12 steps to incorporating in Australia
- Our Client i) settles Healy Consultants’ engagement fees and ii) couriers the signed engagement letter and the requisite due diligence documents;
- Our experts draft a detailed engagement plan, detailing by week every step towards engagement completion. In our experience, this step settles our Client’s expectations and optimizes transparency and efficiency;
- Healy Consultants and the Client agree on i) the new company name and ii) the corporate structure. Thereafter, our Client signs i) the board resolution (shareholders) authorizing company incorporation and ii) consent forms (directors and shareholders);
- Healy Consultants checks name availability with the Australian Business Register (ABR). If available, we complete and submit Form 410 to formally reserve the same. To hasten the setup process, our experts recommend incorporating the company initially using a nominee director and shareholder;
- Healy Consultants submits Form 201 to the Australian Securities and Investment Commission (ASIC) to secure company incorporation. Thereafter, Healy Consultants emails our Client registration certificates including i) the public profile of the company and ii) the certificate of incorporation and iii) the unique nine-digit Australian Company Number (ACN);
- Healy Consultants secures tax registrations with the Australian Tax Office including i) the Australia Business Number (ABN) for the company and ii) the Tax Filing Number for relevant individuals;
- Using the corporate key, our experts submit an online application to the modify the company structure. Once complete, Healy Consultants emails our Client the new public profile of the company;
- Healy Consultants approaches Australian banks to setup a new corporate bank account for the company. Our preferred banking partners include Westpac, ANZ, CBA and NAB;
- Healy Consultants couriers i) the completed bank account opening forms and ii) passport copies & proofs of addresses of all directors, shareholders and signatories. Where possible, our bank account team will meet with the bank officer to prevent our Client having to travel for an account opening interview;
- If required, Healy Consultants registers the company for i) GST with the ATO (if the annual turnover is higher than AU$75,000) and ii) Worker Compensation Insurance with the local insurance agency (if the company plans to hire local employees);
- Every Australian company is required to submit an annual return to ASIC on the anniversary of its inception. Healy Consultants will assist our Clients with fulfilling this annual obligation as a part of our accounting and tax services package;
- The process of company registration is complete. With the engagement complete, Healy Consultants couriers the full company kit to our Client; the kit includes the original corporate documents including: Certificate of Registration, company constitution, share certificates, register of members and directors, the corporate key; unopened bank correspondence and a feedback form.
Phase 1 – Nominee company setup
Phase 2 – Change of directors/shareholders
Phase 3 – Corporate Bank account opening
- Signed director consent forms;
- Signed shareholder consent forms;
- Signed office agreement;
- Notarized passport copies of all directors and shareholders;
- Notarized proofs of addresses of all directors and shareholders;
- Signed corporate bank account opening forms.
Frequently asked questions
Is a resident director required for Australia business incorporation?Yes. A company resident director will be required when our Clients incorporate an Australia company.
What are the minimum capital requirements when incorporating a company in Australia?When incorporating in Australia, only AU$1 will be required for starting a limited liability company.
What kind of incorporation services in Australia can Healy Consultants offer my firm?As Australia incorporation service providers, Healy Consultants will assist our Clients with i) company incorporation ii) business license registration iii) immigration solutions iv) employment strategies v) business banking solutions and vi) office rental requirements. Our Australia incorporation specialists will send our Clients weekly updates till engagement completion.
What will be the Australia incorporation timeline?Australia company incorporation takes only 1 week.
Are there any business restrictions for foreigners when incorporating in Australia?No. Foreigners incorporating in Australia face no restrictions as to the type of business activity they can perform, provided they appoint one resident director for their company, who can however be of any nationality.