Apply for a license for financial activities

A business that provides financial services to individuals and businesses in most of the cases, a permit from the Swedish financial supervisory authority (SFSA). In an application for a permit estimates of FI among other things, the company's business, the owners and management, as well as the company's capital position. To apply for a residence permit will require a good knowledge of the financial regulatory framework, and the hands-on experience. Because the condition is often critical of the business, as well as a time-consuming process, it is usual to employ the expertise, compliance, and financial and legal affairs, in order to ensure that the application is going through.

This is how to apply for permission for financial activities

To write a application to the financial supervision authority is the time-consuming part of the application process. The time required to set up an application will vary depending on the type of permit you are applying for and must be evaluated on a case-by-case basis.

An application for a permit shall contain the following information:

• Owners and managers
• Business
• The capital adequacy ratio/capital
• Financial forecasts
• Anti-money laundering measures
• Management of conflicts of interest
• The procedures and processes of the information technology and informtionssäkerhet

The application needs to be designed in such a way that is easy to understand and refer to the current regulations and laws. It will provide a clear picture of what the company is going to carry on the business as well as what the risks are, and how they are managed.

Once the application is submitted assess the financial supervision authority, in the first stage, if the request is complete. If the application needs to be completed, the company needs to develop additional evidence before the ACCESS can proceed to the actual review. The processing time varies for the different cases and can be between the ages of 4 weeks and up to 6 months or even more. Sometimes there are questions over the handling of time, and, when requested additions to the case.

Once you have obtained the permission your company in the fin-fsa's supervision, which means that the FI are continuously assessing the risks of your business, among other things, by the information that should be made for ACCESS.

Writing an application for authorisation is a complex process and often requires expert knowledge of the financial regulatory framework. Might choose to use an attorney or a lawyer who is a specialist in the applications in the areas of financial activity. In Apriori, we have years of experience in writing applications for, among other things, the AIFM, värdeappersbolag, konsumentkreditinsitut, service providers, and a currency exchange service. 

The cost to apply for a permit

The Swedish financial supervisory authority will charge a fee when you apply for a license for financial activities. The cost is a one-time fee to cover the financial supervisory authority of charge, in order to evaluate and assess the condition. What is a permit cost is dependent upon the type of permit you are applying for.

Individual consultation on applications for authorisation

It is a good idea to ask for advice regarding the condition of your firm need to look for at the planning stage. Because the condition is often limits the operation may be carried out, it is important to find the right structure for the business right from the beginning of the year. Otherwise there's a risk to the operational side of the business doesn't work the way you originally planned, which could mean that you need to apply for a new licence shortly after the release of the new operation has begun.

We are in the Apriori has a long and extensive experience in the review of the new affärsuplägg and to explore the the hidden obstacles that might be a different kind of set-up. An early consultation is an inexpensive insurance policy to avoid the expensive costs in order to seek for the new state.