Question 1

What is a Corporate Authorised Representative (CAR)?

Accepted Answer

A Corporate Authorised Representative (CAR) is a company authorised to provide financial services under another entity's Australian Financial Services Licence (AFSL). Instead of obtaining your own AFSL—which typically takes 6-18 months and require capital of $100,000+—you operate under an existing licensee like 62 Consulting Pty Ltd (AFSL 548573). This allows you to legally provide financial product advice, deal in financial products, and operate managed investment schemes while the licensee maintains regulatory responsibility and ensures compliance with ASIC requirements.

Question 2

How long does it take to become a CAR under AFSL 548573?

Accepted Answer

With 62 Consulting, you can become a Corporate Authorised Representative in days, not months. While obtaining your own AFSL typically requires 6-18 months of regulatory preparation, extensive documentation, and ASIC approval, our streamlined onboarding process includes due diligence, compliance framework setup, and regulatory documentation—often completed within 5-10 business days.

Question 3

What is the difference between an AFSL and a CAR?

Accepted Answer

An AFSL (Australian Financial Services Licence) is issued by ASIC to the legal entity responsible for financial services operations. A CAR (Corporate Authorised Representative) is a separate company authorised to operate under that AFSL. The licensee (62 Consulting) holds regulatory responsibility, compliance frameworks, and audit obligations. The CAR operates the business, serves clients, and generates revenue—without the capital requirements or ongoing compliance costs of holding a direct AFSL.

Question 4

How much does it cost to operate as a CAR with 62 Consulting?

Accepted Answer

Operating as a CAR under AFSL 548573 can be cost-effective than obtaining your own AFSL. While direct AFSL holders face setup costs exceeding $15,000 plus minimal NTA and ongoing compliance, audit, and regulatory expenses, plus time.  A CAR arrangements involve a monthly licensing fee. Typical arrangements start from $2,500-7,500/month— cheaper in capital requirement and time in start-up phase compared to direct AFSL holding costs. 62 Consulting offers flexible pricing based on your business model, fund size, and service requirements.

Question 5

What is a Singapore VCC and how can 62 Consulting help?

Accepted Answer

The Singapore Variable Capital Company (VCC) is a flexible fund structure introduced in 2020 that allows multiple sub-funds under a single legal entity, similar to a Cayman Islands SPC. VCCs offer tax efficiency, operational flexibility, and strong regulatory standing under the Monetary Authority of Singapore (MAS). 62 Consulting guides Australian and regional fund managers through VCC establishment, including structuring advice, regulatory liaison, and integration with your Australian CAR operations.

Question 6

What compliance obligations do CARs have?

Accepted Answer

CARs must maintain: (1) trained and competent representatives, (2) AFCA membership, (3) professional indemnity insurance, (4) AML/CTF programs, and (5) breach reporting protocols. While 62 Consulting maintains ultimate regulatory responsibility as the AFSL holder, CARs adhere to our compliance frameworks. We provide templates, regulatory updates, policy guidance, and audit preparation support—so you meet obligations without dedicated in-house compliance staff.

Question 7

Can a CAR provide financial advice to retail clients?

Accepted Answer

Yes—AFSL 548573 authorises 62 Consulting and its Corporate Authorised Representatives to provide financial product advice to both wholesale and/or retail clients. This is a significant advantage over some licensing arrangements that restrict operations to wholesale clients only. However, retail client advice cann trigger additional regulatory obligations including Design and Distribution Obligations (DDO), Target Market Determinations (TMDs), and enhanced disclosure requirements.

Question 8

What fund structures does 62 Consulting support?

Accepted Answer

We support diverse fund structures: Australian unit trusts and managed investment schemes, Singapore VCCs for Asia-Pacific strategies. Our expertise spans equity funds, debt/credit strategies, private equity, venture capital, and FinTech platforms. Led by George Lucas and Astrid Raetze, with structuring experience across Southeast Asia, and Australia.

Question 9

How does 62 Consulting help FinTech startups?

Accepted Answer

FinTech founders face unique regulatory challenges when launching wealth management, robo-advisory, payments, or lending platforms. 62 Consulting provides AFSL licensing through our CAR arrangement, allowing rapid market entry without 18-month regulatory delays. We offer specialized support including: technology vendor due diligence, cyber security frameworks aligned with ASIC best practives, API and platform compliance reviews, investor disclosure documentation, and regulatory guidance on emerging areas like digital assets.

Question 10

Can a CAR operate internationally?

Accepted Answer

Yes. While the CAR operates under Australian law (AFSL 548573), we support multi-jurisdictional fund structures. Australian CAR handles regulatory licensing and compliance; the fund vehicle sits in the optimal jurisdiction for tax and investor preference—Singapore VCC for Asia-Pacific, Cayman structures for global investors, and Delaware LLC for US market access. 62 Consulting's cross-border expertise ensures seamless integration between Australian regulatory compliance and international fund operations.