How to open an offshore company in Australia in 2020
Australia is not on the list of classic offshore zones, but it is possible to legally register a foreign company that will subject to tax benefits and simplified government regulation. Offshore company registration in Australia in 2020 will take about 7 days.
Australia's business benefits in 2020
- The country occupies an entire continent, even though it is the smallest in the world. Its small territory has a first-class infrastructure.
- The economy has shown stable growth over the past 20 years, so it attracts investors from around the world.
- Business and financial assets of businessmen in Australia are under state protection, risk of their loss due to criminal or fraudulent actions is minimized.
- Linguistic accessibility, the national language on the mainland is English.
- Convenient geographical location and abundant natural resources.
Which legal form is best suited for an offshore business?
Entrepreneurs seeking to take over the Australian market first need to study it carefully. The areas of finance, high-tech, IT, insurance, agriculture and mining have remained the most demanded in recent years. However, they are already quite busy with "big players", so a businessperson needs to either offer something innovative or enter another industry in order to achieve success and good profits.
The choice of the organizational legal form of the company directly depends on the type of activity.
It is possible to register 4 main business structures in Australia:
- Sole Trader - the analogue of Russian individual entrepreneurs, suitable for small firms with small annual turnover. Sole Trader is fully responsible for the activities of its company, although it is not a fully legal entity;
- A partnership is a classic structure. The number of its founders most often ranges from 2 to 20 people. Partners are unlimitedly responsible for the activities of their company;
- Company. The most common type of business in Australia. There are open and closed ones with different levels of responsibility, which, must necessarily be prescribed in the Charter.
Open an offshore business in Australia in 2020: instructions for action
You can register your company abroad both with the help of qualified specialists and by yourself. Practice shows that entrepreneurs who are initially confident in their own abilities, sooner or later still turn to the local intermediary for help, and eventually even overpay. The support of IT-OFFSHORE specialists will make the process of company registration in Australia quick and smooth, and the possibility to choose an individual service package, will also significantly save finances.
The registration algorithm includes the selection of a unique trade name, filling out of questionnaires and preparation of a package of copies of necessary constituent documents, selection of a local director and registration of a legal address, payment of state duties and opening of a corporate bank account.