Fees are payable on application for approval as an ESM advisor and for continued inclusion on the register of ESM advisors. The fees for ESM advisors are as follows:

(a) Application fee         €5,000

(b) Annual fee               €5,000

The above fees are subject to VAT at the current rate.

The application fee is non-refundable and is payable when the application is submitted.

The annual fee for the first year is payable on approval of the application to become an ESM advisor.