Knowledge & community
Frequently asked questions
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Do I need to incorporate before applying?
No. The application and suitability review can begin before incorporation, but a license can be issued only to a body corporate.
The application fee does not cover incorporation costs.
Does the company need a local presence?
The Commission may also set requirements for local staffing, representatives, accounting or records access in proportion to your activities.
Who is vetted?
Every ultimate beneficial owner holding 10% or more, and every Key Person. The review covers integrity, reputation, competence, financial standing, source of wealth and funds, criminal and regulatory history, and business associations.
How long does the application process take?
The Regulations do not set a fixed processing time.
The time required depends on the completeness of your application, the suitability checks involved and any additional information the Commission needs.
Submitting complete, accurate documents and responding promptly to requests helps the review progress. Applicants seeking provisional authorisation must meet its separate eligibility requirements; approval remains at the Commission’s discretion.
What are the fees?
| Fee | Amount |
|---|---|
| Application fee | €3,800, one-time and non-refundable |
| Annual license fee | €20,000, including one domain |
| Annual compliance fee | €3,500 |
| Additional domains | €250 per domain per year, up to €10,000, after which no fee will apply for any further additional domains |
The Commission may set different fees by published fee schedule.
When are fees due?
License and compliance fees are due within 15 days after you are notified that the license is ready for issue, and then annually in advance on each anniversary. If you pay the license fee quarterly, instalments follow every three months in advance. Additional domain fees are due on registration or approval and then annually.
Are fees payable during a Provisional License?
Yes, from issue of the Provisional License. Amounts paid are credited against the Full License for the same period.
Are fees refundable?
The application fee is non-refundable, including if you withdraw or are refused. Other fees are non-refundable except where the law requires or the Commission expressly decides otherwise.
Could I be asked for a financial guarantee?
Yes. Where there are reasonable grounds to believe a licensee is not operating in line with the rules or may fail to meet its financial obligations, the Commission may require an autonomous, irrevocable bank guarantee or other security. It sets the amount.