For carrying out business in Australia, most foreign clients set up private limited companies (proprietary companies) in Australia. The company can be wholly owned by a foreign company (as a subsidiary) or by a foreigner.
The basic requirements of setting up the company include: Local registered office, resident director, and resident public officer in Australia. If at the initial stage when you set up the office / company, you do not have such facility, we can provide the services to you. Company secretary may or may not be appointed. If it is appointed, at least one of the secretaries of the company must be Australian resident.
Besides, the Australian law requires companies to maintain various records and registers of accounting and administrative transactions, lodges annual tax returns and audited financial statements with the ASIC from time to time but there may be exemptions available.
2. Our services:
We can provide you with a full range of services for setting up and administering your company in Australia, which includes:
– Incorporation, registration and structuring of the company, including registration with the local authorities (ASIC), obtaining Australian company number and Australian business number, tax registration, etc.
– A full set of corporate documents.
– Registered office in Australia
– Resident director, resident agent, resident public officer and tax agent services
– Nominee shareholder, if required
– Company secretary and ongoing corporate secretarial and compliance services
– Assistance in opening and operating bank accounts in Australia
– Preparation of financial statements, book of accounts, auditing and filing of tax returns in Australia
– Virtual office in Australia: Correspondence address and mail forwarding services
3. The fees:
Please find our fee for setting up the company for your reference. The fees include GST. The cost mainly includes:
– Establishing companies: A$4,145. This includes ABN (Australian Business Number) & TFN (Tax File Number) registrations.
– Registered office address in Australia: A$660 per year
– Resident director services or resident agent services: A$5,500 per year. Please note that when we supply this service, a refundable deposit of A$3,000 is required. If you can provide an Australian resident as the company director, this service will not be needed.
– Resident public officer and tax agent services: Free if we also provide the services of preparing and lodging financial statements and tax returns in Australia. Otherwise there will be a charge for reviewing and filing documents.
– ASIC Annual Review Fee: This mainly is a statutory fee paid to ASIC. Please refer to the attached quote.
– Management accounting services: Based on activity / time cost. When we appoint officers to the company, we will prepare accounts and when appropriate arrange for audit.
– Assistance in bank account application in Australia: The minimum fee is A$1300.
4. Application requirements:
The application procedures of setting up the company are simple. The company members do not need to come to Australia for setting up the company. You may simply send us the following documents by fax / e-mail with the fees, we can then start the process immediately, whilst you forward the certified copies / originals to us by mail. After the company has been incorporated, we will send you the company documents to sign by courier.
Following are the required documents:
– Fully completed and signed application form (attached) with personal details of all the parties involved in the company, and the intended business activities, products and services of your new company (This can be given on the application form or as a business plan)
– Passport copy (the page bearing the photograph of passport holder) and signature verification of each director, shareholder / owner, bank account signatory, and managing agent (if any). These copies have to be certified by lawyer, accountant, banker, or notary public. Please see the attached sample.
– An original residential address proof of each director / shareholder / bank account signatory / managing agent (e.g. recent utility bills or bank / credit card statements). Note: P.O. Box is not acceptable as residential address.
– CV of the owners, directors with information about his / her experience related to the intended business activities of the company (A CV is optional, you may fill in the background in the application form, and fax / e-mail to us the scanned copies of applicants’ business cards, if any)
Note: All documents must be in English. If not, translation by an independent translation company will be required.
If the shareholder or director is a company, documents related to the corporate shareholder / corporate director will be required. I will send you a list of required documents if this is the case.
Besides, if resident director is to be provided, a due diligence questionnaire is required to be completed, and I will send it to you.
5. Timeframe and steps
Once we have received the application documents and the payment, we will proceed with application with the Australian Securities and Investments Commission and prepare the corporate documents. For a general case without special license requirements, the Australian Company Number can be issued shortly. I will be pleased to check for you if a new name is available for registration in Australia.
The whole process will be:
Step 1: Complete all required documents to apply for setting up the company, and e-mail or fax to us (please also send us the originals as soon as possible)
Step 2: Once we have received a full set of the application documents and the payment of the fees, we will start processing the incorporation of your company.
Step 3: The company will be incorporated in a couple of days. The corporate documents will be ready for signature within a week.
Step 4: We will send you the company documents to sign
Step 5: After the whole set of original documents have been returned to us, we will complete the necessary filing and send you a company kit containing the whole set of company documents and chop.