What are the fees I have to pay for a certification of exemption? What is the validity period of the exemption?
Depending on the business activity exempted, the fees may range from $1,000 to $4,000 per year. The exemption is valid for a period up to a maximum of 3 years.
Class | Class of Exemption | Annual fee |
(i) | Where the person exempted carries on the business of moneylending solely by granting personal or consumer loans to individuals. | $3,000 |
(ii) | Where the person exempted carries on the business of moneylending solely by granting loans other than those specified in paragraph (i) above. | $1,000 |
(iii) | Where the person exempted carries on the business of moneylending to persons referred to in paragraphs (i) and (ii). | $4,000 |
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