Can a Foreigner Register a Company in Australia?
Australia is home to some of the most advanced breakthroughs in technology and business proceedings. With an increasing number of companies wanting to expand their business, it is no longer surprising that foreigners have also expressed their interest in establishing a business in the country.
To register a business in Australia as a foreigner, many things have to be considered, especially since legal sanctions will be meted to those who do not follow the proper procedures of registering your business. To help you through, here are some of the few things that you should know if you are planning to register a business in Australia as a foreigner.
Decide on your Business Structure
Setting up your business must first come by deciding what type of business structure you would like to be based on. There are multiple business structures that you can follow if you are a foreigner who wants to establish a business presence in the country. You can either set it up as a sole trader or partner with other business entities to help move you forward.
However, as a non-resident in the country, you can only put up your business if you collaborate with an Australian citizen. This implies that a partnership between an Australian born resident is needed before registering a business in Australia. Aside from these things, you also need to bear in mind that the following factors should also be considered:
• Required licenses and paperwork to be submitted
• Taxation
• Potential liability and control over the business
Over time, you still can waiver any changes regarding the business structure and collaborate with your partners in a meeting to decide what business structure to take on.
Decide on your Business Name and Intellectual Property
A business name is one of the first things you should consider when planning to register a business in Australia as a non-resident. Since it will be the first thing that your clients will look at, try to register a business name that can appeal to most of your target market and is easy to remember. Also, do not forget to check for the availability of these names to see if they can still be used.
For your best interests, it is highly recommended for you to consider protecting your assets, trademarks, and domain names to ensure that you hold legal rights over these intellectual properties.
Licenses
You should also be knowledgeable about the legalities involved in registering a business in Australia as a foreigner because different licenses may be required before you are given the rights to legally conduct operations in the business area. The Australian government is very strict when it comes to these terms and you are obliged to comply with the lists of required licenses. For your convenience, you can check the list of required licenses on the official Australian Website.
Conclusion
Registering a business in Australia as a foreigner can be a daunting task, especially that there are numerous factors to consider. Knowing the legal implications and sifting through the details of each requirement may prevent you from experiencing any potential delays and hassles. It is always an advantage to know these things.
Author Bio: Alison Lurie is a farmer of words in the field of creativity. She is an experienced independent content writer with a demonstrated history of working in the writing and editing industry. She is a multi-niche content chef who loves cooking new things.
