Australia Financial Services Law

We believe the financial market in Australia is one of the strongest markets in the world, and will continue to evolve and improve. With this aspect, we constantly update ourselves in financial law in order to bring benefits and up to date legal and compliance advice to our clients.

One of the newer aspect of the financial market is the requirement for a Australia Financial License (AFS). We have proven success in providing financial companies with obtaining/applying for a Financial License in Australia, changing license conditions in Australia and also compliance work for financial companies. We are also experienced in dealing with overseas clients especially in Hong Kong and China. Our team of legal representatives speak Cantonese and Mandarin in order to ease communication with your company.

We can offer your company offshore license in particularly in:

  • Australia
  • New Zealand

In terms of costing and requirement, we can provide you with a general guide and should you be interested in our services. We can discuss this further by email or phone.

We hope the information below will assist you in determining whether it is viable to obtain an offshore license. If you are interested in our services, please contact us by email on or phone +612 8002 1281.

General Information for your benefit

An Australian financial services (AFS) licence authorises licensees to:

  • provide financial product advice to clients;
  • deal in a financial product;
  • make a market for a financial product;
  • operate a registered scheme;
  • provide a custodial or depository service;
  • provide traditional trustee company services.

An AFS licence is required to conduct a financial services business.

Governing Body:

ASIC assesses applications for AFS licences as part of our role as regulator of the financial services industry. When ASIC assess a licence application, they consider whether the applicant:

  • is competent to carry on the kind of financial services business specified in the application;
  • has sufficient financial resources to carry on the proposed business — unless regulated by the Australian Prudential Regulation Authority (APRA); and
  • can meet the other obligations of an AFS licensee.

ASIC continues to monitor and update the compliance requirements for AFS Licensees. In July 2012, a new financial requirement is introduced and will take effect from January 2013. Such changes means for a Make a Market licensee, retail OTC derivatives issuers must meet a net tangible asset (NTA) requirement, which will require them to hold NTA the greater of:

                From 31 January 2013:                   $500,000, or

                                                                                5% of average revenue

                From 31 January 2014:                   $1,000,000, or

                                                                                10% of average revenue.