Step 1 - Early contact with APRA
Contact APRA early
Making contact early will help you:
- understand the licensing process and what happens at various stages;
- understand APRA’s expectations;
- identify any concerns APRA may have early on;
- finalise your plans and decide the timing for starting up your business; and
- make sure your application can be processed smoothly with all the required documentation.
Before contacting APRA
Consider the following key areas which APRA will initially want to focus on:
- business plan;
- owners and controllers;
- senior management, the board and governance;
- risk management;
- financial resources, including sources of funding;
- IT strategy; and
Start the application
When you are ready to begin the licensing process, email licensing [at] apra.gov.au. The licensing team will then contact you to arrange a time to discuss your proposal.
The pace at which you progress through the pre-application stage is largely up to you. The licensing team will expect you to keep APRA up-to-date on progress and we will endeavour to engage with you in as timely a way as possible.
Please note: If the licensing team does not hear from you for six months, APRA will assume you do not want to proceed with your application.
For more information email the APRA Licensing team at licensing [at] apra.gov.au.