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Company formation in Australia
Comprehensive assistance in company formation, including banking services
How to form a company in Australia
1
Document submission
You submit to us necessary documents of the future founders and directors for the purposes of company formation in Australia and opening a bank account in Australia
2
Payment of services
Payment of our services for company formation in Australia and/or bank account assistance in Australia
3
Company formation
We register a new company in Australia for you. Upon completion of the registraion corporate documents are either delivered to you or submitted to a bank for the subsequent opening of a bank account
4
Bank account opening
In case you request an assistance with a bank account, we arrange an interview at the bank for you, inform you about the date of the visit and accompany you on your way to the bank. After the bank account is opened and active you receive corporate documents of the formed company as well as the access to the bank account
Key aspects to consider prior to incorporating a company in Australia
A limited liability company in Australia can be incorporated with a share capital of just AUD 2.
1. Founders that would like to register a company in Australia can either be resident or non-resident in Australia. Founders can be either individuals or legal entities.
2. A resident or a non-resident individual can be a company director in Australia. However, it is required to register a company in Australia with at least 1 resident director.
3. One individual can register a company in Australia and simultaneously be a shareholder and a director in this company if such company is registered as a Pty Ltd (a limited liability company).
4. There is no requirement for creating substance in Australia - no need to hire local employees or rent an office in order to register a company in Australia or to conduct business in Australia.
5. Minimum share capital that is required to register a company in Australia as a Pty Ltd (a limited liability company) is AUD 2.
6. Information about company founders, shareholders and directors after company registration in Australia is complete is publicly available in the state corporate register.
7. We can help you register a company in Australia remotely, on the basis of a power of attorney. It is necessary for the director of the new company to travel to Sydney for 1 day in order to open a corporate bank account.
2. A resident or a non-resident individual can be a company director in Australia. However, it is required to register a company in Australia with at least 1 resident director.
3. One individual can register a company in Australia and simultaneously be a shareholder and a director in this company if such company is registered as a Pty Ltd (a limited liability company).
4. There is no requirement for creating substance in Australia - no need to hire local employees or rent an office in order to register a company in Australia or to conduct business in Australia.
5. Minimum share capital that is required to register a company in Australia as a Pty Ltd (a limited liability company) is AUD 2.
6. Information about company founders, shareholders and directors after company registration in Australia is complete is publicly available in the state corporate register.
7. We can help you register a company in Australia remotely, on the basis of a power of attorney. It is necessary for the director of the new company to travel to Sydney for 1 day in order to open a corporate bank account.
Cost of services
Formation of a Pty Ltd
Timeframe - 3 business days
Timeframe - 3 business days
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Advantages of incorporating a company in Australia
Attractive business-environment
- Multiple active free trade agreements: CPTPP, AANZFTA, CER
- Location of Australia allows to establish maritime trade with any region in the world
- Access to markets in Asia, South, Central and North America
- Ample natural resources
- Diverse consumer market
- Well-developed infrastructure
- Low inflation rate
Stability and security
- Political stability
- Secure legal and justice systems
- Comprehensive protection of property rights
- Comprehensive personal security
- Investment protection
Tax benefits
- R&D tax incentives
- Multiple double tax treaties
No foreign exchange controls
- Australia state regulations do not impose foreign exchange controls. Individuals and business entities, either resident or non-resident in Australia may open bank accounts in local banks in any currency
Ease of establishing and doing business
- No minimum share capital requirement to register a company in Australia as a limited liability company
- Remote company formation in Australia is available for any foreign individuals
- 100% foreign ownership of a company is available
More about Australia
Australia is located in the southwestern Pacific Ocean and consists of the mainland of the Australian continent, the island of Tasmania and a number of smaller islands. Australia has a territory of 7,617,930 square kilometers. Australia borders New Zealand and has access to the Great Australian Bight, to the Tasman Sea, to the Coral Sea, to the Timor Sea, to the Arafura Sea, as well as to the Pacific Ocean, to the Indian Ocean and to the Southern Ocean. The capital city of Australia is Canberrra, the location of key government institutions.
