Applying to register an NZ-registered entity as a financial service provider (FSP)
If your entity is already registered with the Companies Office
If your company, business or other entity is already registered with the Companies Office, then some information in your application is supplied automatically from that other register. When you apply, you can also submit an application to become a Qualifying Financial Entity (QFE).
Entities that use this process to register
The Financial Service Providers Register (FSPR) defines a NZ-registered entity as any legal entity that is registered with the Companies Office. This includes:
- limited liability companies
- overseas companies carrying on business in New Zealand — that is, they're on the Overseas Register
- building societies
- credit unions, and
- limited partnerships.
Search the relevant registers to check if your FSP is already registered.
Applying online
After you start your application you can save and exit it at any time. If you're logged in, you can find it again in My Unfinished Business on your dashboard.
You can amend your application before you submit it, but you can't withdraw it after it's been submitted to us.
Before you start
You'll need to gather information for your application.
Update your registered entity's details
Before you start your application make sure the details for your entity held on another Companies Office register are current. Do this at least a day before you start your application as any changes you make flow through to the FSPR overnight.
Information that comes through automatically from our other registers includes your entity's name, and, if applicable, the names and addresses of its directors.
Fees
You pay the following amounts to register a NZ-registered entity as an FSP:
- an application fee of $300 (plus GST)
- a Financial Markets Authority (FMA) levy of $460 (plus GST) and,
- $35 (plus GST) to cover the cost of criminal history checks for anyone who has not undergone a successful check within the last 36 months — this includes people in your application in the role of a director, senior manager or controlling owner.
If you're also applying to become a QFE, you pay a registration fee of $4248.89 (plus GST)
1. Start your application
To apply for registration you need to have:
- a RealMe® login
- an online services account with the FSPR.
Log in and follow these steps.
- From the Do it now menu on your dashboard, choose Register an FSP, then NZ Registered Entity.
- Search for your entity using its name or number.
- Complete the application form using the information you've gathered, including:
- any trading names your entity uses
- your contact details
- the month you'll file your annual confirmation
- the financial services you intend to provide
- details of your membership of a Dispute Resolution Scheme (DRS), if applicable
- whether you're applying to the FMA to be a QFE and have submitted your Adviser Business Statement to them.
- Enter details of the controlling owner and senior managers of your FSP, if applicable.
- Confirm that your directors, controlling owner and senior managers aren't disqualified from being involved in your FSP.
- Select the Review tab to check the information you've entered.
- Select Submit to send us your application.
Register an NZ-registered entity
2. We review your application
We review your application before you pay. When our review is complete we contact you by email advising you to continue with your application or to let you know if there are any issues we need to resolve. We will take no longer than 5 working days to complete this initial review and email you with the outcome.
3. Complete your application
Log in and follow these steps.
- Find your application under My Unfinished Business on your dashboard.
- Select Submit and pay to pay any fees that are due. Choose a payment option and enter the email address you would like the tax invoice sent to.
- Select Process payment to complete your application.
4. We process your application
After we receive your application, we carry out criminal history checks. These take 2 to 5 working days.
If the criminal history checks are successful we send you confirmation that your registration is complete. You can then provide services that you don't need to be licensed for.
If you're providing licensed services
You must be licensed to provide licensed services before you can provide them. If you've applied to provide licensed services only, then you need authorisation from a licensing authority, for example the Financial Markets Authority (FMA), for at least 1 of those services before we can complete your registration.
If you're also applying to be a Qualifying Financial Entity (QFE)
If you've applied for QFE status from the FMA, we submit your application to them for approval after your FSP is registered.
If the FMA has any questions about your application they contact you directly.
If your application is declined, they'll write to you outlining the reasons. You'll still be a registered FSP and you can submit another application to become a QFE at any time.
After your entity is registered
After your FSP is registered on the FSPR, you need to:
- if applicable, provide us with details of your Dispute Resolution Scheme (DRS) within 10 working days of being registered
- file an annual confirmation with us every year.
If you don't do this we can deregister your FSP.