Doing Business in Australia for Foreign Enterprises
Australia is an ideal destination for foreign enterprises seeking to start a business, connect with established enterprises, or expand further into the Asian-Pacific market. The country’s affluent and well-regulated corporate and financial market is ideal for those venturing into the business landscape within the Oceania region.
Regarded as one of the world’s easiest countries to establish a business, it boasts numerous government incentives for various industries, a diverse and well-educated talent pool, and close proximity to leading and robust markets in Asia-Pacific.
Company Incorporation in Australia
Australian corporate laws require entrepreneurs who are planning to invest and establish a business in the country to register as a Registered Foreign Company with the Australian Securities and Investment Commission (ASIC).
Foreign investors can choose among the four business entity types available:
- Private Limited Liability Company (Pty Ltd)
- Branch Office
- Representative Office
- Shelf Company
Depending on your business needs, choosing the right business structure that fully caters to your operations can help increase your chances of securing a successful business venture in Australia.
Corporate Taxation and Government Incentives in Australia
When setting up a business in Australia, it is best to consider the tax rules and regulations surrounding your business. Tax obligations vary depending on your company’s type of business entity, the number of employees, and the fringe benefits offered to your employees.
There are several types of taxation in Australia that are generally applied to all establishments in the country. These taxes are administered federally by the Australian Taxation Office (ATO) and state-based taxes. Below are the following tax types:
- Income tax for business
- Capital gains tax (CGT)
- Fringe benefits tax (FBT)
- Pay-as-you-go (PAYG) withholding
- PAYG installments
- Goods and services tax (GST)
- Fuel tax credits
- Wine equalization tax
- Luxury car tax
- Payroll tax
- Land tax
Moreover, the full company tax rate for businesses in Australia is 30%. However, you can significantly reduce your taxes through tax deductions by claiming business expenses during your tax returns. ATO and the Australian government also provide numerous tax incentives, such as the R&D Tax Incentive, to investors doing business in the country.
What We Offer
From business registration, secretarial and corporate compliance, taxation and government incentives, and general business compliance, our large pool of in-country specialists can assist and guide you with your next business venture in Australia.
InCorp, along with our in-country partner, can provide you with the following services to help your business grow:
- Company Registration
- Foreign Corporation Licensing
- Tax Registration
- Director ID Application
- Appointment of Nominee Directors
- Bank Account Opening
- Appointment of a Resident Agent
- Business Permits Registrations
- Substituted Accounting Period Application
Easily Set Up Your Next Business Venture in Australia
With a full suite of corporate solutions and in-country specialists, InCorp can help you achieve an easy and hassle-free company incorporation process while helping you increase your chances of securing a successful business venture in the Asia-Pacific region.