These additional late Registry submission fees from the Jersey Financial Services Commission will increase on a sliding scale in line with existing late fees, followed by notice of strike-off after six months in default.
There will be no fee for providing the information or documents in time.
The introduction of these fees follows a consultation published in December 2021.
The JFSC said the fees were not about raising income but would instead help with its commitment to meet international standards on anti-money laundering and combating the financing of terrorism.
Meanwhile, the Commission has increased the fees for Designated Non-financial Businesses and Professions and Trust Company Businesses by 8.5%.
In November 2021, the JFSC had asked the industry for feedback on the proposed changes.
“This increase will ensure that we are financially fit for the future,” they said. “This includes allowing us to continue to invest in evolving our technology platforms along with our people to ensure we are working as efficiently as possible.”
The revised fees took effect from 1 January 2022 and relevant businesses will receive notification via the JFSC online portal that an invoice is ready for them.