Article 13(2) of the Markets Law)..


          Derived from DFSA RM152/2015 (Made 10th June 2015). [VER10/06-15]

    • FER 2.10 Application Relating to a Business Transfer Scheme

      • FER 2.10.1

        An Authorised FirmG applying under GEN Rule 12.1.5 for DFSAG consent to a transfer scheme must pay to the DFSAG an application fee of $5,000.

        [Added] RM159/2015 (Made 9th December 2015). [VER11/02-16]

    • FER 2.11 Application for a waiver or modification

      • FER 2.11.1

        (1) An applicant for a waiver or modification of any RuleG in the RulebookG or any ArticleG of the Markets LawG must pay to the DFSAG an application fee of $5,000 if, in the DFSA's opinion, the application involves an issue that is novel or complex or will for any other reason require the DFSAG to spend a significant amount of time on the application.
        (2) The fee in (1) does not apply if the application for a waiver or modification is made in conjunction with an application for a LicenceG .
        Derived from DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]

        • FER 2.11.1 Guidance

          The DFSAG will in some cases determine that a waiver or modification should be standardised, that is, made available to any applicant meeting certain criteria. No fee will be required for an application for a standard waiver or modification. In other cases, the DFSAG will assess on a case-by-case basis whether the criteria for a fee set out in Rule 2.11.1 apply.

          Derived from DFSA RM207/2017 (Made 14th June 2017). [VER16/01-18]