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company formation in australia

company formation in australia

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company formation in australia

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  1. In recent decades, Australia has become an internationally competitive, developed market economy. It’s abundant and diverse natural resources has attracted high levels of foreign investment, prompting the further development of the country’s service sector and growth of its highly educated, multilingual and multicultural workforce. As one of the most robust economies in the world that is backed by a stable political system and business friendly company laws Australia is trusted destination for trade and investment. With the amount of foreign investment in Australia, proprietary companies are often the company type utilized in Australian company formation. With minimal company formation requirements, a proprietary company allows multinational companies and individuals to conduct business in Australia with large amounts of flexibility. Benefits of Company Formation in Australia Access to Australian government grants for SME businesses Ability to utilize Australian corporate tax rates Australian company law is modern, flexible and commercially minded Australian companies permits 100% foreign ownership Minimum company formation requirements Australia Company Formation Requirements Given Australia’s recognized business environment, the company formation in australia Australian company formation process is efficient with minimal requirements. For proprietary companies, which are among the most common company types, only 1 shareholder and 1 director are required. Although the company director must ordinarily reside in Australia, there are no requirements for Australian companies to have a company secretary. To the extent that an Australian companies have company secretaries, at least one of them must ordinarily reside in Australia. Despite not having any minimum capital requirements, Australia company law requires Australian companies to maintain a registered office in Australia. This address does not have to be owned or leased by the company, but the party who owns or leases that property must consent to the address being the registered office of the company.

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