IFSCA vide circular dated July 03, 2024 has issued Clarifications for existing BATF Service providers under IFSCA Ancillary Service Framework. The existing ancillary services providers, who are currently undertaking Bookkeeping, Accounting, Taxation or Financial Crime Compliance Services from IFSC and have communicated to IFSCA about their willingness to operate under BATF Regulations for the same activity, are not required to pay application fees for the same activity.
Further, for the above-mentioned entities, applicable Annual Fees/Recurring Fees under the BATF regulation will be adjusted to the extent of fees already paid by the entity under the ancillary services framework from the date of submission of willingness.
