What is initial approval?
Initial approval confirms the authority has no objection to your company being formed with the proposed activity and owners.
What it allows
With initial approval you can sign a lease, open a bank account in some cases, and move to incorporation.
Validity
It is valid for a limited period, during which you must complete the licence.
Common questions
Does initial approval mean I can trade?
No. You can trade only once the licence is issued.
Official sources
We check our guidance against these official sources. Always confirm current fees and rules before acting.