GreenEdge has completed the first official steps in its bid to become the first Australian team to gain UCI ProTour licence.
UCI procedures state that teams making an application must register via an official form by an August 15 deadline.
"Paperwork was lodged," Bannan emailed Cyclingnews with the UCI spokesman confirming this.
The next step for Bannan and his GreenEdge project is to lodge the file with the original bank guarantee for 25 per cent of the team's staffing fund requirements and the provisional list of riders and staff members by October 1, plus 15.000 Swiss francs. The total of the guarantee cannot be less than 975.000 Swiss francs.
GreenEdge is bankrolled by Australian businessman Gerry Ryan, head of the Jayco caravan empire.
The contracts of at least 15 riders will need to be provided to the UCI by October 20.
Earlier today, GreenEdge announced its seventh signing, Dutchman Sebastian Langeveld from Rabobank.