Curacao has been navigating notable alterations to its eGaming certification protocols, creating uncertainty among operators about the evolving rules and associated costs. This uncertainty has often benefited rival jurisdictions like the Isle of Man, which continues to attract a substantial influx of new business. However, Curacao has recently made strides by revealing the proposed costs…
With the development of cryptocurrency technologies and their growing popularity around the world, the issue of regulation of crypto assets is becoming increasingly relevant. Argentina, one of the Latin American countries with an active crypto-currency market, has taken significant steps in recent years to create a regulatory framework for virtual assets and related services. In…
This region has long been recognized as a major offshore monetary core, providing commercials with a solid lawful and supervisory sphere. Lately, the country has embraced virtual transformation by implementing new schemes for blockchain-based monetary facilities. A key development in this area was the VASP Act, which was adopted on February 1, 2023, laying the…
The digital economy is rapidly expanding, with e-currencies playing a notable part in shaping global monetary ecosystems. Although the legislative scheme is still developing, this sector offers promising capabilities for organisations willing to enter the trade. This article outlines the key aspects of obtaining a crypto licence in Bosnia and Herzegovina, the demands for crypto…
Key Details of this Lithuanian VASP: Licensed VASP: Established in 2021 with full authorization from FNTT. Banking Setup: Active PSP account with a Lithuanian EMI for smooth operations, and a local bank account for tax and salary payments. Financial Stability: No loans or debts, in good standing, compliant with AML/KYC regulations. Legal and Operational Support:…
This is a new investment opportunity – FSP license in New Zealand for sale. Please check out the main details regarding this proposal below. FSP license in New Zealand: key considerations Financial Services Provider (FSP) for sale in New Zealand; Registered with Financial Service Providers Register in 2024; Authorizations (changing foreign currency, issuing or managing…
Key Features of this Forex Broker Company: Company Structure: Composed of both Bulgarian and offshore entities. Established Brand: The company has been operating for 9 years with a solid reputation in the market. Complete Infrastructure: Ready Made Forex Broker Company includes a website, secure client area (SCA), trading platform, and mobile applications. Trading Options: Leverage…
South Africa FSP License Bank Account: Includes one local bank account. Personnel: Local director and Key Individual (KI) available to stay post-sale. Transfer Timeline: Quick transfer—1 week for CIPC, 3 weeks for FSCA. Mauritius Full Service Dealer License Bank Accounts: Corporate and client accounts at MauBank. Capital Requirement: €24,000 Total Investment: €227,800 (inclusive of setup…
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+1 (888) 647 05 40Holding an Australian Financial Services (AFS) license authorizes you and your representatives to conduct a financial services business. If you provide or have an intention to carry on financial services offerings, you will need to be licensed by ASIC. Below you will find a comprehensive guide as to what are the key steps you need to follow when obtaining an AFS license.
Step 1: Initially, you need to determine which authorizations you need – It is a focal point that you are granted the appropriate authorizations to run your business. You must take into consideration the sorts of products and services you may be offering that will require a license:
Eternity Law International will work with you to determine the appropriate authorizations needed for your AFS license to carry on your business. All the AFS license application requirements are laid down in ASICs Regulatory Guides. With more than 150 pages of reading material in those guides, it is easy to overlook or inaccurately define an aspect of your activities, so it’s no wonder applicants outsource this task and seek expert help. Moreover, there are serious penalties for conducting an activity without a license or appropriate authorizations.
Step 2. Nominate your Responsible Managers (RM) – It is crucial to ensure that the combined knowledge and skills of the chosen RM cover all the aspects of your business. The organizational competency of your RM will make or break your application. We can help you advise whether the candidate is suitable if you share with us the CV of your team or the proposed RM candidate. As an option, we can offer you the services of professionals who will stay in line with the requirements for the business you are looking to carry on.
Step 3. Prepare your documentation for application – The AFS license application requires submitting a package of documents called ‘Proof’. They are divided into two categories: ‘Core Proofs’ and ‘Non-Core Proofs’. The first category is the initial list of credentials sent to the regulator. Eternity Law International will help you draft the proof documentation to satisfy the specifications of your AFS license application. The set of necessary documents includes the following:
Step 4. Extra Documents – Based on the authorizations for which your business is obtaining an AFS license, ASIC may ask for the provision of other proof documentation which may include as follows: • Training Plan for RMs; • Compliance programs Statements of crowdfunding Service, Custodial/Depository Service, Product/Service Distribution, ForEx Operating, IDPS, Market Maker, Arrangements for Managing Conflicts of Interests, Compliance Arrangements, Financial and Risk Management System Statements and others;
Step 5. Documentation – The ongoing compliance obligations – one-time, event-based, ongoing, licenses, filings, and statutory dues of your new or varied AFSL will necessitate procedural documents. Thus, to address the obligations imposed by ASIC, an applicant may be required to submit policies, procedures, or guidelines that set out the aims and principles under which the company will operate.
We understand that applying for an AFS license can be a complicated process. For this reason, we have a dedicated team to support you at each stage of your application. Our lawyers are committed to providing you a comprehensive support at each step of the application process. To learn more, please contact our specialists. You can also see our offers in the categories “Ready-made companies”, “Banks for sale” and “Licenses for sale“.
The international company Eternity Law International provides professional services in the field of international consulting, auditing services, legal and tax services.