Apply to change the legal entity of your firm
Updated July 2020
What is this application for?
- to change a recognised sole practice to a limited company.
- to change a partnership to a LLP or limited company or vice versa.
There must be no other material changes to the existing management, ownership or structure.
The existing body must cease at the time the new one starts to trade.
What are material changes?
- splitting into two or more new entities
- adding new managers and/or owners who are not deemed to be approved
- changing your compliance officers
- any change that prevents the firm meeting the eligibility requirements to be authorised
- changing entity from a body corporate to a new body corporate (LLP / Ltd to LLP / Ltd)
- changes to authorisation status (eg recognised body to licensed body).
What are non-material changes?
A non-material change does not require us to approve new role holders and does not create a need for us to risk assess the new entity.
Example of non-material changes include:
- adding managers that meet the deemed approval criteria set out in rule 13.2 of the Authorisation of Firms Rules.
- the departure of individuals that will not affect the firm’s eligibility to be authorised.
Help with your application
Contact us if you have any queries before applying.
How to apply
Apply for a Change of Legal Entity
Log in to mySRA to apply, go to start a new application
There are two additional applications you may be asked to complete as you apply for a change of legal entity.
If you undertake financial services, you will need to tell us about the services you deliver. To do this, please complete the Financial Services Notification you will need to submit this with your change of legal entity application.
Log in to mySRA to complete Financial Services Notification
If you carry out services that are subject to money laundering regulations, you need to apply for Anti Money Laundering Authorisation you will need to submit this with your change of legal entity application.
Log in to mySRA to complete the Anti Money Laundering Notification
You will need to pay an initial payment of £200 when you submit your application. This payment is for us to consider your application.
We will let you know if your application is incomplete or ineligible.
We aim to decide within 30 days.