In order to obtain a licence as a money services business, a person shall apply in writing to the Financial Services Regulatory Commission, pay the prescribed application fee, complete Form A and Form B as outlined in Schedule 2 of the Money Services Business Act of 2008 and submit the required documents. The Authority will process the application in accordance with its application processing procedures. Upon completion of this process, if it is satisfied that an application is in order and the applicant is a fit and proper person to be licensed to conduct money services business and that it can fulfill the obligations of a licensee under this Act. The Authority will approve the application and issue a licence to the applicant subject to the applicant paying the prescribed licence fee and making the prescribed statutory deposit in accordance with the Money Services Business Act.

It is anticipated that every sponsor will arrange for a delegation of its senior officers, or, in the case of an independent institution, of its principal controllers, to travel to St. Kitts and make a presentation in respect of the applicant and its proposed business before a formal application is submitted.