Fund Distribution Alert 2022-05

Poland – Updated fees to be levied by the KNF 2022

Poland – Updated fees to be levied by the KNF 2022

On 13 January 2022, the Polish Financial Supervisory Authority (“PFSA”, or “KNF” in Polish) published updated information on fees and charges following a new Regulation of 23 December 2021 which amended the Polish Regulation on Fees to Cover the Costs of Capital Market Supervision.

As per the Regulation, the fees due by foreign UCITS and AIF are as follows:

 

REGISTRATION FEES

MAINTENANCE FEES(1)

Single UCITS

under EU Member State law

PLN equivalent of EUR 2,000

PLN equivalent of EUR 1,000

Umbrella UCITS

under EU Member State law

PLN equivalent of EUR 2,000 + PLN equivalent of EUR 300 as from the 2nd sub-fund

PLN equivalent of EUR 1,000 + PLN equivalent of EUR 200 as from the 2nd sub-fund

(1) The annual fees shall be paid by 31 March of the calendar year, following the calendar year in which the foreign UCITS was entered into the register of foreign funds.

 

REGISTRATION FEES

MAINTENANCE FEES(1)

Single AIF

under EU Member State law, marketed to professional investors only

PLN equivalent of EUR 300

PLN equivalent of EUR 300

Umbrella AIF

under EU Member State law, marketed to professional investors only

PLN equivalent of EUR 300 + PLN equivalent of EUR 300 as from the 2nd sub-fund

PLN equivalent of EUR 300 + PLN equivalent of EUR 200 as from the 2nd sub-fund

Single AIF

under EU Member State law, marketed to retail investors

PLN equivalent of EUR 1,200

PLN equivalent of EUR 1,000

Umbrella AIF

under EU Member State law, marketed to retail investors

PLN equivalent of EUR 1,200 + PLN equivalent of EUR 1,200 as from the 2nd sub-fund

PLN equivalent of EUR 1,000 + PLN equivalent of EUR 500 as from the 2nd sub-fund

(1) The annual fees shall be paid by 31 March of the calendar year, following the calendar year in which the foreign UCITS was entered into the register of foreign funds.

The Regulation is available here (PDF, 200KB) (in Polish only).

More information is available in the KNF’s publication in English here (PDF, 929KB).

Please feel free to contact us should you require any additional information.

Contacts

Said Fihri

Partner
+352 22 51 51 7892
said.fihri@kpmg.lu

Stephanie Zedda

Director
+352 22 51 51 7271
stephanie.zedda@kpmg.lu