2. Line up your responsible managers
Identify responsible managers whose qualifications and experience collectively cover all of your proposed authorisations. You will need to evidence their competence against ASIC's recognised criteria, so gather qualifications, references and detailed work histories early.
3. Prepare the application and supporting proofs
The application is lodged with ASIC and supported by a set of "proof" documents — for example organisational competence proofs, financial statements, and business descriptions. ASIC publishes the proof requirements; preparing them thoroughly is the part that most affects how smoothly the assessment runs.
- Business description and the authorisations sought
- Responsible manager details and competence proofs
- Financial statements demonstrating you meet the financial requirements
- Descriptions of compliance, risk and dispute-resolution arrangements (including AFCA membership)
- Evidence of compensation arrangements such as professional indemnity insurance
4. ASIC assessment
ASIC reviews the application and may ask questions or request further information. Incomplete applications or thin proofs are the most common cause of delay, so responsiveness matters.
Timeframes and cost
Application fees are set by ASIC and depend on the authorisations sought; ASIC publishes the current fee schedule. Timeframes vary widely with the complexity of the application and the quality of the proofs — straightforward applications are faster than novel or high-risk ones. Many applicants engage a licensing consultant or lawyer to prepare the application.
Because fees and processing times change, confirm the current figures directly with ASIC before you budget or plan.
Look up any AFSL, Credit, DCE or Remittance record by name, number, ABN or ACN.
Search the registerFrequently asked questions
How long does it take to get an AFSL?
It varies considerably with the complexity of the authorisations and how complete the application is. Well-prepared, lower-risk applications are assessed faster; novel or higher-risk applications take longer. Check ASIC for current service timeframes.
How much does an AFSL cost?
ASIC charges an application fee that depends on the authorisations sought, and there are ongoing annual levies. Many applicants also pay for professional help. Always check ASIC's current fee schedule for exact figures.
Can I apply for an AFSL myself?
Yes, you can lodge the application yourself through ASIC, but because the proofs are detailed and competence and financial requirements are technical, many applicants use a licensing specialist.