While ASIC’s lodgement fee is one part of the picture, the total cost of an AFSL application is usually driven by the work required to prepare a complete, compliant application.
When you apply for an AFSL (Australian Financial Services Licence), the total amount you’ll spend depends on both the ASIC lodgement fee and the professional support you use to prepare your application properly. Because AFSL applications can be complex and require tailored policies, many businesses hire specialists (lawyers, compliance consultants) to assist, which adds to the total cost. In practice, AFSL applicants commonly engage lawyers and compliance specialists to help with:
- selecting the correct AFSL authorisations
- Responsible Manager strategy and evidence
- compliance frameworks and policies
- financial proofs and business model documentation
- risk and governance documents
Indicative total cost ranges (simple terms)
AFSL application preparation costs can range from lower-cost straightforward applications through to highly complex applications, depending on scope and structure.
- Lower-complexity / basic AFSL applications:
These are generally for businesses offering simpler services (e.g., advice or wholesale-only services). Total costs typically range from AU$7,500 to AU$10,000+. - Mid-range applications:
For licences with more services, retail clients, or broader authorisations, total costs typically range from AU$10,000 to AU$25,000+. - More complex licences:
If your business model includes multiple product classes, retail clients, client money or custodial services, or other complex authorisations, total costs can reach AU$30,000 – AU$50,000 or more, depending on how much support you need.
Important note: These figures are indicative — the exact amount you pay will depend on your specific business model, the services you plan to provide, and how much expert support you engage.