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Australia has a population of 22 million people and a GNI (Gross National Income) per capita of 43,740.00$. If you decide to start a business in Australia here is what you should know:
1. Where to address to register your company?
You have 2 alternatives:
- register through a number of business service providers who use software that deals directly with Application for Registration as an Australian Company (ASIC). These providers can be found searching the internet for ‘shelf company services’ or ‘Australian company registration’.
- complete the Application for registration as an Australian company (Form 201) yourself following the guidelines on the back of the application and mail it together with the fee (409 USD) to:
Australian Securities and Investments Commission
PO Box 4000
Gippsland Mail Centre VIC 3841
PO Box 4000
Gippsland Mail Centre VIC 3841
2. How many days until the business can be operational?
On average you must wait 2 calendar days before you can legally start operating your business.
3. How many procedures are necessary to start a business?
Only 2 procedures (yes it’s that simple!)
- Complete and lodge ASIC Form 201 “Application for Registration as an Australian Company"; Obtain a certificate of incorporation and an Australian company number (ACN)
- Register for ABN with the Australian Taxation Office (ATO) (no charge)
If your company’s projected annual turnover is AUD$75,000 or more, you must register for Goods and Services Tax (GST) by obtaining an 11-digit Australian Business Number (ABN). The annual company turnover represents its gross business income (not its profit). Companies with lower annual turnover may also choose to register for the Goods and Services Tax. An application for an ABN can be submitted electronically at the Business Entry Point, www.abr.business.gov.au.
To sum up, if you want to start a business in Australia you must wait 2 days, follow 2 procedures and spend around 409$.
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