(1) A Fund Manager must pay to the DFSA in respect of each Domestic Fund for which it is the Fund Manager the initial annual fee prescribed in (3) for the period immediately following registration or notification until the end of the year.
(2) The initial annual fee must be paid to the DFSA
(a) in the case of a Public Fund, at the time of registration; and
(b) in the case of an Exempt Fund
or Qualified Investor Fund
, at the time of notification to the DFSA
pursuant to Article 34
of the Collective Investment Law 2010.
(3) The initial annual fee is $1000 for a Venture Capital Fund or $4,000 for any other type of Fund, multiplied in either case by the number of whole months between the date of registration or notification and the end of the calendar year and then divided by 12.