Offshore companies in Australia

Australia is a state that can work based on the offshore principle. The conditions for an effective business doing at sufficiently favorable and convenient conditions are created in it. "The smallest continent" as a place of firms registration is chosen due to the investment attractiveness of the country, a high level of assets security and numerous perfectly legal ways to minimize the tax burden. In this sense, Australia is offshore with all its advantages, but without the drawbacks inherent to known jurisdictions with preferential fiscal policy.

In the country, it is possible to create representations of external enterprises and to open companies intended to run a small business - analogs of private entrepreneurship, associations and partnerships. For activities on a significant scale, it is more convenient to use open or closed joint-stock companies with a convenient to you way of the responsibility allocation:

• unlimited liability and equity divided by shares;
• liability limited by shares belonging to the participants - the company can acquire real estate, it must have at least one director, there are no requirements to the capital;
• limited liability under warranty.

All basic information on the name, amount of capital, management and shareholders is in the public domain according to the Australian rules.

How to create a company in Australia

An establishment of a company in Australia is a procedure that allows you to start a business in the territory of the country, due to the local legislation prohibits it to foreign companies and their representative office. However, a branch of an external organization (Australian branch) will allow working legally. Such enterprises can be subjected to the rules for the foreign investments regulation, therefore, for a greater "reliability", the traditional type companies are established in Australia. Each of them shall be obligated:

• to become a taxpayer and, in most cases - to license activities;
• to keep full accounting and provide annual and other reporting within the time-frame established by law;
• to provide insurance to all employees;
• to keep minutes of meetings and register of shareholders and directors.

All legal entities are registered with the Australian Securities and Investments Commission (ASIC) within 7 days. Documents required for a company registration in Australia: application, the company's charter, a confirmation of the company name reservation from ASIC Service Center; for foreign companies - all registration documents from the country of registration (the certificate must be apostillized).

For non-residents there is a tax regime, according to which only received in the territory of the state profits are taxable. As a rule, the rate for companies is 30%, but there are opportunities to reduce it. Also in Australia there is a 10% VAT. Upon the establishment of a company, a tax number ABN is issued and the company can issue a domain name for its website. Registering of a company in Australia is not the only formality. In addition to the company creation you need:

• to be registered as a taxpayer and open a bank account - Payment Gateway or Merchant Account;
• to keep primary accounting - licensed accountants are hired for this purpose;
• within a period of up to 28 days to notify the supervisory authorities of any changes (legal address, directorship, distribution of shares) - this can be done by a hired corporate secretary.

The procedures for a company opening in Australia take from one to two weeks, after which you can start a business in the country that is not included in any of the "black" lists. Please, contact the employees of "Prifinance" to simplify the process of a company establishing as much as it is possible. We will help you to comply with all the formalities and start working as soon as possible.