Deposit-Taking Business Fees Notice 2025

Summary

This notice sets the fees payable by deposit-taking businesses registered (or applying for registration) under the Banking Business (Jersey) Law 1991. The fees apply for the period 1 February 2025 to 31 December 2025 and cover application fees, annual fees, reduced fees for business continuity registrations, and late payment or late filing charges.

• Application fee: A person applying to be registered under the Law must pay £29,359 on application, plus the annual fee once the application is granted.
• Annual fee components: The annual fee is the sum of components of £29,359 for each qualifying overseas country of operation or subsidiary (where JFSC is home supervisor), plus a Consolidated Income based component ranging from £83,589 (income up to £5m) to £139,783 (income over £20m).
• Advanced approaches surcharge: Where a Jersey incorporated registered person has adopted advanced approaches to credit risk, the JFSC may add a further component to cover its costs of supervising that work.
• Partial year applications: If registration is granted for less than a full year, the annual fee is pro rated at one eleventh of the annual fee per month from grant until the next 1 January.
• Business continuity reductions: Applications for registration solely to use a group member's Jersey facilities for business continuity purposes qualify for a 50% reduction in the application fee, and equivalent registrations qualify for a 50% reduction in the annual fee (subject to the balance becoming payable if disruption actually occurs and continuity operations begin).
• Late payment fee: Failure to pay a fee by its due date triggers an additional 5% late payment fee on the unpaid principal, applied the day after the due date and again on the first day of each subsequent calendar month.
• Late filing fee: Failure to file or deliver a required document by its due date incurs a £100 fee for each complete month or part month it remains outstanding, unless the JFSC has agreed in writing to a later filing date.

Consolidated Income and Deemed Income calculations use prescribed reference periods depending on whether the person is applying for registration, newly registered, or already established, and must be calculated on a consolidated basis if the person has banking subsidiaries.

Key obligations

• Applicants for deposit-taking registration must pay £29,359 on application, plus the annual fee once the application is granted.
• Registered persons must pay the annual fee by the due date specified in the JFSC invoice.
• Registered persons must recalculate and notify the JFSC of a revised annual fee if a new overseas operation increases a relevant fee factor before the end of the annual fee period.
• Registered persons who fail to pay a fee by the due date must pay an additional late payment fee of 5% of the unpaid amount, recurring monthly until paid.
• Registered persons who fail to file or deliver a required document on time must pay £100 for each complete or partial month of delay, unless the JFSC has agreed in writing to a later filing date.
• Where a business continuity registration ceases to be solely for that purpose because disruption occurs and continuity operations begin, the balance of the full annual fee becomes payable.

Applies to

deposit-taking business, registered persons under the Banking Business (Jersey) Law 1991, applicants for deposit-taking business registration

Deadlines

• 1 February 2025 to 31 December 2025: Period for which the fees set out in this notice are effective (the annual fee period).
• due date: Annual fee for a registered person is payable by the due date specified in the fee notice or JFSC invoice; late payment triggers a 5% surcharge.
• day after due date, and 1st of each subsequent calendar month: Late payment fee of 5% of unpaid principal is applied.
• per complete or part month of delay: Late filing fee of £100 accrues for each month or part month a required document remains unfiled or undelivered past its due date.
• 31 December 2023 (or specified alternative periods): Reference calendar year for calculating total income, total operating expenses and total assets used in Consolidated Income calculations, subject to alternative periods for new applicants or newly operating businesses.

Related documents

• This document replaces Deposit-Taking Business Fees Notice 2023
• JFSC Fees Notice 2026 replaces this document