How to Start a Company in Australia

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Boasting a strong economy, Australia provides ample opportunities for those looking to start a new business. However, starting a company there is a long process which involves a large amount of paperwork. Fortunately, the Australian government provides great resources for those starting a company, taking many of the headaches out of the process.

Instructions

1. Organize the appropriate business visa. There are many different types of visas available. The type of visa you need depends on whether you are a current business owner, an investor, an executive or if you have obtained sponsorship from a state government in Australia. Research each option carefully and secure your visa before you attempt to enter the country for business purposes. See Resources.

2. Organize your finances. If you don't have enough cash saved up to start your business, you will need to apply for a business loan. There are three main types of loans available in Australia: Overdraft, Line of Credit and Fully-Drawn Advance. Each has its pros and cons depending on your financial strategy. Make sure you do your research and compare a number of loans types before deciding on one. The business.gov.au website provides a free Business Loan Finder to help you find the best option.

3. Choose and register your company name. The name should accurately reflect your business and must be unique from other names currently registered in Australia. Use Australia's National Names Index to check if your name is available. .

4. Apply for all applicable tax and business registration numbers. In Australia, you must have the following to operate a company: an Australian Business Number; a Tax File Number, a GST (Goods and Services Tax) registration number and a Pay-As-You-Go (PAYG) withholding number, if you pay wages to employees in your company. .

5. Arrange any applicable permits and licenses. Depending on the type of business, there are many permits you many have to put in place before you can trade legally, such as a liquor license, security license or child care license. Contact the Business Licence Information Service in your state or territory to find out which licenses you must obtain for your company.

References

• business.gov.au: Starting a business

Resources

• business.gov.au: How can I find a business loan?
• ASIC: How to register a company
• business.gov.au: What do I need to register for?
• business.gov.au: Business Licence Information Service in your state or territory
• Dept. of Immigration and Citizenship: Visas, Immigration and Refugees