So, I'm 'carrying out business'. What to do now? If you answered yes to both concerns, you must determine if you should combine or to register a branch or representative office. For people who aren't sure of the differences, an involved part does have its private legal status, whilst an office has a regional representative who symbolizes the international company. That representative is individually liable for the actions of the company within Australia.
So, I’m ‘carrying out business’. What to do now? If you answered yes to both concerns, you must determine if you should combine or to register a branch or representative office. For people who aren’t sure of the differences, an involved part does have its private legal status, whilst an office has a regional representative who symbolizes the international company. That representative is individually liable for the actions of the company within Australia.
There are numerous positive aspects to this: you do not need a local director and secretary (as all involved entities do in Australia), plus there can be taxation benefits. To register so, you must finish these steps: 1. Check your name. As with incorporation, you need to guarantee your company’s name can be obtained. ASIC will not enable a name to be signed up if it is misleading (e.g. as to the company’s activities), uses specific words (such as ‘university’), has already been registered to another company, or is unlawful. 2. Reserve your name. This step is non-compulsory, but reservation costs only AU$41 (as of 2011) and protects your chosen name from there forward.
If you don’t, 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 have to have all the facts present like the details of the directors of the company and of the regional agent and of the authorized office. It’s not essential to have your own private office, but if not, you should have permission from the owner for you to use that address. 4. Put together the essential paperwork. Before you send off Form 402, you have to guarantee all the essential documents are included.
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 verifies the overseas company is currently authorized in its place of corporation; An authorized copy of the company’s constitutions, bylaws or equivalent; If a director is resident in Australia, a memorandum stating the powers of those directors; A notice of any costs on company property held in Australia; and A certified translation of any document not in English. 5. Submit the application. Once you’ve accomplished all the records, 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 Authorized Body Number (ARBN).
Other Requirements and Considerations: There are several matters that you should consider before proceeding in a international 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 overseas 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.