Establishing your business
In 2013, the World Bank ranked Australia as second in the world for the ease of starting a business. Brisbane Marketing is the primary source for assistance in moving a business to Brisbane to access the Australian market.
Registering a business
Registering a business in Australia is simple and can be done either by an organisation itself or through a specialist service provider. The Australian Securities and Investment Commission is Australia’s corporate, markets and financial services regulator and carries out most of the work under the Australian Corporations Act 2001. The registration of a business can usually be completed within a day, with tax registrations normally processed within a week.
Legal entities and structuring
In Australia, a business can be structured in a variety of ways, including as a limited liability company, a branch, a joint venture or a unit trust. Discretionary trusts, partnerships and limited partnerships can also be used. A limited liability company can take different forms, but the most usual is a limited liability company that issues shares. A foreign corporation may establish a representative office in Australia, which may promote the products or services of a foreign enterprise in the Australian market and refer enquiries from potential customers to the foreign enterprise.
Branch versus subsidiary
Generally, foreign companies tend to prefer to establish as a subsidiary rather than a branch for a number of reasons, including: the ability to contract with third parties using a local entity; its limited liability; and its greater ease of an operating structure. Branches are sometimes used (although rarely). However, if you were establishing offices/employees in Brisbane, then the branch would effectively be taxed as if it was a subsidiary.
For further information about establishing your business in Brisbane, contact Brisbane Marketing. The following links can also provide advice on setting up a business: