Australia company registration

DOING BUSINESS IN AUSTRALIA IN 2020

pay fee by instalmentsbusiness setup without travel

Since 2003, Healy Consultants Group PLC has assisted our Clients to register a company in Australia. Our services include i) registration of company in Australia; ii) government license registration; iii) corporate bank account opening services in Australia and abroad; iv) employee recruitment services; v) visa strategies; and vi) office rental solutions in Sydney and other Australian cities.

Compare different Australian entitiesTax resident LLCTrading trustBranch companyRepresentative officeLLP
Best use of company?All products and servicesOnly pay tax on distributionsCompleting projects without an officeMarketing and researchProfessional services
Legally tax exempt if properly structured?NoYesNoYesYes
Corporate bank account location?WestpacANZ New Zealand Standard CharteredHSBCCommonwealth
Client must travel to Australia?NoNoNoNoNo
Can secure trade finance?YesNoYesNoYes
Limited liability entity?YesYesNoNoYes
GST payable on sales to local customers?10%10%10%No10%
Withholding tax on dividends to foreign shareholders?30%30%30%No30%
Australia tax payable on worldwide income?YesNoYesNoNo
Average total engagement costs?AU$9,077AU$21,076AU$10,090AU$9,000AU$8,927
Average total engagement period?8 weeks10 weeks10 weeks10 weeks9 weeks

See full table

Accounting and tax considerationsTax resident LLCTrading trustBranch companyRepresentative officeLLP
Statutory corporation tax payable?30%0%30%0%0%
Must file an annual Australia tax return?YesYesYesYesYes
Must file annual financial statements?YesYesYesYesYes
Investment income is legally tax exempt in Australia?NoNoNoNoNo
Access to double taxation treaties?YesNoYesNoYes
Monthly GST reporting to the Government?YesYesYesNoYes
Legally tax exempt entity?NoYesNoYesYes
Must appoint a public officer?YesYesYesYesNo
Dividends received are legally tax exempt?NoNoNoNoNo
Company registrationTax resident LLCTrading trustBranch companyRepresentative officeLLP
Australia Resident director/partner/manager required?YesYesYesYesYes
Minimum number of shareholders/partners/beneficiaries?11Parent companyParent company2
Minimum number of directors/managers/trustees?11112
Minimum paid up share capital?NoneNoneNoneNoneNone
Shelf companies available?YesNoNoNoNo
Time to incorporate a new entity?1 week3 weeks2 weeks2 weeks1 week
Can easily convert to a local PLC company?YesNoNoNoNo
Can have preference shareholders/partners/beneficiaries?YesYesNoNoYes
Business considerationsTax resident LLCTrading trustBranch companyRepresentative officeLLP
Can invoice local customers?YesYesYesNoYes
Can hire local staff?YesYesYesYesYes
Can rent local office space?YesYesYesYesYes
Secures a residence visa for business owner?YesNoYesYesYes
Good entity for trademark registration?YesNoYesNoNo

Australia has signed free trade agreements (click link)?Yes, see AU FTAs page
This country is a member of WIPO and TRIPS?Yes
This country is a member of the ICSID?Yes
Average custom duties suffered?1.9%
Government foreign investment approval required?No
Average monthly office rental? (US$ per sq m)A$54
Minimum statutory monthly salary?AU$2,600
Average monthly US$ salary for local employees?AU$6,500
Australia $ deposit interest rate? (1 year average)2.5%
US$ deposit interest rate? (1 year average)0.75%
Overseas remittance currency controls?No
Public registrar of shareholders and directors?Yes
Banking considerations
Multi-currency bank accounts available?Yes
Corporate visa debit cards available?Yes
Quality of e-banking platform?Excellent
Crowd funding available in this country?Yes

Australia business setup summary

  1. Starting a business in Australia is straightforward, with incorporation typically taking one week. Besides an LLC, some of our Clients set up either branch or representative offices. Some of our Clients opt for our Australian turnkey solution if they need to urgently close business deals in Australia. See this page for information on average Australia engagement timelines;
  2. A key challenge for a foreigner looking to start a business in Australia is to fulfil the statutory requirement for an Australia-resident director. Healy Consultants Group PLC offers professional Australia resident director services if required;
  3. An Australian company is subject to a standard federal corporate income tax of 30%. See this page for a comparison of Australian States;
  4. Company registration in Australia can be completed with a capital of A$1. There is no need to open a corporate bank account in Australia and the company can have an overseas account;
  5. Australian immigration rules are tight. See this page for further information on how to relocate to Australia.

