Australian Resident Company Formation
Australia, officially the Commonwealth of Australia, is a sovereign country comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands. It is the largest country in Oceania and the world’s sixth-largest country by total area. The neighbouring countries are Papua New Guinea, Indonesia, and East Timor to the north; the Solomon Islands and Vanuatu to the northeast; and New Zealand to the southeast. Australia’s capital is Canberra, and its largest city is Sydney.
Australia is the only country in the world which occupies an entire continent. It is a federation which consists of six states and two territories. The official Head of State is the Queen of the United Kingdom, whose representative in Australia is the Governor-General. This unique status makes it an attractive destination for Australian Resident Companies.
Known worldwide as a highly developed country with a standard level of taxation and a high rating in international business circles, Australia does not have the reputation of a country with a privileged tax system and, therefore, enjoys a good image with entrepreneurs and government bodies. This favourable reputation benefits Australian Resident Companies.
Ranked as the world’s 12th largest economy, Australia is a member of the G20, OECD, WTO, APEC, UN, Commonwealth of Nations, ANZUS, and the Pacific Islands Forum. English is the de facto national language, facilitating international business activities for Australian Resident Companies.
Australian Proprietary Limited by Shares (Pty. Ltd.) Companies are not considered offshore companies, emphasizing their legitimacy and transparency within Australia.
Company Law considers a company that intends to do business in Australia must 1) Register with the Australian Securities and Investment Commission (ASIC), 2) Apply for an Australian Business Number (ABN), 3) apply for a Tax File Number (TFN) and 4) register for GST, ensuring compliance for Australian Resident Companies operating in the country.
The presence of Australian Resident Companies contributes significantly to Australia’s economic growth and development, bolstering its status as a hub for international business and investment.
Australian Resident Companies benefit from Australia’s robust legal and regulatory framework, ensuring a stable and secure environment for business operations.
Australia’s strong economy and political stability make it an attractive destination for entrepreneurs and businesses looking to establish Australian Resident Companies.
Establishing Australian Resident Companies aligns with Australia’s commitment to providing a business-friendly environment that fosters economic prosperity and competitiveness in the global market.
For additional information about Australian Resident Company, you can check the site Consil Formation.
Advantages of Australian Resident Company Formation:
If you are interested in the Australian Resident Company Formation, you can contact us any time.
Summary of Australian Resident Company Formation and main characteristics:
| General Information | |
|---|---|
| Type of company | Proprietory Company Limited by Shares (Pty. Ltd.) |
| Corporate Legislation | Australia Corporations Act 2001 Legal system: Common Law |
| Taxation | Standard Corporation Tax – 30% Tax on Dividends for foreigners – 0%, on certain conditions; Standard GST rate – 10% |
| Currency | Australian Dollar (AUD) |
| Paid up capital requirement | No paid up capital required |
| Time zone | GMT (UTC) +8, GMT (UTC) +10 |
| Directors | |
| Minimum no. required | 1, individual |
| Local Director required | Yes, at least one Director must be a resident of Australia, other Directors may be from any legal jurisdiction (can provided by Consil Formation) |
| Location of Meetings | Anywhere |
| Shareholders | |
| Minimum no. required | 1 |
| Location of Meetings | Anywhere |
| Company Secretary | |
| Required | Optional |
| Local Secretary required | If appointed, a Secretary must be a resident of Australia. |
| Registered office required | Yes, local |
| Share Capital | |
| Standard Currency | AUD($) |
| Standard Authorized Capital | AUD 1,000 |
| Minimum paid up capital | 1 AUD |
| Accounting Requirements | |
| Preparation of accounts | Required every year(can be completed by Consil Formation) |
| Requirement for audit | Only if Large proprietary company - consolidated revenue > $25 million |
| Accounts public accessible | File Accounts only if Audit Required. Publicly Accessible Accounts only if filed |
| Requirement to file Annual Return | No |
| Further Information | |
| Bearer shares | No |
| Confidentiality | Yes |
| Nominee services | Available |
| Need to travel | No |
| Apostille | Yes, Hague Convention 1961 |
| Owners | Individuals or Corporate |
Register your Australian Resident Company Formation
- Document Notarization per document: € 470
- Bundle of documents Notarization;
- Document Apostillation per document;
- Bundle of documents Apostillation.