Population of Australia amounts to around 26 million people.
Population of Australia amounts to around 26 million people.
Official currency of Australia is Australian dollar (AUD).
Australia has a high-income mixed-market economy and has ample natural resources. Economy of Australia is intertwined with East and Southeast Asia states. Australia is a major exporter of agricultural products, minerals and energy.
In terms of foreign trade, the largest sector contributing to the country's export are liquified natural gas, coal, iron ore, gold, slag, ash, copper ore, aluminium, meat, wheat and wool.
Imports of Australia consist of energy, petroleum, oil, electrical machinery and equipment, cars and vehicles, transmission apparatus, electric conductors, consumer goods, medicaments, organic chemicals, chemical products.
Primary trading partners of Australia are New Zealand, USA, Japan, China, South Korea, the United Kingdom, Hong Kong, Singapore, Indonesia, Thailand, Malaysia, Germany.
The GDP of Australia grew by 3.7% in 2021 and amounted to USD 1.7 trillion. Tertiary sector makes up 66% of the GDP of the country, followed by industry sector at 25% and agriculture at 2%.
Australia has a high-income mixed-market economy and has ample natural resources. Economy of Australia is intertwined with East and Southeast Asia states. Australia is a major exporter of agricultural products, minerals and energy.
In terms of foreign trade, the largest sector contributing to the country's export are liquified natural gas, coal, iron ore, gold, slag, ash, copper ore, aluminium, meat, wheat and wool.
Imports of Australia consist of energy, petroleum, oil, electrical machinery and equipment, cars and vehicles, transmission apparatus, electric conductors, consumer goods, medicaments, organic chemicals, chemical products.
Primary trading partners of Australia are New Zealand, USA, Japan, China, South Korea, the United Kingdom, Hong Kong, Singapore, Indonesia, Thailand, Malaysia, Germany.
The GDP of Australia grew by 3.7% in 2021 and amounted to USD 1.7 trillion. Tertiary sector makes up 66% of the GDP of the country, followed by industry sector at 25% and agriculture at 2%.
International business expands to Australia and incorporates a company in Australia primarily for energy sector, advanced manufacturing, space industry, digital technologies, agribusiness, food, health and infrastructure.
Restricted for foreign entrepreneurs are the following sectors:
Restricted for foreign entrepreneurs are the following sectors:
- national defense
- air transport
- telecommunications
- operational activity of airports and seaports
- postal services.
- Corporate income tax - Standard tax rate 30%, if annual turnover does not exceed AUD 50 million, tax rate is 25%. Tax returns are filed on an annual basis. Advance income tax payments are made on a quarterly basis
- Dividend withholding tax - Franked dividends tax rate 0%, unfranked dividends tax rate 30%
- Interest withholding tax - 10%
- Royalties withholding tax - 30%
- Capital gains tax - 30%
- GST - Standard tax rate 10% or the reduced rate or tax exempt. Tax returns are filed on a monthly, a quarterly or an annual basis
- Personal income tax - from 0% up to 45%.
Apart from such traditional business entity types as a proprietary company limited by shares (Pty Ltd) and a public company, corporate law in Australia offers to incorporate a company in Australia as:
1. Unlimited public company
2. Unlimited proprietary company
3. General partnership
4. Limited partnership
5. Branch office
To receive a detailed description of the company formation procedure in Australia and information about documents necessary for company formation in Australia please contact our experts.
1. Unlimited public company
2. Unlimited proprietary company
3. General partnership
4. Limited partnership
5. Branch office
To receive a detailed description of the company formation procedure in Australia and information about documents necessary for company formation in Australia please contact our experts.
Send a request for company formation in Australia
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London, EC1V 2NX
Phone: +44 20 8157 4037
Email: request@pil-services.com
128 City Road,
London, EC1V 2NX
Phone: +44 20 8157 4037
Email: request@pil-services.com
