To Set-up a new company

[Alam]

Hi There!!
We are planning to set up is:

1. A Financial Investment company to Manage a Managed fund (MIS)
2. Target market is retail investors to invest their money and SMSF (if any)
3. We will reinvest the investors’ money into property development
4. The investors will be given back the profit @ 100% after deduction of costs (establishment, admin, legal and marketing costs)
5. We will charge fund management fees @ 2.5% to investors

The service we are looking for; to find a right licensee may be interested to appoint us as their Authorised Representative.

Please send me an email at samchhulnavy@yahoo.com if anyone is interested.
Thanks
Mohammad

[Grant Holley]

Thanks for your question.

An Authorised Representative carries on business as a representative of an AFSL holder.  Although many financial services can be provided in a representative capacity, this is not the case if you are issuing a financial product, such as your own Managed Investment Scheme.  In that case you will be acting as a principal and not as a representative.  There are some limited exceptions to this and you should seek legal advice.  Also, because the Scheme is to be marketed to retail clients, it will need to be a registered scheme, with a responsible entity that is a public company.

Please feel free to contact our Financial Services Team for further information.

[Author]

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