Navigating Foreign Exchange Licensing in Victoria: What You Need to Know in 2025
Understanding Foreign Exchange Licensing in Victoria In Victoria, businesses involved in foreign exchange operations must adhere to specific licensing requirements. The primary licences applicable are: vicroads.vic.gov.au Australian Financial Services (AFS) Licence : Issued by the Australian Securities and Investments Commission (ASIC), this licence is mandatory for entities providing financial services, including foreign exchange trading. Registration with AUSTRAC : The Australian Transaction Reports and Analysis Centre (AUSTRAC) requires businesses offering remittance and money transfer services to register, ensuring compliance with anti-money laundering and counter-terrorism financing (AML/CTF) regulations. Steps to Obtain a Foreign Exchange Licence in Victoria 1. Determine the Appropriate Licence Assess your business activities to identify the required licences: AFS Licence : Necessary for businesses offering financial product advice, dealing in financial products, ...