So, I’m ‘carrying out business’. Now what? If you addressed yes to both queries, you must determine if you should integrate or to register a branch or representative office. For those who aren’t sure of the differences, an integrated part does have its separate legal status, whilst an office has a local representative who represents the overseas company. That agent is personally accountable for the actions of the company within Australia.
There are lots of positive aspects to this: you no longer need a regional director and secretary (as all incorporated entities do in Australia), plus there can be taxation benefits. To register so, you should accomplish these steps: 1. Verify your name. Like with incorporation, you have to guarantee your company’s name is available. ASIC will not enable a name to be registered if it is confusing (e.g. as to the company’s activities), uses specific words (for example ‘university’), has already been signed up to another company, or is unlawful. 2. Reserve your name. This step is non-compulsory, but reservation charges only AU$41 (as of 2011) and safeguards your selected name from there forward.
Otherwise, you could move through the process, only to discover you’ve been pipped to the post. You need ASIC Form 410 to finish this step. 3. Complete ASIC Form 402. This is the Application for Registration. This is the point you need to have all the information present such as the facts of the directors of the company and of the local representative and of the authorized office. It’s not needed to have your own office, but if not, you must have consent from the owner for you to make use of that address. 4. Set up the essential records. Before you send off Form 402, you have to ensure all the necessary documents are enclosed.
This is: A memorandum of appointment of, and power of attorney for, the local representative; A certificate of registration or incorporation (or a similar document) that confirms 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 citizen in Australia, a memorandum stating the powers of those directors; A notice of any rates on company property held in Australia; and A certified translation of any document not in English. 5. Send the application. Once you’ve accomplished all the paperwork, submit the application, in addition to the applicable fee (currently AUD$426) to ASIC. They will issue a Certificate of Registration of a International Company and give your company an Australian Authorized Body Number (ARBN).
Other Requirements and Considerations: There are many aspects you need to consider 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 should consider 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.
Inveiss Lawyers are specialized in registering Branch Office Australia. Register with Inveiss Legal today to get the suitable legal service at no extra costs.. This article, Legal Agreements when it comes to Branch Office Australia has free reprint rights.