5 Things Foreign Citizens Should Know About Starting a Business in Australia

As a foreigner looking for safe place to run a profitable business, Australia is bound to be at the top of your list. If you have already made up your mind, however, putting your plans into action may require a bit of work. Have a look at some of the most fundamental and essential elements you will have to do deal with before officially starting your business.

Key Elements that Must be Based in Australia

No matter whether you are planning to start a brand new business in Australia while being a citizen of another country, or a branch of an existing foreign business registered outside of Australia, you will be considered as doing business in this country. As a result, there are certain guidelines you must meet in order to conduct business and remain operational:

  • first, you must have a registered office with an address in Australia. Typically, many foreigners use shelf companies for this purpose, and then purchase add on registered office services as part of the purchase package. For example, (name) offers these services and much more to foreign citizens looking to own a business in Australia with the minimal amount of difficulty.

  • Certain key company officers must also reside in Australia. This includes the company director, who is responsible for managing contracts and overseeing every aspect of the business. The registered agent that receives correspondences related to taxes and other government matters must also reside in Australia. Finally, it is often beneficial for the secretary or treasurer to reside in Australia. As with registered office services, you can also purchase resident director and registered agent services from (name).

  • As long as you are doing business in Australia, you must also register with ASIC even if you aren’t necessarily planning to offer stocks.

  • Contrary to popular belief, you do not need to open a corporation as a foreign citizen to operate a business in Australia. You can still use a partnership structure or a trust. That being said, you should still carefully review your options so that you do not wind up trying to change the structure later on to account for growth and development. Given the complexities associated with owning and operating a foreign business, you will not want to have problems in Australia let alone in relation to international laws when trying to make these kinds of changes.

Registering Your Business

Regardless of the business type you plan to operate in Australia, trying to file on your own is the worst thing you can do. Consider the following places where you can run into all kinds of problems:

  • when you operate a business outside of your nation of citizenship, you must always be aware of the laws and trade agreements made between those two countries. Without the expert advice of a company such as (name) during the registration process, you can easily wind up filing the wrong paperwork or missing out on important things that must be addressed to ensure the business remains legal at all levels of jurisdiction.

  • As with your country of citizenship, Australia also has its own laws when it comes to regulating businesses, levying and collecting taxes, and ensuring the business market remains as safe as possible from crime and unethical behaviours. This, in turn means that if you are going to operate a business on Australian soil, you must also comply with the laws of the nation. Regardless of what the laws are in your own country, you must still meet your obligations to the Australian government for subsidiaries, branches, or other structures operated in Australia. Under these circumstances, having an expert on Australian business law available to attend these matters is very important. Fortunately, when you sign on with (name) for the foundation of your business, it is also very easy to obtain additional services related to making sure your company remains in good standing with the Australian government.

Navigating Legal and Compliance Matters

Even though you may be an experienced business owner or investor in your native country, that does not mean you can easily transfer that knowledge and expect it to work for all areas of Australian business law. While you can more than likely manage the basics, the fine points are the places where you can wind up with all kinds of fines and fees. This is just one of many reasons why the Australian government specifies that all businesses operating in Australia must have a resident director that holds citizenship in this country. While citizenship is a key factor for compliance, it is also important for you to think above and beyond the basics.

In this case, you will be well served by hiring a resident director consulting service to manage your business needs. Remember, as a foreigner doing business in Australia, you will have to deal with that learning curve on top of the interface with international law. On the other hand, when you hire a consultant from (name), you will be appointing someone as resident director that already has years of experience with managing companies owned by foreigners. In fact, we are one of just a few companies that have the experience and background required to manage the complexities associated with a foreign business owner operating in Australia. Not only are we fully able to meet the most fundamental requirements of Australian law, we have all the tools necessary to ensure your business has the best possible chance of focus exclusively on building your business instead of wallowing in compliance and legal matters.

Investing vs. Owning

Many people that are interested in making a profit out of the Australian business market don’t necessarily have an idea for a product or service that can be shaped into a business. On the other hand, if you have capital to invest and want safety combined with a robust rate of return, few places offer the opportunities you will find in Australia. As a result, you may want to consider investing in an existing Australian business as opposed to owning and operating one. Here are some things to consider with each option:

  • as a foreign citizen, you will still need to appoint a director that has citizenship in Australia. This, in turn, means that even though you own the business, you will still need firm contacts with reliable people in this country. If you have a viable business idea and the capital to pursue it, you can purchase Registered Director, Agent, and other services from (name) to facilitate this process.

  • Choosing to invest in an Australian business is similar to investing in any other business in the sense that you will not be concerned with the day to day operations of the business. Therefore, if you have a specific business niche in mind and like what you see in specific businesses, buying stock, making private loans, or investing through other means may be your best option for entering the Australian business market.

  • You must think carefully about the level of involvement you want in upper management and ownership related operations. In general, it is always going to be harder to increase your activity in an established company if you do not take advantage of time related windows. On the other hand, building your own business in Australia can also come with a lot challenges that require time and effort to overcome.

The Best Way to Get Started

When it comes to starting a profitable business in a foreign country, you need expert advice from people qualified to provide that information. Here at (company name), we have been helping people just like you get the best start possible in the Australian business sector. Not only will we assist you with the business registration process, we can easily help you meet all of the requirements for operating and maintaining a business in Australia. We are proud to say that we are the best way for any foreign citizen to get started with owning a business in Australia. Simply visit our website today and let us know what kind of business you are interested in starting. One of our agents will be glad to assist you every step of the way to getting your business up and running as quickly and smoothly as possible.

Not so long ago, many foreign citizens looked upon Australia as novel business market with a relatively poor economy and few opportunities. Today, the shifting geopolitical landscape is making these very same naysayers look at Australia in a different light. Because we are isolated from some of the most dangerous hotspots in the world, our nation is also one of the safest places to start a new business. When combined with a growing infrastructure and increasing wealth among Australian citizens, it stands to reason that foreign citizens might see Australia as a prime business market. If you are in this category, do not hesitate to visit our website and see what we can do to help you and our nation profit.