If you want to run, or operate a Business from within Australia, then you are required to have a company director who resides in Australia. It’s less of a challenge if you actually have an office, employees and perhaps even reside in Australia yourself, however if, like many business owners, you are looking to expand your company and would like a presence in Australia then you probably need to be looking at Resident Company Director Survives, here’s how it works;
It makes sense, but not easy to pull off remotely
The business world is changing rapidly, as you are no doubt aware, and with it means that companies are looking for new and innovative ways to expand their reach. Making use of a virtual office space is something that has become second nature to a lot of business owners. The beauty being, that you can have a postal address and, even a place to meet clients, or business associates in the country in which you would like to operate your ‘expanded base of operations’.
Sounds easy enough?
On paper, it may sound easy enough, but there are certain laws and legislations that you must abide by, one of which being the employment of a resident director in Australia, so, you must either live in Australia and take on the role yourself, or employ somebody on your behalf. It’s super important, though, that you speak with the correct people when it comes to the law, legislations and, making sure that your business is set up in the best possible way.
Part of the government requirements are that you have an Australian based Resident Director, a Company Secretary, and a Resident Public Officer, but you don’t just want any old person fulfilling these roles, do you? Nobody needs to tell you how crucial these roles are, as part of any business, let alone a business hoping to operate in the proper manner, in a foreign country, that they aren’t residents of.
How on earth would you set up all the necessary employment meetings and make the most suitable employment decisions, including managing the whole process from your own country, or base of operations? That’s where you could really make an impact, and drive your business forward in the most efficient way, you simply employ somebody to manage these things for you, but you’d want to make sure that they can offer the following, at the very least;
This appointee will provide services that are required to be performed by a local director, including:
Signing documents for filing with regulatory authorities (e.g. ASIC, TGA and ATO), acting as the shareholder’s representative to ensure compliance, liaising with regulatory authorities and financial institutions.
Resident Company Secretary
In charge of a wide range of corporate governance and compliance services, such as:
Board of Directors, committee, and shareholder meetings are all organised and controlled properly. Formal document creation and submission handling, maintaining up-to-date statutory records, and providing comprehensive governance and compliance guidance.
Resident Public Officer
Acting as a liaison with the Australian Taxation Office (ATO) in the following areas: Managing all correspondence and communications, acting as the company’s authorised representative, signing formal returns to be filed with the ATO.