Understand the Jurisdictions Setup Requirement Before Proceed Your Register Company in Australia
A diverse and vibrant country, Australia is already home to several international companies that have some to seek the opportunities the Australian market has to offer. From small to medium and large sized companies, with a country as large as Australia there’s an opportunity for everyone to begin a new venture.
Rates as the 7th in the world for the ease of doing business by the World Bank, setting up a business and registering a company in Australia can easily be done within the span of a week.
Why register a company in Australia?
There are several reasons why an investor would choose to register a company and set up a business in Australia. The proximity of the country to other Asia Pacific economies in certainly one compelling reason to do so. A strategic location can make a big difference to your business success.
Other reasons include that the country has a strong business and consumer base and a strong technology sector to add to that. Australia is also strict about protecting its Intellectual Properly. Speaking the universal language, English, also makes it easy for international investors to set up a base business here because of lack of a language barrier.
Australia also has been a performing economy the past few decades, and their economic success is mainly due to the sound fiscal management systems the country has, the strong growth population and not to mention its rich natural resources especially in iron ore, coal, gold and gas. All these have given the economy a boost and tools it needs to just keep growing.
Registering a company in Australia – How to get started
For international investors who are looking to register a company and start a new venture in Australia, there’s a couple of things that you would need to know before you begin this process:
- Getting the right visa. All visas can be acquired from the Department of Immigration and Border Protection. You would first need to assess the type of visa you are applying for among the options available. Choose the one that is best suited to what you want to accomplish. Some examples of visas include the Business Innovation and Investment Visa and the Business Talent Visa.
- Choosing the right business entity. Some options of business entities in Australia include a Limited Liability Company (also known as a Private Proprietary Company), Australian Trading Trust, Limited Liability Partnership and Public Limited Company. Determine the strengths and weaknesses of each entity, and select the one that is best suited to your business needs.
- Adequate funding. Before registering a company in Australia, be sure to have enough funds with surplus to cover all the expenses you need during the business set-up process.
- Understand the legal requirements. Every country has different laws and regulations when it comes to setting up and running a business. Familiarise yourself with what the requirements are in Australia before your begin.
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