Australia comprises the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands. It is ranked the sixth largest country by total area.
It was discovered by Dutch explorers in 1606; Australia’s eastern half was claimed by Great Britain in 1770 and populated through penal transportation to the colony of New South Wales from 26th January 1788. The population has since grown steadily, after further exploration of the continent an additional five self- governing Crown Colonies were established.
The federation of six colonies took place on the 1st January 1901 forming the Commonwealth of Australia. Australia has a stable political system and is a federal parliamentary democracy with a constitutional monarchy. The Federation comprises six states and several territories.
Australia is ranked as the world’s 12th largest economy and 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.
- TYPE OF COMPANY: The most common type of company is a Proprietary company
- COMPANY LAW: Australia Corporations Act 2001
- SUFFIX TO DENOTE LIMITED LIABILITY: Pty Limited
- DIRECTORS: At least one resident director – we can provide. Corporate directors not allowed
- SECRETARY: Not required
- SHAREHOLDERS: At least one resident shareholder – we can provide
- CAPITAL REQUIREMENTS: No minimum
- OWNERSHIP: 100% foreign ownership allowed
- TIME TO INCORPORATE: One Week
- REGISTERED OFFICE: Required in Australia – we can provide
- ANNUAL RETURN: Yes
- ANNUAL TAX RETURN & ACCOUNTS: Yes
- DISCLOSURE: Beneficial owners disclosed to Australian Authorities and there is a public register of shareholders, directors and beneficial owners
- TAXATION: Resident companies 30%, non–resident companies are only taxed on Australian sourced income
- DOUBLE TAXATION TREATIES: Several
If you would like further information on setting up a company in Australia, the formation of an Australian company, other Australian corporate entities or require professional advice relating to taxation or the structuring and requirements of an Australian company, please contact us. We can also provide advice on establishing a subsidiary, joint venture or foreign company to carry on business in Australia.
We can provide a wide range of support and administration services, bank introductions, nominee directors, nominee shareholders, virtual offices, accountancy and legal services. We can also advise on compliance with all the regulatory and statutory requirements.