Australia EMI License

In Australia, the functioning of electronic payment instruments is the responsibility of the Commission regulating and controlling the financial turnover. Non-resident entrepreneurs are allowed to obtain license certificates in the country. Foreign holders of documents have the right to perform transactions with electronic money within the jurisdiction, but for this they need to open a division or a branch office of their legal entity in the country.

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.

CREATE YOUR FINTECH LICENSE IN THIS COUNTRY BY ONE CLICK✔

N5Bank 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 N5Bank 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.

Technical compliance:

Professional IT analysis to ensure that the software meets regulatory standards. There are proven software solutions such as BAAS or SAAS. We significantly often work with such platforms as SoftexLab, which is ready-made technical solutions for your future fintech business, which are audited by various regulators within the jurisdiction.

Card issuance:

We recommend a White Label solution with partners such as XBANKSY, which is aggregator of more than 30 different cards and BIN- sponsorship around the World. This is a faster and, most importantly, more profitable way than direct VISA or MasterCard membership.

BUY YOUR FINTECH LICENSE IN THIS COUNTRY BY ONE CLICK✔

IF YOU WANT TO GET MORE INFORMATION ABOUT ANY LICENSE, BOOK A CALL 🔭

emi license , emi license uk, emi banking license global, emi license cost, emi license europe, emi license sale , emi license buy , emi license lithuania , emi license meaning , emi license netherlands , emi license requirements , fintech license , psp license , bank license , vasp license , crypto license