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Step 1 - Early contact with APRA

Talking to APRA’s licensing team in the early stages of setting up your business, and before you lodge an application, can be highly beneficial for both you and APRA.

Initial contact with APRA

Making contact with APRA early and having an initial meeting 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; and
  • finalise your plans and decide your timing for starting up your business.

To organise an initial enquiry meeting with APRA’s licensing unit you should email licensing [at] apra.gov.au. The licensing unit will then contact you to arrange a time to discuss your proposal.

Preparing for your initial meeting with APRA

In preparation for your initial meeting you will be asked to prepare a brief, high-level summary of your business proposition. As a minimum it should include:

  1. an explanation of why you want to be an APRA regulated institution; and
  2. your initial business proposition and strategy, including high level information on your:
  • business plan – what products you will be offering, how you will offer them and your target market;
  • sources of funding – how you proposes to fund the business and whether you have any investors and/or funding in place;
  • owners and structure – details of proposed owners and the ownership / group structure, as far as they are known;
  • corporate governance – proposed structure, board, senior management and governance arrangements, as far as they are known; and
  • project plan - an overview and timeline of the plan to set up the new regulated business.

The summary of your business proposition will need to be provided to APRA in soft-copy at least 5 business day prior to the initial meeting, if you cannot meet this deadline, APRA may re-schedule the meeting.


Pre-application is your opportunity to engage with APRA while developing your application. This will help to make sure that when you submit your final application it can be processed smoothly with all the required documentation.

As part of pre-application you are encouraged to submit a draft application. Usually draft submissions will consist of a full business plan, ownership structure and corporate governance arrangements. The licensing unit will give you guidance based on your business proposition as to which documents you should include in your draft application. APRA will review your submission and provide high level feedback on:

  • whether you have included all the necessary information;
  • any issues or concerns that need to be addressed prior to submission of your final application; and
  • any additional information that may be needed for APRA to assess your application.

The pace at which you progress through the pre-application stage is largely up to you. The licensing unit will expect you to keep APRA up-to-date on progress and will endeavour to engage with you in as timely a way as possible. If we do not hear from you for six months, we will assume that you do not want to proceed with your application.

For more information email the APRA Licensing team at licensing [at] apra.gov.au.