- From 1 July 2026, Australian co-working, serviced office and virtual office operators that provide a registered office address as a service became regulated under anti-money laundering and counter-terrorism financing (AML/CTF) laws, yet most of the sector is unaware this applies to them.
- Regulated operators must enrol with AUSTRAC, appoint a compliance officer, complete a risk assessment, implement written AML/CTF policies, train staff, and carry out customer due diligence including identity verification, sanctions screening, and beneficial ownership checks.
- Tank Stream Labs, which operates eight workspace sites across Australia discovered it was in scope through a conversation with AML compliance specialist Visibl, and has since completed all required steps with Visibl's support.
- Research by Visibl found that even among the better-prepared real estate, legal and accounting sectors — which have had over a year to prepare — only 34.4% were fully compliant, with 42.6% relying on identity checks alone while missing other legally required customer checks.
- Visibl is urging any workspace operator providing a registered office or principal place of business address to confirm whether they are in scope and, if so, to enrol with AUSTRAC without delay.
MEDIA RELEASE
24 September 2026 — For immediate release
Australia’s co-working / workspace-as-a-service operators are now regulated under anti-money laundering laws, and most don’t know it
Providing a registered office address became an AUSTRAC-regulated service on 1 July 2026. That one service brings co-working, serviced office and virtual office providers under the same AML/CTF obligations as real estate agents, lawyers and accountants.
SYDNEY, 24 September 2026 — many of Australia’s co-working, serviced office and virtual office operators could now be regulated under the country’s anti-money laundering and counter-terrorism financing (AML/CTF) laws, and Australian AML compliance specialist Visibl warns that most of the sector doesn’t realise it.
Under the Tranche 2 reforms that took effect on 1 July 2026, any business that provides a registered office address or principal place of business address as a service for a company or other legal arrangement is providing a “designated service” under the AML/CTF Act. AUSTRAC’s guidance is clear that the obligation applies whether or not the address is provided free of charge.
The service is common across the managed workspace sector and offering it means an operator must meet the same compliance obligations as the real estate, legal and accounting professions. These include:
- enrolling with AUSTRAC
- appointing an AML/CTF compliance officer
- completing a formal money laundering and terrorism financing risk assessment of the business
- putting in place written AML/CTF policies
- training staff
- carrying out customer due diligence on every customer receiving the designated service. This covers verifying identity, identifying beneficial owners, screening for sanctions and politically exposed persons, and risk rating each customer
- reporting suspicious matters to AUSTRAC and submitting annual compliance reports
AUSTRAC regulates the service because a registered office address can give a company a credible physical presence it doesn’t actually have. It can let the people behind a company conceal where they operate, or give an entity with no real footprint in Australia a legitimate-looking local address. These are features that can be exploited by shell companies and people seeking to launder money.
“Almost all of the education and industry conversation about Tranche 2 has been aimed at real estate, law and accounting, which makes sense. But it’s left managed office providers completely in the dark. Most operators we speak to have no idea that one service line on their membership terms, a registered office address, has made them a regulated business. They aren’t ignoring the law. They just weren’t aware.”
Kaan Yuksel · Founder & MD, Visibl, AML compliance specialist
A sector that found out by chance
Tank Stream Labs operates eight workspace sites across Australia, supporting more than 250 companies and over 2,000 members. The operator only learned it was in scope because Visibl is a member at one of its Sydney offices, and raised it with Chief Operating Officer Casandra Diaz over coffee.
“We knew Visibl was in the AML/CTF space, but weren’t entirely sure about whether this applied to us. Not many firms in our industry were talking about it. Within one conversation it was clear this wasn’t optional, and that we needed to act quickly.”
Casandra Diaz · Chief Operating Officer, Tank Stream Labs
Working with Visibl, Tank Stream Labs enrolled with AUSTRAC, completed its risk assessment, put an AML/CTF policy in place and trained its team. It then began verifying and risk rating its customers, with Visibl’s specialists guiding the team through its first checks until they could run the process themselves.
“We have a responsibility to know who is using our address, and our members deserve a workspace provider that takes that seriously. Getting it done properly was much easier than I expected once we had the right support. My advice to every other operator is to check now, not after AUSTRAC comes knocking.”
Casandra Diaz · Chief Operating Officer, Tank Stream Labs
Even the most prepared sectors are struggling
Visibl’s recent research into the sectors that have received the most attention suggests the managed workspace sector is starting well behind. Australia’s AML Readiness Report 2026, a survey of over 60 real estate, legal and accounting businesses, found that 88.5% of those businesses were aware the reforms applied to them. Even so, only 34.4% were fully “ready” once governance and day-to-day practice were assessed together, compared with 65.6% who were confident they would pass an AUSTRAC compliance review.
The report also found that 42.6% of businesses surveyed were relying on identity checks alone while missing at least one other legally required customer check, such as sanctions and PEP screening or beneficial ownership verification. Meanwhile 18% had still not completed a risk assessment a month after the laws took effect.
“If the professions that have been preparing for this for well over a year are still finding gaps, imagine where an industry that hasn’t even been told it’s in scope is sitting. The good news is that it’s very fixable. The first step is simply knowing that it applies to you.”
Kaan Yuksel · Founder & MD, Visibl, AML compliance specialist
Visibl is urging any operator that provides a registered office or principal place of business address, including as part of a virtual office or address-only plan, to confirm whether it is in scope and if it is to enrol with AUSTRAC if it hasn’t already. Visibl can complete this on their behalf and has a solution, price and plan ready to suit any managed office provider.
ENDS
NOTES TO EDITORS
- The designated service: Table 6, item 9, Section 6 of the AML/CTF Act 2006 (Cth): “providing a registered office address or principal place of business address of a body corporate or legal arrangement, in the course of carrying on a business”. Obligations commenced 1 July 2026. See AUSTRAC’s guidance on professional designated services.
- Research: Australia’s AML Readiness Report 2026 surveyed 61 accounting, real estate and legal businesses across Australia, fielded 31 July – 10 August 2026, plus in-depth interviews with three industry practitioners. Managed workspace operators were not included in the sample; findings are cited as a benchmark for the sectors that have received the most regulatory attention. As a small sample, percentages are directional.
- Interviews: Casandra Diaz (COO, Tank Stream Labs) and Kaan Yuksel (Founder & MD, Visibl) are available for interview.
- Please cite as: Australia’s AML Readiness Report 2026, commissioned by Visibl. Full report at https://visibl.com.au/Australia-AML-Readiness-Report
About us:
ABOUT VISIBL
Visibl is an Australian AML compliance platform for businesses newly regulated under Tranche 2, including real estate, legal, accounting and managed workspace providers. It combines certified AML specialists with automation: AUSTRAC enrolment, a tailored risk-based AML/CTF program, customer screening, training, and audit-ready reports and records. www.visibl.com.au
ABOUT TANK STREAM LABS
Tank Stream Labs is an Australian workspace and community operator for startups, scaling companies and established businesses. Across eight sites in 4 cities, it is home to more than 250 companies and over 2,000 members. Its Lab spaces combine open-plan coworking, private offices, meeting rooms and event venues with a regular programme of community and educational events. Its Tank Stream Suites locations offer premium private offices for professional firms. Members also gain access to a wider network of investors, mentors and industry leaders. www.tankstreamlabs.com
Contact details:
LUCY ALLEN
0435758509
