AUSTRAC Registration – Australia Payment License & AFSL Setup

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Payment license for EMI, PSP and MSO-compliant fintech business
AUSTRAC Registration and AFSL Application Services for Australian Payment License

Requirements for Licensees

Australia puts forward other requirements to the applicants for e-money certificates:

the management and key managers of the company must have the qualifications and experience corresponding to the business direction;
it is necessary to open a bank account in the country, where the nominal capital will be deposited – the starting amount rate depends on the company’s type, the number of staff, the number of areas of activity (therefore, in many cases, it is advisable to open a legal entity in the form of Company Limited by Guarantees, where there are no requirements to a minimum deposit) ;
when receiving the payment license in Australia, applicants pay a state fee, which, if the commission does not approve the decision, is not refundable – it is necessary to pay separately for the submission of documentation and its examination by experts, and an annual commission fee is provided for the extension of the certificate.

The same requirements apply to entrepreneurs who are interested in the remote form of the document obtaining. This is allowed by the country’s legislation, therefore it is not always necessary to come personally.

Advantages of working with Prifinance:

30 years

of experience in international consulting

400+

crypto licenses obtained

100+

successful complex cases

10 000+

completed projects

40

supported jurisdictions

100+

lawyers, auditors, and consultants

“Prifinance” is a Simple Receipt of Payment Licenses in Australia

With us you will receive all the necessary support and comprehensive consultancy on certificates obtaining. Employees of the company:

explain the issues of electronic financial instruments implementation to customers, business registration in different jurisdictions;
protect the customers interests at all stages of business creation and operation;
help to prepare a documentation package (legalization, translation), check it for correctness and completeness;
support the customer when opening bank accounts, filing an application with the Commission for Control Over Financial Turnover and certificates obtaining;
undertake the related bureaucratic procedures – the business registration, the receipt of individual and tax numbers, the search for resident directors (if necessary), and so on.

The total level of licensing costs is affected by many factors – a form of the company, a need to purchase equipment for a work with electronic systems and so on. The experts of “Prifinance” will take into account all the customer’s needs and wishes, develop an individual strategy for the electronic money integration into the company’s settlements.