You will require this authorisation if you are a foreign bank intending to establish a representative office in Australia. Consent is also required for a foreign bank to use the word bank, or its equivalent, as part of the bank's corporate name in connection with maintaining a representative office.
Foreign banks may also apply to establish locally incorporated banking subsidiaries in Australia or apply to operate through branches.
Please consult the Contact Officer for more information.
A licence defines the need to obtain recognition / certification and registration to undertake a certain business activity.
To be eligible for this authorisation you must:
- Be recognised as a bank under the laws of your
- Be of good substance and repute;
- Be subject to adequate standards of
prudential supervision in your home country;
- Have received approval from your home
country supervisor to establish a representative office in Australia; and
- Satisfy the Agency of your capacity to adhere to high standards of prudential management, including minimum entry and operating standards.
Please consult the Contact Officer for more information regarding eligibility requirements.
$14 000 per financial year.
Application for Authorisation for the Representative Office of a Foreign Bank - Please consult the Contact Officer for information on forms to be submitted.
Australian Prudential Regulation Authority
Banking Act 1959 (Australian Government)
Banking Regulations 1966 (Australian Government)
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