News: Business registration in Australia
Opening of business in Australia
Australia, located in another part of the globe, currently demonstrates enviable rates of growth of economy and business growth due to non-residents. A huge surge in business activity is explained by flexible tax legislation applicable in close interaction with the national emigration policy.The principle of deregulation is an additional indicator which has increased trust of the international community.
Business in Australia
For opening own business, one first of all needs to think about obtaining a business visa. Depending on the objectives meeting the investor, the following types are distinguished:
- Owner of business,
- Manager,
- Investor,
- Owner of business based in Australia.
According to the current research, Australia is among the 20 countries in which it is easy to conduct business. Taking into consideration the considerable number of those wishing to start their business in Australia, the state has provided a number of requirements for them:
- Skill Select- interest on the part of residents in external businessman,
- Absence of conviction
- Absence of serious medical diseases,
- Experience
- The age requirement to be not older than 55 years,
- The minimum amount of investments.
Currently the most popular visa, which characterize business in Australia, is a visa of owner of business based in Australia. It is issued for a term of up to 5 years. Later it may be extended.
Buying business in Australia: forms and nuances arising from it
The decision to choose the form of an enterprise is the next step after you have decided on the visa and obtained the consent of the authorities to organize business in the country.
In addition to such legal forms as a private entrepreneur, partnership, trust and association aimed at the conduct of small and medium-sized businesses, the following companies are distinguished by the level of responsibility:
- Companies with unlimited liability and share capital,
- Companies with limited liability in the amount of equity capital,
- Companies with limited liability under warranty.
Buying a company the liability of which is limited by the foundation documents is the most popular step in order to buy a business in Australia. Such joint-stock company may be private (closed), or open, limited in liability only by issued shares in the company's total turnover. The possibility of quoting securities of similar companies on the national stock exchange is an advantage as it brings additional income.
Buying a ready-made business implies the possibility of preliminary verification of the success of an enterprise. In this case the need to register business in Australia arises for financiers.
The procedure is quite standard. It involves the selection of a unique name and of the form of the enterprise, filing of an application with the tax administration, and the registration of new employees in regional social insurance units. The terms vary depending on the method of sending the application.
owever, frequently businessmen want to enter the market with their goods and the period then is 30 days, and in case of using the services of specialists with extensive experience in filling out this kind of documents, from 1 to 2 days.
Business, similar to direct registration of business in Australia, is a crucial moment requiring a qualified approach. Contact our specialists for more detailed information on organizing your own business in this country. We are professionals.
Please select interests you the legal form of the company:
General information:
The most frequently selected organizational and legal forms for doing business in Australia are the following:
- Proprietary Company - Closed company with limited liability
- Public Limited Company - Public joint-stock company
- Company Limited by Guarantees - Company which participants are limited in liability by the amounts of pre-agreed guarantees
- Partnership
- Trust
- Sole Trader - Private entrepreneur
- Branch - Branch of foreign company
- Proprietary Company (Pty) – Private closed company, which is usually registered in the form of Company Limited by Shares (company which shareholders' liability is limited by paid-up shares in the company's capital)
