So, I’m ‘carrying out business’. What to do now? If you replied yes to both queries, you need to choose whether to integrate or to register a branch or representative office. For people who aren’t certain of the variations, an incorporated part has its own third party legal status, whilst an office has a regional representative who symbolizes the international company. That agent is individually accountable for the actions of the company within Australia.
There are lots of advantages to this: you no longer need a local director and secretary (as all integrated organizations do in Australia), plus there may be taxation benefits. To register so, you should complete the following steps: 1. Evaluate your name. Like with incorporation, you need to ensure your company’s name can be acquired. ASIC will not allow a name to be registered if it is deceptive (e.g. as to the company’s activities), uses particular words (for instance ‘university’), has already been registered to another company, or is unlawful. 2. Reserve your name. This step is optional, but reservation charges only AU$41 (as of 2011) and safeguards your selected name from that point forward.
Alternatively, you could undergo the procedure, only to find out you have been pipped to the post. You need ASIC Form 410 to complete this step. 3. Fill out ASIC Form 402. This is the Application for Registration. It is the point you must have all the facts present such as the facts of the directors of the company and of the local agent and of the authorized office. It’s not necessary to have your own office, but if not, you must have permission from the owner for you to make use of that address. 4. Set up the necessary documentation. Before you deliver off Form 402, you have to ensure all the necessary documents are provided.
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 concurs with the overseas company happens to be signed up in its place of corporation; A certified 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 fees on company property held in Australia; and An authorized translation of any document not in English. 5. Send the application. Once you’ve finished all the paperwork, submit the application, with 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 Signed up Body Number (ARBN).
Other Requirements and Considerations: There are many features that you ought to think about 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 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.. Free reprint available from: Valid Facts about running a Branch Office Australia.