Financial Institution licensing is now open
The CoFI Act requires financial institutions to be licensed to continue providing relevant services to consumers. Before you apply for a licence, we recommend you follow the following 8 steps:
STEP 1: Decide if you need to apply for a financial insititution licence
Registered banks, licensed insurers and licensed non-bank deposit takers need to determine if they will require a financial institution licence.
STEP 2: See what questions we'll ask
Get familiar with the financial institution licence application guide and review the application questions.
STEP 3: Prepare your fair conduct programme
You will need to have established your fair conduct programme (FCP) prior to applying for a financial institution licence.
STEP 4: Get the basic admin done
Log in to the FSPR on the Companies Office website and select the “Financial Institution - licensed” service. You’ll need to do this at least 24 hours before you start your draft application online.
STEP 5: Log in to the application portal
STEP 6: Start your draft application
We won’t see any of your answers until you press SUBMIT. Complete as much as you can, then save a draft and come back and finish the job when you’re ready.
STEP 7: Seek further help if you need it.
Your success is important to us. Please get in touch if you have questions on the licencing process. Contact the FMA or talk to your professional advisers about what might be helpful for you.
STEP 8: Press submit!
Congratulations on finishing your application. We’ll be in touch soon to advise the outcome.
Download the 8-steps to apply for a financial institutions licence PDF