How To Apply For FSP Number In South Africa

Below is How To Apply For FSP Number In South Africa

Log in to your online services account.

Select ‘Register FSP (Individual)’ from the dashboard.

Complete your application, entering the required details, which include:

previous FSP numbers (if any)

any trading names used

other names you’ve been known by (maiden name or aliases)

confirmation that you expect to meet the required minimum threshold

whether or not you are a reporting entity under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009

the month you’ll file your annual confirmation

your business and contact addresses

the financial services you’ll be providing

On the ‘Declaration’ tab, confirm that you are either the person named, or have been authorized by the applicant; and that you have read and understood the declaration.

Select the ‘Review’ tab to check the information you’ve entered.

Confirm that the information you have provided is true and accurate.

Click on ‘Submit’.

On the payment screen choose the payment option and ‘process payment’ to complete your application.

How do I become an FSP in South Africa?

Briefly, the process of applying for an FSP license involves submitting an application to the registrar of the Financial Sector Conduct Authority.

In order to become authorized, the entity would need to meet certain licensing requirements and has to comply with a code of conduct before obtaining their licenses.

How do you become an FSP?

You have to have qualities of honesty and integrity.

You have to obtain knowledge, experience, and qualification in the field.

Operational ability.

On the business side of things, you have to have financial soundness.

Maintain continuous professional development.

How long does it take to get FSP Licence in South Africa?

The turnaround time for an application to be processed at the FSB can take between 6 to 12 weeks. So do not waste valuable time compiling the application. After all, time is money when you need to open your own business.