Australia is a remote but highly developed region that is regularly included in the lists of leaders in economic development. This state has inherited all the strengths of the UK, providing entrepreneurs with first-class guarantees and respect for the interests. Registering a company in Australia is an opportunity to gain access to the international market through an attractive jurisdiction.
How much does it cost to register a company in Australia?
The cost of opening a company in Australia from Lawrange is 2950 euro. The price includes a basic package of services, which includes:
- obtaining all necessary documentation for the company;
- assistance with determining the name of the future enterprise;
- coordination of the structure and activities;
- search and lease of a legal address for a period of 1 year;
- opening a bank account;
- direct registration of the organization at the registrar.
As a result of service at Lawrange, you receive a complete package of documentation, which includes the ASIC Certificate, Articles of Association, Share Certificate, Minutes, bank account and other important evidence.
Processing time – from 2 to 28 business days. The specific duration depends on the workload of the tax authorities.
Features of opening a company in Australia
Australia belongs to the list of developed regions, in which there is a fertile ground for services, tourism, finance and other modern industries. As the successor to Great Britain, Australia has absorbed all the iconic norms of English jurisdiction.
The most attractive form of doing business is the Private Limited Company (commonly known as Ltd). The minimum number of participants is 1, the maximum is 50. The legal form of ltd must have a registered address in Australia. It is also mandatory to have a resident director (that is why Lawrange separately offers the service of appointing a nominee director, the cost is 4999 USD per year).
There is no requirement to appoint a secretary, but if the organization hires specialists, then at least one of them must be an Australian citizen.
Reporting requirements are standard – each company must notify the authorities about its activities once a year.
A prerequisite is an open bank account in one of the accredited credit institutions of the country. Lawrange will organize for you the registration of requisites in the largest bank in the country – the National Australian Bank. If necessary, you can open a current account in other organizations.
Taxes for business in Australia
Before opening a company in Australia, it is advisable to familiarize yourself with the tax burden in the country. For businesses, there are the following tax liabilities:
- at a profit. The base rate is 28.5% (if the annual turnover is less than 75 thousand Australian dollars). Above the specified amount, the rate is 30%;
- VAT – 10%;
- preferential rate – up to 0% if the business conducts only international activities.
Thus, registering a company in Australia is primarily beneficial for international commerce. Due to the benefits, some experts classify the jurisdiction as offshore, but officially the state is a typical onshore with a good reputation.
What do you need to register a company in Australia?
To open a company in Australia, you must provide a notarized copy of your passport, utility bill and rights. Said documentation is submitted to the Lawrange representative, who sends it to the Australian registrar.
Strengths of jurisdiction
The country provides the following beneficial advantages for businesses:
- benefits for conducting international activities;
- access to the world market;
- perspective;
- prestige and loyal legislation.
Registering a company in Australia is an original way to open your way to the global market and at the same time not incur excessive obligations that are present in other jurisdictions. Thanks to the efforts of Lawrange, you save time and money on starting your business.
FAQ
The cost of registering a company in Australia
Registration service from Lawrange costs from 2950 euros.
What do you need to register a company in Australia?
For registration, you must provide a notarized copy of the passport, Utility bill and 3 options for the name of the future enterprise.
Advantages and disadvantages of jurisdiction
Pros: availability of benefits, prestige and access to the world market. There is only one drawback – if you conduct business exclusively in the jurisdiction, you will have to pay a significant income tax of up to 30%.
