Fees and charges for cross-border marketing of UCITS and AIFs in Norway
With effect from January 1st 2024, the Financial Supervisory Authority of Norway has introduced fees for cross border notifications of UCITS and AIFs in Norway, as well as marketing applications under the private placement regime.
The fees must be paid for each new AIF/UCITS and/or compartment. In addition, changes to the management company will be regarded as a new notification, and require a new fee to be paid. The rules apply to foreign managers of UCITS and AIFs, as Norwegian managers are already subject to supervisory fees.
Application/notification | Fee |
| UCITS article 93 notification | NOK 5 000 |
| AIFMD Article 32 notification | NOK 5 000 |
| AIFMD Article 36 application | NOK 8 000 |
| AIFMD Article 42 application | NOK 15 000 |
| AIFMD Article 43 application | NOK 25 000 |
| Application to market non-UCITS securities funds to non-professional investors (Securities funds act section 9-4) | NOK 25 000 |
All non-Norwegian managers of UCITS and AIFs listed in the NFSA registry may in addition to the above be billed an annual fee of up to NOK 10 000. The fee will be sent to the registered address connected to the managers LEI. The bill will be issued in May 2024, and applies to all foreign managers listed in the NFSA registry by 31st December 2023. Marketed funds will be deregistered if the bill is not paid. The final size of the ongoing fee remains somewhat unclear.
Managers listed in the NFSA registry should ensure that the registry is up to date in order to avoid an unnecessary burdensome dialogue when the bill is issued. In addition, managers should ensure that the LEI registered in the NFSA registry is up to date, and be aware that the bill will be sent to the registered address connected to the LEI.
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