SEBI has reduced significantly registration and renewal fees for both individuals and corporates.
Now, individuals and firms (partnership) will have to pay Rs 3,000 to obtain new license and Rs.1000 to renew existing license every five year.
For corporates including limited liability partnerships (LLPs), the registration fee is reduced to Rs 15,000 from Rs 5 lakh. Renewal fees has also come down from Rs.5 lakh to Rs.5000.
Registration fee at the time of grant of certificate
- For individual and firms: Now Rs 3,000 vs Rs 10,000 earlier
- For body corporate including LLP - Now Rs 15,000 vs Rs 5 lakh earlier
Renewal of certificate
- For individual and firms: Rs 1,000 vs Rs 10,000
- For body corporate including LLP - Rs 5,000 vs Rs 5 lakh
Moreover, applicants who want to know the status of RIA application will have to pay Rs.2000 (individuals) and Rs. 10,000 (corporates). The fee for such a request earlier was Rs.5000 for individuals and Rs. 25,000 for corporates.
Suresh Sadagopan of Ladder7 Financial Advisories feels that reduced fees is a big relief for RIAs since it is a recurring expense. He believes that reduced fees will attract many MFDs to go for RIA license.
