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In this video tutorial by the FCA, viewers are guided through the first stage of completing an online application, specifically the registration process. Key prerequisites include having your National Insurance number, passport number, Companies House registration, and IP reference number, if applicable. Additionally, it's recommended to have your credit ready pack, which includes a decision tool checklist and jargon buster, available for reference. If you haven't received these materials, they can be found on the FCA website. A credit or charge card is also necessary to pay the application fee at the end. The tutorial emphasizes the straightforward nature of the application process, advising users to utilize help icons or the jargon buster for any uncertainties.