The licence is the first step to coaching in Europe with the B Licence allowing for holders to be head coaches of men's amateur clubs, youth sides up to the age 16 and assistant coaches for professional clubs.
— FAW Trust (@FAWTrust) July 30, 2018
While walking away from Socceroos duties after the 2018 World Cup, Cahill is yet to retire from playing at club level but has ruled out a return to the A-League.
"To live in America and play in the A-League is impossible so respectfully I will draw a line in the sand about me coming home," Cahill said.
"I will go to the UK for my UEFA license, then I will open a door for offers to play football, I've not really entertained anyone yet.
"Domestic, there could be opportunity, but I have time to decide."
Having led his own youth academy for many years, Cahill has developed a decent CV when it comes to spotting and nurturing talent.
The 38-year-old's next steps into coaching would likely see him obtain his A and then Pro Licence - which allows for head coaching in the top-tiers of European football.
2018 has seen a flurry of former players take on managerial roles with Steven Gerrard now in charge of Rangers, Frank Lampard appointed at Derby County and Thierry Henry linked to a move to Aston Villa.
Incoming Socceroos coach Graham Arnold also played professionally for many years as a striker across Europe, Asia and Australia before making the move into management.