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Registering a business in Oz


Chocolate
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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 foreign

commissions.

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?

Thanks

Chocolate

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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 Number

You 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.aspx

Should answer most of your questions.

Regards

Enrica

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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....

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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.

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Thanks for all your replies, we will investigate it further.

Although it does seem like we need to live there first.

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