Main advantages of entering the service market in Australia

Company registration in Australia in 2021 is relevant, because non-residents get the opportunity to ensure confidentiality. It is possible to participate in business projects of the country. You can buy a ready-made company in Australia or start registering a company from scratch. If you have any questions about starting a business, contact our experts at IT-OFFSHORE.

Why start a business in Australia?

Opening a company in Australia is beneficial to entrepreneurs who plan to sell goods not only in their own country but also abroad. The jurisdiction is characterized by a stable policy, and stable economy, and developed infrastructure. Jurisdiction has many agreements on free trade and avoidance of double taxation.

The state is one of the best in the world in quality of life, level of medical care, and education. In addition, the country has a low unemployment rate. The state allocates funds to support innovation and startups. Developing projects are given incentives and grants.

Other benefits include the following:

• Transparent legislation;
• It's easy to attract investment;
• Relatively low level of competition;
• Low crime rate;
• The possibility of obtaining a visa when creating a startup.

Opening a firm in Australia provides an opportunity to ensure the sustainability of business in the long term. The economy tends to grow without recession for several decades. It is not difficult to enter the jurisdiction's market, and there is an opportunity to take advantage of the state's global connections.

One of Australia's most developed sectors has been mining. The subsoil is rich in minerals, and many companies specialize in their extraction, exploration, and processing. It is possible to optimize taxation in the country.

Which direction to take?

More than 70% of the national gross income comes from the service sector. Most of the population's spending, according to statistics, is attributed to services. In this regard, it is profitable to open a financial institution, educational or medical institution, travel agency, etc. in the country.

There are few companies in the country, which produce anything, because it is risky enough to open production. It is not recommended to open a small retail store or cafe, as there is a high probability of rapid closure due to losses. Before opening a business, it is important to pay attention to niche markets, the manufacture of a certain category of goods to order. 

Peculiarities of company registration

According to the laws of the state, you can choose one of the existing forms of business. One popular legal form is a closed company with limited liability. At least one director must be a resident of the state, there are no conditions regarding the presence of a secretary. There can be from 1 to 50 shareholders.

Another legal form is an open joint-stock company. Requires a minimum of 3 directors, 2 of whom must be residents. Secretary is required - a local resident. A number of shareholders can be unlimited. A sole proprietorship is not a legal entity. Liability and obligations are unlimited.

To open a company quickly and register an account with a local bank, contact our experts. We will also help you to reissue all documents for the purchase of a ready-made business.