Since 2003, Healy Consultants has assisted our Clients with business registration in Australia. Our services include i) business registration ii) government license registration iii) business bank account opening iv) employee recruitment v) visa strategies and vi) office rental solutions.
Advantages of Australia company registration
- An Australian company in the form of a limited liability company (LLC) can be registered within one week, with a minimum of one shareholder and one director of any nationality. The minimum paid up share capital is AU$1 and our Client will not need to travel to complete the business registration engagement;
- In accordance with Section 201A of the Australia Corporations Act 2001, every Australia Company shall have at least one director who is ordinarily resident in Australia. Most of our Clients request Healy Consultants to be the resident director. If required, Healy Consultants resident director service fee amounts to AUS$5,910 per annum;
- Business registration in Australia is simple and fast. It requires a minimum of one director and one shareholder. Registration of an LLC allows 100% foreign ownership and it has no minimum capital requirements;
- Offshore companies in Australia can conduct business throughout Australia without needing to register in individual states and territories;
- Australia promotes free trade and has concluded trade agreements with multiple countries including New Zealand, Thailand, Singapore, and the US;
- Because of Australia’s excellent reputation, an Australian company is a suitable corporate vehicle to promote to Clients, suppliers, investors, and venture capitalists. Furthermore, Clients who wish to promote their business to stakeholders in New Zealand and the Pacific Islands can take advantage of Australia’s proximity to these countries;
- An Australian LLC enjoys the benefits of 44 international double taxation treaties, thus minimising withholding tax;
- Investors can obtain government incentives, for example through Austrade, which is the Australian government’s trade and investment development agency. Austrade helps international companies source goods and services from Australia. Austrade also identifies potential Australia investment projects and strategic alliance partners for those intending to pursue business registration.
- Our Clients registering an Australian company will benefit from a reduced tax payments from July 2015 onwards, as the government has committed to reducing the corporate tax standard rate to 28.5% from this date, compared to 30% currently;
- Our Clients’ return on investment will be boosted by the exchange rate of the Australian dollar. The AUD is a safe currency, which should appreciate by over 10% against the USD by 2016, according to the IMF. Our Clients’ Australian assets will henceforth i) gain value overtime and ii) be sold with an appreciable markup;
- Dividends and capital gains received from both Australian and global subsidiaries are subject to a reduced corporate tax rate of up to 15% if i) the shares have been held for 1 year and ii) represent over 10% of the subsidiary’s share capital. If otherwise, the standard 30% tax rate applies.
Disadvantages of Australia company registration
- In accordance with the Australia Corporations Act 2001, business registration requires at least one director who is ordinarily resident in Australia. As part of our services, Healy Consultants can act as the nominee Australia-resident director;
- Domestic and international income suffers corporation tax at 30%. Furthermore, every company is required to submit annual audited financial statements and a corporate tax return to the Australian Taxation Office (ATO). If the company’s sales revenue is less than AUD100,000, an audit exemption will be granted;
- A public register of shareholders and directors is publicly available. Although this limits privacy, it enhances commercial transparency in Australia;
- Our Clients should expect to pay a 47% tax on net profits in Australia including i) corporate tax of 30% ii) VAT on sales of 10% and iii) employer’s social security contribution of 13% of gross salaries.
Why invest in Australia?
- Australia KPMG – Doing Business in Australia
- Australia PwC – Doing Business in Australia
- 2013-14 Worldwide Corporate Tax Guide – Australia
- PWC – Australia Tax Summary
- Doing Business 2015
- The Australian Economy and Financial Markets 2015
Frequently asked questions
How many directors are required for starting a new business in Australia?Only 1 director is required when registering a company in Australia, who must however be resident. Healy Consultants may provide our Clients with a nominee resident director.
How many shareholders are required for registering a company in Australia?Only 1 shareholder is required for business registration in Australia.
Is it mandatory to have a resident director or shareholder for subsidiary company registration in Australia?Yes. A resident director will be required for registering a company in Australia, even if its owner is a single corporate shareholder.
How to register a business in Australia?For business registration, our Client will be required to i) reserve the company name ii) supply an Australian office lease agreement iii) sign the company setup forms iv) register for tax and social security and v) obtain a business license.
Healy Consultants is an expert at registering new companies in Australia and will assist our Clients at every step of their business venture in Australia.