SAE Fees

Minimum Standard Annual Expenses (SAE) ​

Minimum Standard Annual Expenses (SAE) table

Update: 1 September 2022
Fees quoted in US dollars
* Denotes foreign currency calculation
Jurisdiction Government Annual Fee Local Agent Fee Total Fees Total SAE 
(Total Fees + $100 Deviation Risk Fee)
Bahamas
International Business Company (IBC)  ≤  50K shares $350 $500 $850 $950
International Business Company (IBC)  >  50K shares $1,000 $500 $1,500 $1,600
Ordinary company $1,100 $500 $1,600 $1,700
British Virgin Islands
≤  50K shares $635 $425 $1,060 $1,160
>  50K shares $1,385 $425 $1,810 $1,910
Cayman Islands *
Non Resident  ≤  42K shares $823 $1,140 $1,963 $2,063
Non Resident  42K - 10,000,000,000K shares $1,116 $1,140 $2,256 $2,356
Exempt  ≤  42K shares  $854 $1,140 $1,994 $2,094
Exempt  42K - 820K shares $1,220 $1,140 $2,360 $2,460
Exempt  820K - 1,640K shares $2,420 $1,140 $3,560 $3,660
Exempt  1,640K - 10,000,000,000K shares $3,132 $1,140 $4,272 $4,372
Delaware
Limited Liability Company (LLC) $300 $215 $515 $615
Corporation $225 $290 $515 $615
Jersey * $313 $500 $813 $913
Jersey administered or Jersey tax resident PIC*
International services entity (ISE) $348      
Data processing registration fee $58      
Total CJL SAE (Charged In addition to SAE where PIC incorporated.) $406 $100 $506 $606
Panama $300 $535 $835 $935
Scotland *
New State Structure $20 $151 $171 $271
Singapore * $0 $4,638 $4,638 $4,738

  1. For entities in other jurisdictions, Cititrust may make similar arrangements with service providers and charge a minimum standard annual expense.
  2. Fees and expenses are subject to change without notice and are nonrefundable.
  3. Local agent fees cover annual services by one or more local providers, such as registered agent service.
  4. For Singapore companies local agent fees include registered agent fees, resident director fees, goods and services tax, and filing fees.
  5. Local agent fees do not include other expenses, such as legal fees for legal advice.
  6. The $100 per PIC Deviation Risk Fee is collected by Citi Trust to protect against miscellaneous costs, such as foreign exchange variations.
  7. In addition, Cititrust may charge for taxes levied due to the residence of a settlor, beneficiary, or client.
  8. Cititrust may without notice set off any liability to a Client, PIC, or Trust against any fees or liabilities owed to Cititrust by a Client, PIC or Trust.
  9. Your Trust Officer can provide details.


Annual Economic Substance Special Activity Fees


Annual Economic Substance Special Activity Fees table

Update: 1 September 2022
Relevant Activity in Calendar Year
Annual Economic Substance Special Activity Fee
No Relevant Activity $500
Pure Equity Holding Company $1,000
Any Other Relevant Activity $5,000


Minimum Standard Liquidation Expenses (SLE)

Minimum Standard Liquidation Expenses (SLE) table

Update: 1 September 2022
Fees quoted in US dollars unless otherwise noted
* Denotes foreign currency calculation
Jurisdiction Filing/Publication Fee Local Agent Fee Total SLE 2021 Total SLE Difference 2021 to 2022
Bahamas $490 $250 $740 $465 $275
BVI $400 $1,300 $1,700 $3,115 -$1,415
Cayman Islands $1,000 $0 $1,000 $2,500 -$1,500
Delaware
LLC $250 $205 $455 $1,035 -$580
Corporation $60 $205 $265 $540 -$275
Jersey $0 $0 $0 $0 $0
Scotland *
New State Structure $0 $232 $232 $1,404 -$1,172
Singapore*
Strike Off $0 $1,216 $1,216 $1,365 -$150
Liquidation $0 $7,150 $7,150 $8,292 -$1,142

  1. Local Agent charges may include filing and publication charges.
  2. For entities in other jurisdictions, Cititrust may make similar arrangements with service providers and charge a minimum corporate services fee.
  3. Local agent fees do not include other expenses, such as legal fees for legal advice.
  4. Your Trust Officer can provide details.
This information is provided solely to illustrate the wide variety of services, fees and expenses that Cititrust arranges and bundles for its clients. This information creates no rights, and varies no person’s rights to compensation, payment, and reimbursement.
 
*Foreign exchange rates 1 September 2022
1 CI$   = 1.2195 USD
1 GBP = 1.1599 USD
1 SGD = 0.7150 USD