Schedule of Fees and Charges

Corporate Service Fees

One-off fees (1)
Incorporation of a standard Jersey Company	from £2,000
Transfer in of an existing Company	from £1,000
Dissolution or Transfer out	from £1,500
Annual responsibility fees (2)
Provision of Registered Office and Company Secretary	£3,000
Provision of Registered Office and Company Secretary and Corporate Director	£3,500
Annual Compliance Monitoring (3)	from £500
Activity fees
Annual registration for Data Protection (excludes JOIC fee)	£100
Annual registration of Company as an ISE (excludes ISE fee)	£150
Prepare and Submit Annual Confirmation Statement (excludes Annual Confirmation Statement fee)	£150
Administration (see note)	Time Charge

Administration charges are payable on a time spent basis in addition to the above responsibility fees for the provision of a Registered Office or for the holding of the office of Director and/or Company Secretary.

Forward Group Limited does not levy a minimum charge for administration, however, clients are generally advised to allow £1,000 a year to cover any regulatory mandated reviews, and general administration time required even in respect of an inactive or dormant entity.

Dissolution and transfer out fees relate solely to the statutory filing requirements and excludes any work in relation to the transfer or realisation of assets and liabilities.

Corporate Disbursements

Fees shown above do not include third party or statutory fees, including:

Company incorporation fee payable to JFSC (from £165 – £670 on incorporation depending on required speed of delivery)
Company confirmation statement, currently £270 per year
International Service Entity registration fee, currently £300 per year
Registration with the information commissioner, currently £50 per year

Trust Service Fees

One-off fees (1)	From
Fees for arranging the preparation and engrossment of a Standard Trust instrument, including the establishment of the principal records of the Trust and to assist with a Letter of Wishes.	£3,000
Transfer in of an existing Trust, including the execution of any required Deeds of Retirement and Appointment	£2,000
Annual responsibility fees (2)
Provision of a Corporate Trustee	£3,000
Annual Compliance Monitoring Fee (3)	£500
Activity fees (4)
Administration (see below)	Time Charge

Administration charges are payable on a time spent basis in addition to the above responsibility fees for the holding of the office of Trustee.

Trust Disbursements

Fees shown above do not include third party fees, including legal fees in the drafting of trust deeds, deeds of retirement and appointments, letter of wishes or other legal documentation or for external investment performance reviews etc.

Time Charges

Time is chargeable in units of 6 minutes at the following standard hourly rates:

Director / Associate Director	£315 – £325
Manager / Senior Manager	£275 – £315
Assistant Administrator / Administrator / Senior Administrator	£150 – £275
Bookkeeping / Client Accounting	£175 – £275

Time charges are generally levied either quarterly or monthly in arrears. Rates are the usual charge-out rates for that grade of staff but should be considered indicative only as not all job titles or staff grades are shown, and in certain cases charge out rates may be uplifted, or reduced, depending on the specialist nature or risk of the work undertaken (e.g. work in relation to litigation claims is charged out by directors at £400/hr).

Accountancy and Taxation

Preparation of annual accounts	from £1,000
Annual FATCA / CRS classification / verification per entity	£250
Responsible officer for a financial institution (per yr)	£500
Complete a Jersey Tax return	from £350

Notes on Fees and Charges

One-off fees (1)

Take on and formation fees
One off fees are generally fixed, however, where a license for a company, or the company has other risk factors, is involved in sensitive activities, or is a more complex trust arrangement, and where during our onboarding process, subsequent to the issuance of a fee proposal, discover that further investigations are necessary or other high-risk factors are encountered, then the fee may increase with the time spent.

Annual fees (2)

Annual responsibility fees
Annual responsibility fees are the fee for the holding of a particular office only. The fee represents the core cost of being able to offer that service and excludes any work in that capacity, which is billed separately as an activity fee.

Compliance Monitoring fees (3)
Compliance monitoring fees represent the costs of monitoring ongoing compliance matters, such as the ongoing screening and sanctions monitoring required by law on controllers, directors, beneficiaries, settlors, protectors or other connected entities.

Compliance monitoring fees are risk-adjusted by entity and structure to account for any higher-risk factors such as higher risk or sensitive activities, or for structures involving certain high profile or politically exposed persons. Where a large structure is under common ownership or control then monitoring fees can be capped across the structure.

The compliance monitoring fee does not include the time spent in respect of annual file or other regulatory mandated periodic reviews or from trigger events, nor any time spent in resolving any matters identified during those reviews, which are invoiced as activity fees.

Activity fees (4)

Activity fees may be time charged, fixed for a period or for a particular piece of work, or a mixture such that only some administrative activity elements are scoped within a fixed fee arrangement and others charged on a time spent basis.

In the event a structure terminates, winds up or transfers out part way through a billing period any fees paid are not pro-rated or refundable.

Fixed administration fees
Fixed administration fees are available by negotiation. Where administration work is chargeable on a fixed fee basis, then invoices will be due and payable in advance for the year.

Time charged activity fees
Where administration work is chargeable on a time spend basis, then invoices will be due and payable monthly or quarterly in arrears depending on the level of activity.

Accountancy and taxation
Preparation of financial statements for most entities under administration is an annual requirement. Entities may also have annual or periodic tax filing or other reporting obligations, for example, certain structures require reporting in Jersey under FATCA or CRS.

Fees for accountancy and tax related services are generally charged on a fixed fee basis, as and when those services are delivered. Bookkeeping fees are charged along with standard administration fees.

Notes

Billing Cycles
Annual fees and fixed administration fees are normally referenced to the standard calendar year. Time charges and ad-hoc activity fees are normally billed quarterly in arrears.

On establishment or transfer in any Annual Fees and Compliance Monitoring Fees are raised for a full year from the date of invoice. In the following January any unbilled period falling due in that calendar year will be invoiced on a pro-rated basis. The January invoicing aligns the billing period to the calendar year such that subsequent January invoices relate to a full year being the calendar year.

Statutory and any associated activity fees for the upcoming year are invoiced in the 3^rd quarter to ensure that the company statutory returns can be filed and paid in accordance with statutory deadlines.

General
Please contact us for fees in relation to Partnerships and Foundations.

Forward Group reserves the right to adjust the above fees for inflation or other factors in subsequent years. Where fixed fee arrangements prove to be highly variant to the actual time costs then Forward Group would expect to have a discussion with the client to ensure that an equitable arrangement is maintained.

Fee proposals should be read in conjunction with our General Terms and Conditions which are available on our website here: https://forwardjersey.com/download/terms/