Business in Australia: the advantages and nuances
Australia is a country with a resilient economy, skilled workers, and a welcoming, tolerant culture. Doing business here will give you an access to the Asia-Pacific market and an opportunity to work in a multicultural area. However, an entrepreneur will have to get some permissions and to learn more about local laws, including consumer protection and intellectual property.
In this article, you can read about the advantages of doing business in Australia and about some requirements you should meet.
A visa for entrepreneurs
First, you should to get a business visa Australia to do you business legally and to avoid numerous fines.
There are several types of business visas in this country. First ones are temporary and permanent business visas. The temporary permission allows you to stay in Australia for 4 to 5 years. You can use it as a first step to become a permanent resident.
The permanent permission gives you the right to stay in the country indefinitely, also you will get some extra benefits. You can count on Medicare, Centrelink benefits and you can sponsor the members of your family. With this visa you can buy property and to get the citizenship.
The cost of business registration
For sole traders and partnerships, costs will be minimal, about AUD 50 to get an Australian Business Number and the business name registration. If you want to set up a proprietary company, you will face more substantial payments, between AUD 500 and AUD 1 500. It depends on your business and on legal services. Public companies have higher costs including regular fees up to up to AUD 3 000.
How to register business in Australia: the instruction
On this site https://sydneyvisas.com/visa/skilled-migration-visas/ you can read about visas you may need to migrate to Australia for working and doing business. And here you will get a guide that will help you to start a business:
- Choose an optimal business structure. You can consider several structures like Sole Trader, Partnership, or Proprietary Limited Company. The latter is especially popular because it limits your personal liability, so you can do business with minimal risks.
- Register the business name. After picking up a structure, register your business name. You can do it online with the help of Australian Securities and Investments Commission. Remember that your business name should be unique and meet ASIC’s criteria.
- Get an ABN. It’s a unique business number that is essential for tax. Using ABN, you will register for Goods and Services Tax and can pay other taxes on a legal basis. The registration is available online.
- Open an account in a bank. You will need a specific business account for your finances. It lets you to track expenses and keep clear records.
- Make sure you meet the official requirements. Depending on the industry you chose, you may need some specific permissions and licenses. You should be informed of employment, tax, and consumer rights legislation.
If your papers are ready, most applications can be done on the Internet in about 20 minutes. In many cases, business registration is ready within four weeks.
Thus, doing business in Australia allows you to develop your company and to contribute to the national economy. Some companies can count on the government support, besides, getting a business visa will improve your chances to become and Australian citizen.
The article is provided by https://sydneyvisas.com/