There are many great business opportunities in sunny Australia and if you are looking to get a foothold in the Australian market for your business, you have come to the right place. As you would expect, the Australian government encourages foreign investment in all forms and the best way to proceed is seek out the help of a specialist firm that facilitates foreign business registration in Australia.
Google can help you locate a leading Australian firm that processes business registration; they would explain the various categories for business registration in Australia, which is as follows;
- Representative Office (RO) – The perfect springboard to a limited private company, the RO is suitable if you want to set up a branch office in Melbourne or Sydney in order to carry out some market research. This can typically be set up within 4-5 weeks; all you need to do is provide the documentation and you are notified at every step of the process until the registration is complete and you can start work.
- Private Limited Company (PLC) – This trading entity is the most popular form of business registration that requires a resident director in Australia, which your legal partner can help you to find. The resident director would complete tasks such as signing off with authorities, acting as the shareholder’s representative and providing advice regarding laws, rules and regulations. The business must be ASIC registered and with limited liability, this business can be set up in 4-5 weeks.
- Registered Foreign Company – Providing a foreign business is registered with ASIC, they can open a branch office in Australia. This option requires a Resident Public Officer, a person that your law firm can provide; someone who fully understands the roles they have to play. You also have to file an annual tax return and it can take up to 3 months to process.
Australia Welcomes 100% Foreign Owned Businesses
As a foreigner, it is possible to own 100% of a company, although you will need a Resident Director; talk to a leading company that facilitates foreign business. Of course, it is important to be fully compliant with the many rules and regulations and that is why you should enlist the assistance of a local law firm with experience in foreign business set up. Click here for information about virtual business addresses and how they can help some businesses.
The Importance of Compliance
As a guest in the country, it is crucial that you comply fully with the many laws, rules and regulations; of course, you need to apply for appropriate visas, which your law firm partner can assist with. In the event you need office services, a local provider can be found and the work can be done remotely, saving you time and money.
If you would like to talk to a specialist about business registration in Australia, Google can bring you a list of suitable companies and you can arrange an informal Zoom call, when you can find out more. Once the expert understands your needs, they can make recommendations and it takes roughly 4-5 weeks to finish the business registration.