Before you apply – please check the Stage-by-Stage Guide to help plan your application.
Before you apply you need to:
Start to plan a 13-month cashflow forecast which details your income streams and costs. This is a good way to test the viability of your business.
Your application should include details about:
You will need an entity application form. This form provides important information about your firm including:
There will also be application forms for the key individuals in the firm – the Approved Manager(s) and Compliance Manager.
Do not purchase the insurance until the firm is granted `Provisional Authorisation’.
We will arrange for any DBS checks after you submit your application.
Your application fee covers the assessment of your application and your first years practicing fee, and is based on:
You will also need to make a contribution towards Compensation Arrangements.
First we will do an initial assessment of your application and contact you if there is anything missing or we need further information. We will look to do this within 2 weeks.
When we have all the required completed documentation, a full assessment usually takes within 30 days.
We may give your firm provisional authorisation. This sets out any conditions required to get full authorisation and allows you to decide when to start trading. It also allows you to arrange a start date for PII – do not buy PII until your firm is given provisional authorisation.
Once granted full authorisation, you are then able to commence work in the areas for which you have been authorised. We will send you a letter of authorisation, certificates, and access to our digital logo.
If your application is declined, you will receive a letter explaining the decision and advice on the appeals process.
Read the CILEx Authorisation Rules for details of the application and appeals processes.