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OVERSEAS LICENCES
Australia · AUSTRAC
Registration for remittance and virtual asset services
Authority or frameworkAUSTRAC
Business scopeRegistration for remittance and virtual asset services
Capital and financial requirementsAssessed against the operating model and applicable requirements
TimingAssessed against document readiness and registration review
Registration scope
Remittance service providers and virtual asset service providers in Australia generally need to complete enrolment and registration with AUSTRAC and comply with the relevant AML/CTF requirements. The applicable registration categories, documents and procedures should be confirmed against the proposed services and circumstances.
Acquisition and application arrangements
When considering a new registration or the acquisition or sale of a company, first verify its AUSTRAC registration status, registered categories, applicable conditions and information update requirements. An ownership or control transaction does not replace the required AUSTRAC registration, information updates, notifications or other regulatory procedures. Arrangements should be assessed individually against the transaction structure and existing registration.
Advisory pointers
Assess AUSTRAC registration and compliance arrangements for the proposed remittance or virtual asset services. Registration does not authorise every financial activity.