How to incorporate company in Australia?
Before you choose to incorporate company in Australia, Tetra Consultants advises you to read through this guide to fully understand the steps required for successful incorporation.
Simply put, we can break down each engagement into four different phases:
- Planning & strategy
- Bank account opening
- Staying compliant
By systematically following the above three phases, you can expect to start conducting business with your Australia company within 5 weeks.
Planning & strategy
- Depending on your business goals and activities, Tetra Consultants will recommend the most suitable business entity. Prior to incorporating Australia company, you will be advised on the optimum paid up share capital, corporate structure and whether there is a need to apply for any licenses.
- Once confirmed, Tetra Consultants reserves your preferred company name with the Australian Business Register.
- Before Tetra Consultants incorporate the Australian company, we will provide you a company secretary, a local registered address, a local resident director and a local resident public officer. The role of the public officer will act as your representative to Australian Taxation Office and submit accurate financial statements and corporate tax return.
- Tetra Consultants legal team will draft articles of incorporation, business plan and other required legal documents for Australia company incorporation.
- If you require Tetra Consultants to provide a local resident director, our legal team will prepare a legal agreement to be signed by all parties. This is to ensure you are well-protected and always in full control of the business.
- The appointed nominee director will have no decision-making power in your company. For transparency, Tetra Consultants will provide you the KYC documents of our nominee including passport copy and proof of address.
- Thereafter, Tetra Consultants will proceed to register the company with Australian Business Register. On average, you can expect the company to be incorporated within 1 business day.
- Once the company is successfully incorporated, Tetra Consultants will courier the Certificate of Incorporation, Memorandum & Articles of Association, Register of Directors and Register of Shareholders to your preferred addresses.
Bank account opening
- Simultaneously, Tetra Consultants will proceed to open a corporate bank account for your newly-incorporated company. You can enjoy leveraging on our extensive banking network and receive your bank account numbers within 4 weeks.
- Tetra Consultants will contact multiple reputable international or Australian banks and present your business to each relationship manager and compliance team.
- Some of the Australian banks Tetra Consultants work with include Commonwealth Bank of Australia, ANZ and Westpac.
- In most cases, Australian banks will not require you to travel to Australia for the bank meeting. In the event this is required, our nominee director will visit the local bank branch on behalf of you.
- On average, the corporate bank account will be opened within 4 weeks after Australia company incorporation. Tetra Consultants will courier the internet banking token and access codes to your preferred address.
- Within 6 weeks, you can expect Tetra Consultants to secure your newly-incorporated Australian company’s Australia Business Number (ABN) and Tax Filing Number (TFN).
- You can be confident you are in the best hands when Tetra Consultants undertakes your Australia company’s accounting and tax services.
- Tetra Consultants will timely prepare your firm’s financial statements, corporate tax returns and bookkeeping on your behalf.
- Tetra Consultants will complete all annual filings and tax returns for your company before the stipulated deadlines set out by the government.
- If you plan to be physically present and working in Australia, Tetra Consultants will secure an Australia work visa for you. Work visas are granted by Australian Government Department of Home Affairs.
- Some of the documents required are CV, highest academic qualifications, medical certificates, expected monthly income and job scope in Australia. Tetra Consultants will advise on the most suitable work visas as well as the expected timeline of each application.
Contact us to find out more about how to incorporate a company in Australia.. Our team of experts will revert within the next 24 hours.
Why should I invest in Australia?
- Australia offers numerous advantages for foreign investors which include its straightforward process to set up a company, its consistent growth in terms of economic and social growth offering a dynamic environment to set up along with its highly skilled workforce.
- Moreover, the level of governance in Australia has been one of the finest in the world, with the country ranked 12th in the World Bank’s Worldwide Governance Indicators.
What are the different types of entities available in Australia?
- The different types of entities available in Australia are Proprietary Limited Company (Pty Ltd), Sole-Proprietorship, Partnership, Trust, Branches, and Foreign representative office.
What are the minimum formation requirements for an Australian limited liability company?
- Setting up an Australian limited liability company has minimal requirements which include a shareholder of any nationality, a local resident director, a local resident public officer, a company secretary, and a local Australian registered address.
How long does it take to incorporate a company in Australia?
- Tetra Consultants will incorporate a company in Australia within 1 week. Corporate bank account to be completed within the next 4 weeks.
Do I need to have a local director to incorporate a company in Australia?
- Yes, as per the minimum requirement to incorporate a company in Australia, you will be required to have a local resident director.
Are there any yearly compliance requirements for a company in Australia?
- Yes, a company formed in Australia will be required to file annual financial reports and tax returns.