There are various business structures for new Australian businesses, and each one has its own tax considerations. Overall, starting a business is easy, but Americans will need to hire immigration consultants or immigration agents.
How To Choose A Business Structure
There are many common structures that people use when they establish their businesses in Australia. The four basic options are trusts, companies, partnerships, and sole trader.
How To Establish The Company
All Australian companies are distinct legal entities because they are incorporated businesses. Every company must fill out a form at the Investments Commission office and the Australian Securities office.
Acquiring An Australian Company
Acquiring an existing company in Australia is an alternative to starting a new business. Every company in Australia is regulated by the ASIC and Australian Securities. The ASIC has guidance and regulatory documents that relate to company takeovers.
Simple Procedures For Beginners
Select a business structure that suits your brand.
Choose a good company name.
Determine how the company will operate.
Review your legal obligations.
Obtain the consent of anyone else who is involved in your business.
Simple Company Name Advice
The word “Propriety” must be included in the company name. “Proprietary limited” must be at the end of the company name if the employees only have a limited amount of unpaid shares. If the shares are unlimited, the word ”Proprietary” must be at the end of the company name.
Business owners can only use names that are not registered to other company. There are helpful tools online that help businesses confirm if a proposed name is already registered. In addition, certain words can never be used, such as “trust”, “chartered”, “building society”, “chamber of commerce”, and “university”.
Easy Operation Suggestions
Decide how the business will be governed before you register the company. The internal governance could operate under its owns constitution or under replaceable rules. The Corporations Act 2001 has information about the rules for operating under replaceable rules.
An Australian business owner is the director of the company, so every Corporations Act requirement must be followed. An officeholder must understand basic legal obligations, such as managing the company’s important documents, maintaining company records and registers, and paying annual review fees properly.
The Most Successful Australian Industries
The Vitamin Industry
The vitamin industry is worth considering because Swisse Vitamins has grown a lot since 2009. Within a few years, the company has earned nearly $183 million in yearly revenue.
To start a vitamin business in Australia, you will need a business plan, investment capital, and the proper permits and licenses. If you plan to sell smoothies or other consumables, there may be other licensing requirements.
The Steel Manufacturing Industry
Keech Australia is a steel casting manufacturing company that grew by 60 percent within the last three years. Now, the company manufacturers steel castings globally.
To operate a successful steel business, use business plan software to design a quality plan. Then, examine your competition because you should never run your business in an area where competition is strong.
To build your new Australian business, contact the nearest immigration consultants or immigration agents today we recommend Hunt Migration for their streamlined process and dedication to assisting with all types of visas..
Copyright 2012-2017 On Topic Media PTY LTD. ABN 18113479226. mobile version
Subscribe to the Business Boss email newsletter and learn about running a small business. You will find lots of useful tips and articles which will not only save you time and money, but also your sanity.