So, I'm 'carrying out business'. Now what? If you addressed yes to both concerns, you need to make a decision whether to combine or to register a branch or representative office. For those who aren't certain of the differences, an incorporated subsidiary has its own private legal status, whilst an office has a local agent who represents the foreign company. That representative is individually accountable for the actions of the company within Australia.
There are numerous positive aspects to this: you no longer need a local director and secretary (as all integrated agencies do in Australia), plus there can be taxation benefits. To register so, you have to complete these steps: 1. Verify your name. As with incorporation, you need to ensure your company's name can be acquired. ASIC will not allow a name to be authorized if it is misleading (e.g. as to the company's activities), uses specific words (for example 'university'), is already signed up to a different company, or is unlawful. 2. Reserve your name. This step is non-compulsory, but reservation charges only AU$41 (as of 2011) and protects your selected name from there forward.
Alternatively, you could move through the procedure, only to discover you have been pipped to the post. You need ASIC Form 410 to complete this step. 3. Fill out ASIC Form 402. It is the Application for Registration. This is the point you should have all the facts present such as the details of the directors of the company and of the regional representative and of the signed up office. It's not essential to have your own private office, but if not, you have to have approval from the owner for you to use that address. 4. Put together the necessary paperwork. Before you send off Form 402, you have to ensure all the mandatory documents are provided.
This is: A memorandum of appointment of, and power of attorney for, the regional agent; A certificate of registration or incorporation (or a similar document) that confirms the overseas company happens to be signed up in its place of corporation; An authorized copy of the company's constitutions, bylaws or similar; If a director is resident in Australia, a memorandum stating the powers of those directors; A notice of any fees on company property held in Australia; and An authorized translation of any document not in English. 5. Send the application. Once you've accomplished all the documents, send the application, with the applicable fee (currently AUD$426) to ASIC. They will issue a Certificate of Registration of a Overseas Company and give your company an Australian Signed up Body Number (ARBN).
Other Requirements and Considerations: There are several features that you should think about before proceeding in a foreign country: Have you chosen the correct market entry mode? Have you considered risk mitigation issues? What is your exit strategy? We also emphasise that you ought to take into account registering all intellectual property rights or assets owned by your business before engaging in trade in the international market. If you are planning an international business expansion or to engage in international trade, do you have a realistic budget to achieve your international business goals? To obtain further information on international business development strategies, please view our business planning and business consulting services in our Inveiss Business website.
There are numerous positive aspects to this: you no longer need a local director and secretary (as all integrated agencies do in Australia), plus there can be taxation benefits. To register so, you have to complete these steps: 1. Verify your name. As with incorporation, you need to ensure your company's name can be acquired. ASIC will not allow a name to be authorized if it is misleading (e.g. as to the company's activities), uses specific words (for example 'university'), is already signed up to a different company, or is unlawful. 2. Reserve your name. This step is non-compulsory, but reservation charges only AU$41 (as of 2011) and protects your selected name from there forward.
Alternatively, you could move through the procedure, only to discover you have been pipped to the post. You need ASIC Form 410 to complete this step. 3. Fill out ASIC Form 402. It is the Application for Registration. This is the point you should have all the facts present such as the details of the directors of the company and of the regional representative and of the signed up office. It's not essential to have your own private office, but if not, you have to have approval from the owner for you to use that address. 4. Put together the necessary paperwork. Before you send off Form 402, you have to ensure all the mandatory documents are provided.
This is: A memorandum of appointment of, and power of attorney for, the regional agent; A certificate of registration or incorporation (or a similar document) that confirms the overseas company happens to be signed up in its place of corporation; An authorized copy of the company's constitutions, bylaws or similar; If a director is resident in Australia, a memorandum stating the powers of those directors; A notice of any fees on company property held in Australia; and An authorized translation of any document not in English. 5. Send the application. Once you've accomplished all the documents, send the application, with the applicable fee (currently AUD$426) to ASIC. They will issue a Certificate of Registration of a Overseas Company and give your company an Australian Signed up Body Number (ARBN).
Other Requirements and Considerations: There are several features that you should think about before proceeding in a foreign country: Have you chosen the correct market entry mode? Have you considered risk mitigation issues? What is your exit strategy? We also emphasise that you ought to take into account registering all intellectual property rights or assets owned by your business before engaging in trade in the international market. If you are planning an international business expansion or to engage in international trade, do you have a realistic budget to achieve your international business goals? To obtain further information on international business development strategies, please view our business planning and business consulting services in our Inveiss Business website.
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Register your Branch Office Australia at no extra costs with Inveiss Legal. Visit our website to learn more how our lawyers can assist you in the process.
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