The opening date for renewal is 1st October in any given year. Licence holders are encouraged to submit the renewal application earliest, but no later than 31st December. If the renewal is not submitted before the existing license expires, the licence shall be automatically revoked and penalty fees will apply pursuant to Section 32 of the Financial Services Commission Act, Act No. 8 of 2023.
The following is a table for minimum required documentation and indicative timelines for the processing of an application for the renewal of a licence.