If you plan to invest in a business outside your home country, you can confidently pick Australia. It has one of the best and stable economies and is home to many leading brands globally. Australia is a land of many natural resources that support manufacturers in preparing their goods and products. But, of course, there are many challenges that different industries have to encounter every day.
Every country has a different set of rules and laws which a business needs to comply with, and Australia is no different. There are certain steps to follow before they can actually register a company in Australia. So, if you ever intend to start your company and register it in Australia, you should gain awareness about certain things that can make your journey smooth and sound. Before getting a solution, you must understand the few common challenges that Aussies and outside investors and entrepreneurs face while forming or registering a company.
What are some challenges of doing business in Australia?
For non-Australian folks, the business and market culture can be a bit overwhelming at first. The set-up seems pretty relaxed and informal, especially for people from the United States, Europe, and the United Kingdom. People have ambitions and a competitive spirit, but majorly the attitude in Aussies is different from what you see in the Western countries.
The International Finance Corporation and The World Bank have ranked Australia the second most accessible country to start a business. But there is a procedure that each entrepreneur must follow to register a firm successfully. One needs to fill an ASIC Form 201 “Application for Registration as an Australian Company, to attain a registration certificate. Once you receive a certificate, you’ll get your Australian Company Number, without which you cannot operate in the country. Here’s a list of a few other challenges.
- Getting a construction permit that requires you to complete 11 procedures to get the permission.
- Getting your electricity meter by filing an application that nearly takes up to 75 days to get sanctioned
- To register a company in Australia, you need to send a bunch of documents to the authorities at the Municipal Council, water authority, Land and Property Information Department, and Office of State Revenue.
- You have to pay 12% tax and a total number of 11 payments in an annual year to the Australian government.
How to register a company?
After learning about the multiple challenges you will face in the process of registering your company in this glorious market, you must be wondering how to find an easy alternate solution for it. There are legit firms that help register businesses online with their trustworthy and quick service network.
Such companies charge approximately $510 to $570 for the registration of a firm. They would follow the ASIC guidelines and complete the paperwork to get your registration certificate. It takes nearly 15 minutes to half an hour to complete the registration formalities, and you can immediately start trading once you receive a confirmation email.
Instead of doing the entire process yourself, seek help and advice from an expert in Australia who regularly performs the procedures to register an Australian company. You can do a quick check on the internet to find the best company registration firms in Australia and quickly reach out to them with your respective concerns to start a company.