Press the link headings below to read detailed, relevant, up to date information.

  • Benefits and problems

    Benefits of doing busines in Australia

    Australia business registration advantage

    1. Private company registration in Australia is straightforward because:
      • An Australian company can be registered with a capital of A$1 by one director and one shareholder of any nationality. Healy Consultants Group PLC will provide our Client with their Australian Company Number (CAN) and Tax File Number (TFN) within one week. Australian Business Number (ABN) registration can, however, take up to six weeks;
      • Australia is home to a large number of reputable local and international banks. Healy Consultants Group PLC has excellent relationships with these banks, and our Clients can open bank accounts without travelling to Australia;
      • Australia is considered one of the world’s best locations for starting a business.
    2. An Australian company can access a range of incentives and agreements:
      • Australia has a wide network of Free Trade Agreements with countries and economic blocs around the world;
      • The Australian Trade Commission (Austrade) helps Australian companies find overseas markets for their products and services. Austrade also identifies potential investment projects and strategic alliance partners for those intending to pursue Australia business registration;
      • Our Clients registering an Australian company enjoy a reduced tax rate of 26% (compared to the previous corporate tax rate of 27.5%) if aggregated annual turnover is less than A$2 million;
      • Australia is ranked in the top 10 of OECD member states for its total expenditure on research and development (R&D);
      • Dividends and capital gains received from Australian and global subsidiaries are subject to a reduced corporate tax rate of 15% if i) the shares have been held for one year and ii) they represent over 10% of the subsidiary’s share capital.
    3. Australia has an ideal ecosystem to set up and grow businesses because:
      • It is economically and politically stable, with an efficient regulatory system;
      • Inflation is low, with a strong focus on economic growth;
      • Australia is technologically-advanced with an innovative work force;
      • The country is seen as an Asia Pacific business hub by other major regional economies.
    4. An Australian company is the perfect corporate vehicle for starting a new business since it enjoys an excellent reputation amongst Clients, suppliers, investors, and venture capitalists;
    5. Australia is an easy country in which to operate a business, since i) the language of business is English ii) Australia has a well-educated labour force and iii) the country has a well-developed financial sector.

    Problems with doing business in Australia

    1. In accordance with Section 201A of the Australia Corporations Act 2001, every Australian Company must have at least one director who is ordinarily resident in Australia. Most of our Clients request Healy Consultants Group PLC to provide the Australia resident director. If required, Healy Consultants Group PLC’s resident director service fee amounts to A$5,910 per year;
    2. Domestic and international income is subject to a standard corporation tax rate of 27.5%. Furthermore, every company is required to submit annual audited financial statements and a corporate tax return to the Australian Taxation Office (ATO). An audit exemption is granted if company sales revenues are less than A$100,000;
    3. There is a public register of shareholders and directors. Although this limits privacy, it enhances commercial transparency in Australia;
    4. Australia restricts foreign investment in the following sectors:
      • Residential real estate;
      • Media;
      • Telecommunications;
      • Transport;
      • Defence-related industries;
      • Encryption and security technologies;
      • Communications systems;
      • Uranium or plutonium extraction;
      • Nuclear facility operations.
  • Best uses for an Australian company

    1. Healy Consultants Group PLC recommends an Australian company as the ideal regional Asia Pacific base because:
      • There are a number of new growth industries emerging including i) cryptocurrency exchanges ii) online food and grocery delivery platforms iii) ride share and car share services iv) organic crop farming v) solar power and vi) IT consulting;
      • Australia is an excellent base from which to market products and services to stakeholders in New Zealand and the Pacific Islands.

Conclusion
Let us know if you require Healy Consultants Group PLC’s assistance for your Australia company registration.

Healy Consultants’ video on Australia & New Zealand business setup
Contact the presenter: Chrissi Zamora, CEO Europe & Middle East, Healy Consultants Group PLC

Tell us what you need - we’ll send you a customised proposal in 5 hours!

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Contact us

For additional information on our business registration services in Australia, please contact our in-house country expert, Ms. Evgeniya Salamonava, directly:
Consultant at HC - Evgeniya
  • Ms. Evgeniya Salamonava
  • Senior Client Engagements Manager
  • Contact me!
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