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Zimbabwe gazettes new fees for Victoria Falls financial hub
4 hrs ago |
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The Government has gazetted a comprehensive schedule of fees and levies for the Victoria Falls International Financial Services Centre (VFIFSC), marking a major step towards fully operationalising the resort city as an offshore financial hub.
Contained in Statutory Instrument 61 of 2026, the new framework sets out US dollar-denominated charges for entities seeking to operate within the centre, which is designed to attract global investors including banks, fintech firms and crypto exchanges.
Under the new structure, a full banking licence will cost US$50 000 for application, US$100 000 for granting and US$150 000 annually for supervision. Investment and commercial banks will pay between US$20 000 and US$30 000 in application fees, with annual supervision fees of up to US$75 000.
The digital asset sector has also been catered for, with crypto exchanges required to pay US$5 000 to apply, US$40 000 for a licence and US$50 000 annually in supervision fees. Stablecoin approvals will cost US$10 000, while fintech startups can access a regulatory "sandbox" for US$500. A US$5 000 supervision fee has been set for blockchain analytics firms.
In capital markets, new stock exchanges will pay US$70 000 for both licensing and annual supervision. Meanwhile, gambling operators, including e-casinos and sports betting platforms, face US$100 000 licensing fees and US$150 000 annual supervision costs, along with a 5% levy on gross gaming revenue and a 10% withholding tax on winnings.
Company registration fees have been set at US$100 for private entities and US$250 for public companies, with US$100 annual return fees. Certificates of incumbency and good standing will cost US$150 and US$100, respectively.
To enforce compliance, authorities introduced penalties including 10% monthly interest on overdue payments and a US$50 monthly fine for late filings.
Analysts say the structured fee regime, including provisions for virtual addresses and arbitration services, signals Zimbabwe's intention to position the VFIFSC as a modern, digitally efficient financial jurisdiction capable of attracting high-level international investors.
Contained in Statutory Instrument 61 of 2026, the new framework sets out US dollar-denominated charges for entities seeking to operate within the centre, which is designed to attract global investors including banks, fintech firms and crypto exchanges.
Under the new structure, a full banking licence will cost US$50 000 for application, US$100 000 for granting and US$150 000 annually for supervision. Investment and commercial banks will pay between US$20 000 and US$30 000 in application fees, with annual supervision fees of up to US$75 000.
The digital asset sector has also been catered for, with crypto exchanges required to pay US$5 000 to apply, US$40 000 for a licence and US$50 000 annually in supervision fees. Stablecoin approvals will cost US$10 000, while fintech startups can access a regulatory "sandbox" for US$500. A US$5 000 supervision fee has been set for blockchain analytics firms.
In capital markets, new stock exchanges will pay US$70 000 for both licensing and annual supervision. Meanwhile, gambling operators, including e-casinos and sports betting platforms, face US$100 000 licensing fees and US$150 000 annual supervision costs, along with a 5% levy on gross gaming revenue and a 10% withholding tax on winnings.
Company registration fees have been set at US$100 for private entities and US$250 for public companies, with US$100 annual return fees. Certificates of incumbency and good standing will cost US$150 and US$100, respectively.
To enforce compliance, authorities introduced penalties including 10% monthly interest on overdue payments and a US$50 monthly fine for late filings.
Analysts say the structured fee regime, including provisions for virtual addresses and arbitration services, signals Zimbabwe's intention to position the VFIFSC as a modern, digitally efficient financial jurisdiction capable of attracting high-level international investors.
Source - The Herald
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