IFSCA Notifies Fee Structure for KYC Registration Agencies

Circular No. IFSCA/CMD/DMIIT/KRA/2025-26/1, Dated: 13.06.2025

The International Financial Services Centres Authority (IFSCA) has announced the fee structure applicable to KYC Registration Agencies (KRAs) under the recently notified KYC Registration Agency Regulations, 2025. These regulations were notified on April 16, 2025, and lay the foundation for a regulated and standardised KYC ecosystem within IFSCs.

1. Applicable Fees for KYC Registration Agencies

Entities seeking registration as a KRA under the IFSCA framework will be required to pay the following fees:

• Application Fee – USD 1,000
• Registration Fee – USD 5,000
• Annual Fee – USD 5,000

2. Payment Schedule and Conditions

• The Application Fee of USD 1,000 must be paid at the time of submission of the application for registration as a KRA.
• Upon receipt of provisional or in-principle approval from the Authority, the applicant shall pay the Registration Fee of USD 5,000 within 15 days of such intimation.
• The Annual Fee of USD 5,000 is payable every financial year to maintain the registration status.

3. Objective of the Regulation

The fee structure aims to:

• Ensure regulatory accountability and financial commitment from KRAs;
• Standardise the operational framework of KYC service providers in IFSCs;
• Encourage robust KYC compliance through regulated intermediaries.

4. Conclusion

With this notification, IFSCA has taken another step towards establishing a well-regulated and transparent financial services ecosystem in IFSCs. Entities intending to function as KRAs should ensure timely compliance with the prescribed fee and procedural requirements to secure and maintain their registration.

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