Chocolate Posted February 15, 2011 Report Share Posted February 15, 2011 Hi All,I hope someone out there can advise us on this.We have PR and hope to move to Sydney early 2012.We currently have a business here in SA, earning foreigncommissions. Would it be possible to:1. Register a business in Oz while still in SA?2. Then open a business bank account in Oz?3. Move money (commissions owing) from Europe to this new business bank account?Are there any requirements/tax laws to be aware of?ThanksChocolate Link to comment Share on other sites More sharing options...
Enrica Posted February 15, 2011 Report Share Posted February 15, 2011 You can register a business name in the state you intent on settling in. You needs to decide if it is going to be a company or sole trade or partnership.If you are going to register a company , your need to register via ASIC ( Australian Securities Commission)- You need an ABN NumberYou cannot open a business bank account without an ABN Number. ( Australian Business Number) - which has to be do via the Tax Office.To have an ABN the business must have a TFN ( Tax File Number) , must be done via the ATO(Tax Office). To get a tax file number you must be in the country.If you have an ABN - you are liable for tax.http://www.business.gov.au/BusinessTopics/Registrationandlicences/Registeryourbusinessorcompany/Pages/Registeryourcompany.aspxShould answer most of your questions.RegardsEnrica Link to comment Share on other sites More sharing options...
Oryx Posted February 15, 2011 Report Share Posted February 15, 2011 My understanding is that you can register a business in Australia as long as one of the directors are in Australia.I once investigated this. See here for detail..... This link takes you to a website where you can do it online. And there is no need for ID docs etc....I found this a bit strange but they confiremd it is not necessary. Hopefully this link sheds some more light.... Link to comment Share on other sites More sharing options...
pkn Posted February 15, 2011 Report Share Posted February 15, 2011 you may want to consult a tax expert, as you may be liable for double taxation. the source of foreign commission income is your business in South Africa. Link to comment Share on other sites More sharing options...
Chocolate Posted February 16, 2011 Author Report Share Posted February 16, 2011 Thanks for all your replies, we will investigate it further.Although it does seem like we need to live there first. Link to comment Share on other sites More sharing options...
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