Should a conveyancer tick "Virtual Assistant Service" or "Registrable Remittance Service" when enrolling with AUSTRAC?
No, both should be unticked for a standard conveyancing practice; these categories cover digital currency virtual assistants and money remittance, not back-office VAs or trust handling.
No - both should be unticked for a standard conveyancing practice.
What these categories actually cover:
- Virtual Assistant Service in AUSTRAC's enrolment language refers to specific virtual-assistant designated services for digital currency exchanges and similar - it has nothing to do with offshore back-office staff or VA arrangements.
- Registrable Remittance Service refers to businesses that provide money remittance services (sending funds on behalf of customers, cross-border value transfer). A conveyancer who pays settlement funds through their trust account is not providing a remittance service - that's a payment in the ordinary course of conveyancing, not a money-transfer business.
Conveyancers should only tick designated services they actually provide - typically Table 6, item 1 (real estate sale/purchase/transfer assistance) and, where applicable, Table 6, item 4 (trust services if the firm sets up trusts) or item 5 (company services if the firm incorporates companies).
If you accidentally tick one of these and submit, AUSTRAC's onboarding team will follow up; you can also re-submit a corrected enrolment. See AUSTRAC's Enrol and register with AUSTRAC page.