FOLIO: OBTAIN AN AUSTRALIAN FSL (LICENSE)!

The Australian Financial Services License (AFSL) is a unique instrument that is used by various financial institutions worldwide such as Transferwise, WorldRemit, Western Union, and some banks.

By having AFSL for your business you will be able to conduct the following activity:

– offer multi-currency accounts

– over-the-counter foreign exchange contracts

– electronic money remittance services

– Debit Card issuance and service

– Cryptocurrency accounts and payments

– Insurance services

– Loans and Finance

– Investment products

Applying and obtaining AFSL is not an easy process. It requires proper preparation of all documents, business plan, cash-flow forecast, compliance procedures, outsource procedures, internal policies, and other important required documents. Our services include drafting all needed paperwork by professional legal specialists.

One of the conditions of obtaining AFSL (for most activities under this license) is registration with AUSTRAC – regulating body for compliance. This is an additional procedure that is not as complex as the license itself but also requires substantive input.

REQUIREMENTS:

1. Australian company

2. At least one local director with a financial operations background

3. Financial stability of shareholders

4. Clean criminal record worldwide

NOT REQUIRED:

1. Australian shareholders

2. Minimum capital

3. Security deposits

4. Insurance

5. Audit

TIMEFRAME:

Paperwork preparation usually takes 3-4 weeks.

AFSL Application review and approval  – 1-3 months. The fewer shareholders – the faster process.

As a standard, we indicate 3 months to have the license approved and issued.

ADDITIONAL REQUIREMENTS:

1. Registered and Physical office

2. Company Secretary

3. Phone and internet

TAXES:

Taxation in Australia is a complex procedure that can be avoided by using specific accounting software XERO, which would automatically calculate all tax obligations and allows to make necessary adjustments to comply with business activities. Normally there is a NIL tax on most services provided to clients outside Australia. (specific rates for activity can be sourced from our partner-accounting firm)

OUR PRICE AND INCLUSIONS:

The AFSL Package we offer includes:

– AFSL paperwork and application

– Company registration

– Australian Bank Account (AUD, EUR, USD)

– AUSTRAC Membership (3 months)

– Nominee Local Director (1 year)

– Office allocation and setup (Desk, PC, phones, printer, signage, etc.)

– Office lease (1 month)

– Secretary allocation and employment (1-month wages)

– Company simple website development for AFSL purposes

– First tax department reporting at the end of the year

We offer a turn-key solution for an Australian FSL to serious parties.

ONLY SERIOUS INQUIRIES PLEASE – PLEASE PROVIDE COMPLETE DUE DILIGENCE & PROOF OF FUNDS (POF) BEFORE EXPLORING THIS MATTER FURTHER!

Posted in Uncategorized.