Frequently Asked Questions about Australia

The following are some of the most frequently asked questions about Australia Company formation:

Can an Australian Company conduct international business?

What makes Australia a good base for international Companies?

What are the tax incentives associated with incorporating a Company in Australia?

What are the negative tax implications of setting up an Australian Company?

What is the definition of an Australia-resident Company?

Do non-resident Companies enjoy and tax benefits?

How easy is it to open a corporate bank account for an Australian Company?

Are there any non-tax incentives available to investors planning to set up in Australia?

What are the criteria to be eligible for incentives?

Does an Australian Company need to prepare and submit annual accounts?

How many directors and shareholders must an Australian Company have?

Does an Australian Company need a resident director?

Are there any minimum capital requirements to set up an Australian Company?

Are Australian Company structure details made available to the public?

Can an Australian Company conduct international business?
A properly structured Australia private limited company is an excellent corporate vehicle through which business in Australia, and internationally, can be conducted.

What makes Australia a good base for international Companies?
An Australian Company projects an excellent image to your customers, suppliers and potential investors. Australia also permits 100% foreign ownership. In addition, Australia is considered one of the easiest places in the world to do business.

What are the tax incentives associated with incorporating a Company in Australia?
If income and capital gains have already been taxed in a foreign jurisdiction, then exemptions are available.

What are the negative tax implications of setting up an Australian Company?
Australia-resident companies must pay income and capital gains tax on worldwide-sourced income. The Australian corporate tax rate is 30%.

What is the definition of an Australia-resident Company?
A Company is deemed to be Australia-resident if it has been formed in Australia; if the Company's central management and administration is in Australia, even if it was formed in another jurisdiction; and if the Company conducts business in Australia and its voting control is in the hands of resident Australian shareholders, even though it was incorporated in another jurisdiction or its central management is in another jurisdiction.

Do non-resident Companies enjoy and tax benefits?
Non-resident companies are taxed only on Australian-sourced income and capital gains on the disposal of certain taxable Australian assets if acquired on or after 20 September 1985. (Capital gains on assets acquired before that date by non-resident entities are usually received free of Capital Gains Tax).

How easy is it to open a corporate bank account for an Australian Company?
It is easy to open an international corporate bank account to support an Australian Company.

Are there any non-tax incentives available to investors planning to set up in Australia?
The Australian government provides incentives on a case-by-case basis. Incentives include assistance in training, research & development (R&D) and export market development; streamlined immigration procedures; assistance with obtaining information for site selection and introductions to relevant government agencies and professional service providers.

What are the criteria to be eligible for incentives?
According to the government-run agency InvestAustralia, the Federal government provides incentives if it considers that a project offers significant economic benefits to the country.

Does an Australian Company need to prepare and submit annual accounts?
An Australian Company must submit annual accounts, tax return and undergo an audit.

How many directors must an Australian Company have?
Only one director is required. Corporate directors are allowed.

Does an Australian Company need a resident director?
To comply with Australian Company law, at least one Company director must be resident in Australia.

Are there any minimum capital requirements to set up an Australian Company?
There are no minimum capital requirements.

Are Australian Company structure details made available to the public?
There is a public register of shareholders, directors and beneficial owners of every Australian Company.

Contact Us

For additional information on any of our Australia corporate services, email email@healyconsultants.com or call us in Sydney at+61 280 147 568.

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