Knowing your costs
Every cost, before any figure exists
What a scheme could cost at each stage, who charges it and why — so nothing appears later that was not visible now. Amounts are set only in a scheme's offering documents.
Where we stand. Participant Technologies holds no IFSCA registration, authorisation or licence, has no clients, and has issued no units. Nothing here is an offer. Units would be designed as AIF securities, not Virtual Digital Assets, subject to a formal legal opinion before any issuance.
| Cost | What it is | When | Who charges it | Why it exists |
|---|---|---|---|---|
| Acquisition & transaction costs | Stamp duty, registration, brokerage and legal costs of buying the asset | At acquisition | Third parties, via the scheme | Buying real property carries statutory and professional costs |
| Diligence & valuation | Title, technical and valuation work before the scheme is priced | Before launch | Advisers appointed by the FME | So the asset is understood before anyone commits |
| Scheme set-up | Structuring, documentation and filing | Before launch | The FME and its counsel | A regulated scheme must be constituted properly |
| Tokenisation set-up | Contract deployment, configuration and testing | Before first allotment | Participant, charged to the FME | The register has to exist before units can be issued |
| Cost | What it is | When | Who charges it | Why it exists |
|---|---|---|---|---|
| Management | The FME's fee for running the scheme | Periodically, per documents | The FME | Leasing, reporting, valuation oversight and decisions |
| Trustee, custody & administration | Safekeeping, administration and fund accounting | Periodically | Service providers, via the scheme | Independent parties protect unit holders |
| Valuation & audit | Periodic independent valuation and annual audit | Periodically | Independent valuer and auditor | NAV must rest on independent work |
| Property operating costs | Maintenance, insurance, property tax and management | Continuously | Met by the SPV from rent | A well-run building protects future income |
| Tokenisation services | Register, identity infrastructure, reporting and servicing tooling | Periodically | Participant, charged to the FME | The register is maintained for the life of the scheme |
| Cost | What it is | When | Who charges it | Why it exists |
|---|---|---|---|---|
| Transfer processing | Any charge the scheme documents set for processing a transfer | When units move | Set by the FME | Checks, register update and records |
| Network costs | The cost of recording the transfer on the network, if passed on | When units move | Per scheme documents | Every register change is a recorded transaction |
| Cost | What it is | When | Who charges it | Why it exists |
|---|---|---|---|---|
| Asset sale costs | Brokerage, legal and taxes on selling the building | At the end of the scheme term | Third parties, via the scheme | Selling property carries costs, as buying does |
| Wind-up | Final distribution, closing the scheme and the SPV | At the end of the scheme term | The FME and service providers | A scheme must be closed properly |
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One place, before commitment
Every cost would be disclosed in the offering documents before an investor commits, not discovered afterwards.
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Participant is paid by the FME
Participant charges the fund management entity for infrastructure. It does not charge investors directly and offers no promotional credits or referral rewards.
A general description of cost categories for a single-asset property scheme. It is not a fee schedule for any scheme, and none exists.