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I want to start a company that helps international students…

Customer Question
Hey I want to...

Hey I want to start a company that helps international students through the Australia . The company will be providing loans to the international students only at very very low interest fees and help them with the tuition fees as well . What legal requirements should be meet to start this kind of company

Lawyer's Assistant: What state are you in? It matters because laws vary by location.

Nsw

Lawyer's Assistant: Has anything been filed or reported?

Nothing

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

Nothing just this

Submitted: 11 months ago.Category: Australia Law
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Customer reply replied 11 months ago
Posted by JustAnswer at customer's request) Hello. I would like to request the following Expert Service(s) from you: Live Phone Call.
Customer reply replied 11 months ago
Let me know if you need more information, or send me the service offer(s) so we can proceed.
Answered in 3 minutes by:
9/19/2017
Solicitor: Leon, Solicitor replied 11 months ago
Leon
Leon, Solicitor
Category: Australia Law
Satisfied Customers: 46,918
Experience: BEc Dip Ed, Dip Law (SAB) MTax (UNSW)
Verified

Hi, I am Leon, a NSW Solicitor. I will be assisting you with your question. If you choose a telephone call, you will be charged an additional fee.

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Customer reply replied 11 months ago
What Is the extra fee
Solicitor: Leon, Solicitor replied 11 months ago

Good Afternoon

You will need to have a finance licence from ASIC to issue loans.

The extra fee is $85.00

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Customer reply replied 11 months ago
Emails is fine
Customer reply replied 11 months ago
Is that the answer
Solicitor: Leon, Solicitor replied 11 months ago

Good Afternoon

You will need to get a licence to offer loans.

The following link has the details of the AFS licences

http://asic.gov.au/for-finance-professionals/afs-licensees/

You should also speak to your accountant about setting it up and your GST obligations.

But to offer loans you need an AFS licence

I hope this makes sense and is of assistance. If you wish a phone call please elect for one but be aware it will be an additional fee. If there is nothing further thank you for using my services.

If I have missed anything, or you have any further questions please let me know

If there is anything else in the future please do not hesitate to ask.

Please do not forget to leave positive feedback.

Regards
Leon

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Customer reply replied 11 months ago
Hey the advertisements was saying 5$
It deduct 93 $ from my acI also know about it
This is not the proper answer as well
Solicitor: Leon, Solicitor replied 11 months ago

I will forward this to the administrators and request you get a refund.

In order to do what you wish, the information I have given you is correct.

Also ensure that you put in place appropriate professional indemnity insurance.

Getting the AFS licence is not an easy task but all the best and good luck.

Regards

Leon

Ask Your Own Australia Law Question
Customer reply replied 11 months ago
How do I get my refund
Customer reply replied 11 months ago
Hey how do I get refund as the add was saying 5$ only
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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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