Licensing and registration guide for Managed Investment Scheme (MIS) Managers

All managers of registered MIS (except restricted schemes) must be licensed and have a licensed supervisor. Additional requirements apply to KiwiSaver managers.

Before you apply for a licence

There are some things you can do to ensure that your application runs as smoothly as possible:

• Review the licensing guides and documents as they contain all the information you need to know so you can complete and submit your application.
•  Set up your account on the Disclose Register. 
• Set up your RealMe® login details early.
• Arrange a meeting with the FMA early in your application process. 
• Notify FMA of your intent to apply and focus on minimum standards.
• Work closely with your supervisor for application advice.

Licensing Guides 

Licensing Guide Part A

This guide contains information about the licensing process and includes frequently asked questions.

Download Licensing Guide Part A: How do I apply for a licence? PDF 

Licensing Guide Part B

This guide contains all the specific questions you’ll be asked and the minimum standards you’ll need to show you meet. It also details the information and supporting documents you’ll need to provide when you submit your application. 

Download the Licensing Guide Part B: Managed Investment Schemes, PDF: 

Standard Conditions for Managed Investment Schemes

In your application, you'll need to demonstrate how you can meet the minimum standards and conditions for your licence - or ask us for a limit or variation using the forms below.  This is very important because when a licence is granted, they contain conditions that support your licensee obligations. They include conditions imposed by the FMC Act, the regulations, and any conditions imposed by the FMA.

Download the Standard Conditions for MIS Managers, PDF

How to apply

• Contact us at [email protected] to request a licence application form.
• Download and complete all relevant forms before emailing them to the same address.

Licensing declarations and certificates (SD Series)

For applicants

SD1.0 Certificate of compliance and authority to apply (applicant or their authorised person)

SD1.1 Declaration by current/proposed director of licence applicant

SD1.2 Declaration by current/proposed senior manager of licence applicant

SD1.3 Curriculum vitae of management team member of licence applicant

SD1.4 Declaration by Independent trustee (individual) - a combined certificate and declaration

For related bodies of the applicant

SD2.1 Declaration by executive director of related body to licence applicant

SD2.2 Declaration by senior manager of related body to licence applicant

For relevant parties to the applicant

SD3.1 Declaration by director of relevant party to licence applicant

SD3.2 Declaration by senior manager of relevant party to licence applicant

SD3.3 Declaration by individual relevant party to licence applicant (such as owner)

Cancelling an FMCA Licence

• Guidance on how to cancel an FMCA licence, PDF

Licensing information for specific roles

Property and forestry investment schemes licensing

• Property and Forestry Schemes: Licensing Guide for MIS Managers of Forestry Schemes, PDF
• Class Exemptions: Property Schemes, PDF
• Forestry MIS Exemptions: See page 13 of the Regulatory Update 
• Single Person Self-Managed Superannuation Schemes: Email the compliance team at the FMA

Single person self-managed superannuation scheme licensing

• Apply for approval as a Schedule 3 approved scheme by emailing [email protected].
• Include an executed trust deed (must meet FMC Act and Regulation requirements), the service address, and the balance date for the scheme.
• The sole member must be a trustee or a director (if a corporate trustee).
• The sole member of the scheme must be one of the trustees of the scheme or if the scheme has a sole corporate trustee one of the Directors of the corporate trustee. 
• The application fee is $178.25 (including GST), billed to the applicant.

Ongoing obligations once approved are:

• Annual report (as per FMC Regulations). The accounts must be completed within 5 months of the balance date and a copy of the annual report and unaudited accounts must be lodged to FMA.
• A set of unaudited accounts which comply with GAAP.
• The accounts must be completed within 5 months of the balance date and a copy of the annual report and unaudited accounts must be lodged to FMA within 28 days of completion. Currently, there is no fee for the lodgement of the annual report and accounts.

Any questions regarding the trust deed content, application process or ongoing obligation should be emailed to the FMA.

KiwiSaver Schemes

• All managers of new KiwiSaver schemes must be licensed as a MIS manager.
• In addition if you are intending to launch a new KiwiSaver, superannuation, or workplace savings scheme you will need a certificate from the FMA before applying to register the scheme. See our information sheet on the FMA certification process for registration of new KiwiSaver, superannuation and workplace savings schemes to find out how to get started.
• Some KiwiSaver managers are appointed by the Government as default scheme providers. This is a process administered by the Ministry of Business, Innovation and Employment at fixed periods. MBIE is likely to begin consulting on the next default KiwiSaver provider arrangements in 2026 / 2027.

Discretionary Investment Management Services (DIMS)

• A discretionary investment management service (DIMS), insurance contract, or a scheme that only involves managing separate and direct interests in underlying property are not considered to be a MIS and would need a separate licence to provide DIMS. Read more about DIMS.