Australia has one of the strongest, most competitive, open and flexible economies in the world. Australia is one of the largest economies in the Asia Pacific region after Japan, China and Korea. If any person wants to get a start or spread their business internationally, then Australia is one of those countries that provide healthy opportunities to all businessmen due to it’s strong economic and the beautiful Asia Pacific location.
Economic and political Stability : Australia has built a number of public and private institutions. Australia economy is continuously growing. Even when the whole world economy was slowing down the Australia economy stayed positive. This is what every businessman wants and want to set business in Australia.
Immense Purchasing power : Purchasing power of Australian people is very high. Australia is a high wage country. There are a lot of people spending money, and that creates great conditions for business helping them to get success in the Australian market.
Diverse Culture : Australia has a diversified culture which leads to a diverse consumer market. Having a diversified consumer base to cater, provide huge opportunities to businesses that are running in Australia.
Capable workforce : Australia has very talented, trained, educated, skilled and multi-lingual people or workforce available. Australia labors are most educates, dedicated to the whole world
Strong Global ties : Another benefit that Australia provides to its investors that effective trading connection to other foreign countries. Due to its strong relations with other countries and its own trading economy make any business easily to expand here into large or successful business.
Business Financing options : Australia is perfect for business due to its strong economy and other financial support. The support can come vide an alternative lender, business loans or an investor.
Key business centres in Australia include Sydney, Melbourne, Brisbane and Perth.
Form of Business Entities
The most common form of business entity in Australia is a company limited by shares. Companies limited by shares are either proprietary companies (for private ventures or as subsidiaries of public companies) or public companies (for larger public ventures) or partnerships. Only public companies may be listed on the Australian Securities Exchange Limited (ASX)
The minimum requirement for incorporation of a company limited by shares incorporating is as below:
- 1 Local Director (Should be Australian Citizen, permanent resident);
- 1 Shareholder; Same person can be both director and shareholder;
- A Local address to be used as Registered Office address;
- And $ 1 as paid-up capital.
Incorporation for Australian Residents
An Australian local has options to incorporate either a private limited company (company limited by shares) or a sole proprietorship (sole trading) or partnership. Since they reside in Singapore then they would not require our nominee director service and would themselves act as a local director. Also, if desired, we can provide a suitable business address to act as a registered office address for the company.
Non-Australian residents who intend to carry on business in Australia must either incorporate a wholly owned or partly owned subsidiary company in Australia or register a branch office in Australia.
One of the requirement of the Australian corporation is it is mandatory to have a local director. We can provide businesses with a local director to satisfy this requirement. We will provide a full suite of services to get your company legal requirements including providing Registered Address and Nominee Director.
The establishment of an Australian branch may be preferable to incorporating a subsidiary if one of the objectives is to consolidate the financial results of the company in the place of residence of the overseas company registered as a foreign company.
Under the Business Skills program, business people can apply to come to Australia to start their own business, manage a new or existing business, or invest in Australia without the need for a sponsor, subject to meeting relevant criteria and the prerequisite business background and assets. They can freely reside in Australia.