An offshore institution which has been authorised to operate in Macao SAR must pay IPIM a set-up fee of MOP5, 000 (a one-time fee) and an operating fee every six months. These range from MOP5, 000 to MOP15, 000 (these only apply to the offshore commercial service institutions), or MOP3, 000 to MOP10, 000 (these only apply to the offshore auxiliary service institutions).