No general licence, many specific ones
Business Regulatory Approvals in the United Kingdom
The UK has no general trade licence. It has a long list of sector regulators, and more than one AML supervisor.
GCC business setup specialists
The supervisor is not always obvious
Most businesses need no authorisation at all. Those that do face a specific regulator — and the surprise is which. Financial services sit with the Financial Conduct Authority, but anti-money-laundering supervision for several sectors, including some property and accountancy work, sits with HM Revenue & Customs rather than the FCA. Businesses discover this when they are already operating unsupervised.
- The correct regulator and supervisor both identified
- AML supervision addressed, not just sector licensing
- Honest view where authorisation will be difficult
20+
Mainland, free zone and offshore jurisdictions we file in — so the recommendation is based on your activity, not on which authority we happen to be registered with.
7,000+
Companies successfully established.
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Who must say yes
Approvals and supervisors that commonly apply
The AML supervisor often differs from the sector regulator.
| Area | Authority |
|---|---|
| Financial services and payments | Financial Conduct Authority |
| Consumer credit | Financial Conduct Authority |
| Money service and some property work | HM Revenue & Customs, for AML supervision |
| Care services | Care quality regulator |
| Security and door supervision | Security industry regulator |
| Gambling | Gambling regulator |
Regulator remits, authorisation criteria, threshold conditions and anti-money-laundering supervision are set by the authorities and change. Yours are confirmed before any application.
How it works
Establishing what you need
Identify the supervisor, then the permission.
01
Identify who supervises you
Which regulator, if any, authorises your activity, and separately which body supervises you for anti-money-laundering purposes.
02
Prepare the application
Business plan, systems and controls, responsible individuals and capital evidence assembled to that regulator’s standard.
03
Apply and maintain
Application submitted, queries answered and ongoing reporting and supervision obligations calendared.
Typically required
What an authorisation application needs
Regulators assess individuals as well as the firm.
- Detailed business plan and financial projections
- Ownership and control structure
- Named responsible individuals and their experience
- Fitness and propriety evidence for controllers
- Capital and liquidity evidence
- Systems and controls documentation
- Anti-money-laundering policies and risk assessment
- Nominated officer for AML purposes
- Professional indemnity insurance
- Outsourcing and technology arrangements
- Regulatory history in any jurisdiction
- Auditor appointment where required
Scope
What is included, and what is not
Stated plainly, so nothing is added once the engagement starts.
Included in the service fee
- Identification of the regulator and the AML supervisor
- Threshold conditions and capital requirements set out
- Application preparation support
- Co-ordination with the regulator
- Responses to regulator queries
- AML registration where supervision applies
- Conditions carried into a compliance calendar
- Honest view of prospects
Not included, quoted separately
- Regulator fees and levies, paid at cost
- Capital required to be held
- Policy and manual drafting, quoted separately
- Recruitment of responsible individuals
- Professional indemnity premiums
- Systems implementation and audits
- Legal representation
- Ongoing regulatory reporting
Verify independently
Relevant UK authorities
We file directly with these bodies on your behalf.
Companies HouseHM Revenue & CustomsFinancial Conduct AuthorityInformation Commissioner’s OfficeIntellectual Property OfficeInsolvency Service
Questions
UK regulatory approvals — FAQs
Do I need a licence to trade in the UK?
There is no general trade licence. Most businesses need nothing; specific sectors need authorisation from their own regulator.
Why would HMRC supervise me?
HMRC is the anti-money-laundering supervisor for several sectors, including some property and accountancy activity. Firms often assume the FCA covers everything and end up unsupervised.
What are threshold conditions?
The minimum standards a firm must meet for financial services authorisation, covering resources, suitability and business model. They apply continuously, not just at application.
Can I operate while an application is pending?
No. Carrying on a regulated activity without permission is a criminal offence, not a technicality.
What if authorisation is unlikely?
We will say so before you spend on it, and explain whether a narrower permission or a different model would work.
Go deeper
More United Kingdom services
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