Since 2003, Healy Consultants has assisted our Clients with business registration in Australia. Our services include i) Australia company 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 incorporated within one week, with a minimum of one shareholder and one director of any nationality. The minimum paid up share capital is US$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 Australian. Most of our Clients request Healy Consultants to be the resident director. If required, Healy Consultants resident director service fee amounts to AUS$6,450 per annum. When appointing a nominee Healy Consultants collects a refundable deposit of AU$1,500 per nominee;
- Business registration in Australia is simple and fast. It requires a minimum of one director and one shareholder. Business registration of a limited liability company (LLC) allows 100% foreign ownership and it has no minimum capital requirements;
- Offshore company 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 the excellent image, Australia business is a suitable corporate vehicle to promote to Clients, suppliers, investors, and venture capitalists;
- An Australian Limited Liability Company (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 incorporating an Australian company will benefit from a reduced tax payments from July 2015 onwards, as the government has committed to reduce 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 indeed a safe currency-haven, 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 Deloitte – Economic Outlook of Australia
- Australia Deloitte – Taxation and Investment Guides
- Australia Deloitte – Australia Highlights 2013
- Australia KPMG – Doing Business in Australia
- Australia PwC – Doing Business in Australia
- 2013-14 Worldwide Corporate Tax Guide – Australia
- PWC – Australia Tax Summary
Australia company incorporation costs in Year 1 amount to AUD$2,290 and annual company costs in Year 2 and thereafter amount to AUD$760. The average fee per engagement amounts to AUD$11,000, which includes company registration, opening bank accounts, providing a legal registered office address, and GST, TFN and ABN registration.
|1.||Average engagement costs||AU$11,000||AU$12,950||AU$6,500||AU$6,500||AU$6,450|