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| Australia Company Set Up |
Australia company set up quick and easy compared to the majority of jurisdictions. Important points to note include:
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| Australia company set up applications are lodged through the Australian Securities & Investments Commission (ASIC). Official fees amount to AUD$400. The process is quick, with ASIC normally issuing a Certificate of Incorporation on the same day the application is received. |
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| Most entrepreneurs use a corporate services Firm to handle all Australia company set up formalities. This Firm will legally incorporate your company and act as the Australia-resident director, company secretary and registered office, assist your Firm fulfill your statutory legal obligations in Australia and apply for employment visas for foreign staff. Procedures typically evolve with i) company name reservation with ASIC ii) submission of shareholders and directors’ due diligence and corporate documents to ASIC including Memorandum and Articles of Association and a Statutory Declaration of Compliance and Registered Office details.
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| Following Australia company set up, it is not normally necessary for a company to obtain a business license. However, entrepreneurs planning to conduct real estate brokerage, banking, shipping or media services must obtain approval from the Foreign Investment Review Board. |
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| Following Australia company set up, company details are available for public viewing on the ASIC online public register. Available information include shareholders and directors' names and addresses.
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| 5.
| An Australian private limited company is required to prepare annual financial statements complying with Australian Financial Accounting Standards. The financial statements accompany an annual corporate tax return submitted to the Australian Taxation Office (ATO) by 30 June each year. Because of the complexity of Australian accounting and tax laws, it will be necessary to engage the professional services of qualified accountants and tax advisors. |
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| For more detailed information on Australia company set up, purchase our Asia Business Setup book. |
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