Setting Up Business in
Australia

Company Formation in Australia

TBA will be happy to assist you to:

Establish an Australian limited liability company
Provide your Firm a local business address
Offer accounting and taxation support and
Open a corporate bank account (if required)

You will not have to travel to complete company formation. TBA will complete all related tasks on your behalf.

To be able to engineer the optimum Corporate Structure for your business, it is important for us to have a good understanding of your business and your personal objectives. In this respect, we think it will be advisable to discuss the different Australian corporate solutions available to you. Feel free to contact and email us with your purposes for this company registration.

Australia Company Formation

A properly structured Australian private limited company is an excellent corporate vehicle through which, business in Australia, and internationally, can be conducted. The following information will help you determine whether Australia Company formation is the optimum structure to meet your business objectives

Advantages of Incorporating in Australia

• An Australian Company projects an excellent image to your customers and suppliers.

• There are no minimum capital requirements with Australia Company formation.

• Only one resident director and shareholder are required to meet Australia Company formation regulations.

• Australian Company formation permits 100% foreign ownership.

• It is easy to open corporate bank accounts all over the world to support Australia Company formation.

• According to a World Bank survey, Australia is one of the easiest places in the world to do business.

• The government provides various incentives to investors to support Australia Company formation.

Australia Corporate Structuring

Important factors to consider when determining whether an Australia Company is the optimum corporate vehicle include for your business;
An Australian Company will be subject to an annual audit; and. in accordance with Section 145 (1) of the Australian Companies Act 2001, every Australian Company shall have at least one director who is ordinarily resident in Australia. Most of our Clients request TBA to be the resident director.

In accordance with GST Law, an Australian Company is obliged to register for GST. TBA will be happy to assist you with GST registration.

Types of Entities in Australia
Proprietary and Public Companies

A proprietary company is one that is limited by shares and the number of members is limited to 50 non-employee members (counting joint holders of shares as one person) and not counting a person who:

• Is employed by the company or any of its subsidiaries and is a member of the company, or

• Was an employee of the company or any of its subsidiaries when he or she became a member of the Company.

The Constitution of a proprietary company usually restricts the transferability of its shares by bestowing absolute discretion upon the Directors and a proprietary company cannot offer its shares for sale or subscription to members of the general public

All other companies not covered by the above definition are deemed to be public companies.

Incorporation procedures

• Completion of Corporate Structure document;

• Our Incorporation Team performs a company name search with the Australian Regulatory Authority and if approved, we begin incorporation of your Australian Company;

• Preparing the following corporate documents for filing with the Australian incorporating authority: – The Memorandum and Articles of Association; – A Statutory Declaration of Compliance; and – A Notice of Situation of Registered Office.

• TBA receives an email of the Certificate of Incorporation from the Australian Registrar of Companies. Our team will immediately email the same to you;

• Filing the following documents with the Australian Company Registrar: – Notification of Appointment of First Directors and Secretary; – Letter of Appointment of First Directors; and – Consent to Act as Director.

• Applying for the original Business Registration Certificate and paying the Government taxes and levies.

• Preparing all post-incorporation documents, including minutes of the first meeting, preparation of By-Laws, issuance of initial Share Certificates. These documents are emailed to our Client for his/her signature;

Upon receipt of client signed corporate documents, TBA couriers a company kit folder to our client containing the following original corporate documents: – Original copy of Certificate of Incorporation; – An original bound copy of the Memorandum and Articles of Association; – Subscribers’ resolution appointing first directors; – Original share certificates; – An original printout of the Company structure from the Australian Public Register.

Disclosure of Beneficial Ownership to Authorities

Companies must disclose on incorporation and whenever situations change: the ultimate holding company (if any) of an Australian Company, and whether or not shares held by a registered member are beneficially held.

Key Corporate Features

General

Type of Company	Proprietary Limited
Type of Law	Common
Shelf Company Availability	No
Time to Establish a New Company	3 Days
Minimum Government Fees (Excl. Taxation)	AUD495 1st Year
	AUD267 p.a. thereafter
Corporate Taxation	30%
Double Taxation Treaty Access	Yes
Share Capital or Equivalent
Standard Currency	AUD
Permitted Currencies	AUD
Minimum Paid Up	Concept Not Applicable
Usual Authorised	Concept Not Applicable
Directors
Minimum Number	1
Local Required	1
Publicly Accessible Records	Yes
Location of Meetings	Anywhere
Shareholders
Minimum Number	1
Publicly Accessible Records	Yes
Location of Meetings	Anywhere
Company Secretary
Required	No
Local or Qualified	Yes, if Appointed
Accounts
Requirements to Prepare	Yes
Audit Requirements	No, but Large or Overseas Owned Companies Require an Audit
Requirements to File Accounts	Yes, if Audit Required
Publicly Accessible Accounts	No, but Yes if Filed
Other
Requirements to File Annual Return	No, Annual Review
Change in Domicile Permitted	No