Australian Financial Services License
The Australian Financial Services Licence (AFSL) is a regulatory requirement for businesses and individuals providing financial services in Australia. Governed by the Australian Securities and Investments Commission (ASIC), the AFSL framework aims to protect consumers and ensure the integrity of the financial markets. This license is essential for financial service providers to operate legally within the country and is a hallmark of credibility and professionalism in the financial sector.
1. FX Contracts Authorization: Licensed for foreign exchange contracts.
2. Business Scope: Able to serve both retail and wholesale clients.
3. Active Bank Account: Established corporate bank account.
4. Clean History: No previous clients or issues.
5. Support Available: Assistance with:
- Local directors
- Responsible managers
- Office setup
- Auditing
6. Quick Changes: Company name and shareholder changes completed in a week.
7. Good Standing: Company in good standing; no disciplinary record or liabilities.
8. Immediate Operations: Ready for quick onboarding and growth.
200,000 AUD
An AFSL entitles licensees to perform certain tasks for, with and on behalf of financial clients, including:
1. Providing financial product advice
2. Dealing in financial products
3. Making a market in financial products
4. Operating a registered scheme
5. Conducting crowd-funding service
6. Providing custodial or depository services
7. Providing traditional trustee company services
8. Providing a superannuation trustee service
9. Providing claims handling and settling services
10. Operating the business and conduct the affairs of a corporate collective investments vehicle.
1. Regulatory Compliance:
Ensures that financial service providers comply with Australian laws and regulations, promoting trust and safety in the financial system.
2. Consumer Protection:
Upholds high standards of conduct, which safeguards consumers from fraudulent activities and ensures their rights are protected when accessing financial services.
3. Market Integrity:
Helps maintain the integrity of the financial markets by ensuring that only qualified entities can provide financial services, thus reducing the risk of misconduct and systemic failures.
4. Credibility:
Holding an AFSL increases a firm’s credibility with clients and partners, showcasing a commitment to professionalism and regulatory adherence.
5. Access to Financial Markets:
Enables licensed providers to offer a wider range of financial products and services, allowing them to better serve their clients’ diverse needs.
An AFSL must satisfy the requirements set out in the Corporations Act, as well as ASIC regulatory guidance materials:
- Australian Entity: The company can be a 100% established by non-residents of Australia.
- Directors: The ASIC (regulator) prefers 2 or more responsible directors to be appointed. One of them should be a resident of Australia. The presence of director with relevant experience in the stated activities is required to act as a “responsible manager”.
- Australian Public Officer: Upon the request of the local tax authority, there must be a position at each enterprise that can only be occupied by an Australian citizen who has an accounting education.
- Corporate bank account opening: A corporate bank account is required as an AFSL.
Step 1: Data Collection
Step 2: Submit Deposit
Step 3: Receive Company Documents for Due Diligence
Step 4: Submit Remaining Payment
Step 5: Changing of Company Name
Step 6: Changing of Directors & UBO
1. Documentation Collection & Processing
We gather, review, and organize all necessary paperwork, ensuring a smooth and compliant license transfer process.
2. Local Representation & Personnel Provision
We help source or appoint resident directors and qualified responsible managers, ensuring you meet ASIC’s experience and residency requirements.
3. Bank Account Assistance
If you need, we support you in opening and maintaining the corporate bank account mandated for AFSL holders.
4. Ongoing Maintenance
We provide post-licensing support—monitoring regulatory updates, handling annual filings, and guiding you through license renewals to keep your AFSL in good standing.
Contact us for more details!
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