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Starting a company in Oz

Starting a company in Oz

Old Feb 21st 2009, 12:21 am
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Default Starting a company in Oz

Hi all,
Can any one answer the following?
I am in Sydney as a de-facto on my partners 457 (My 175 Non MODL / CSL was lodged in Nov 2008). I am currently working in IT on fixed term contract but am looking to set up my own Pty Ltd for some freelance work and a web based company.

Can anyone advise if there are restrictions to me doing this?, I have heard that to start a Ltd company you need an Australian resident to be a director?

Also going forward would this open another potential visa option to us?, i.e are there visas available specifically for business owners.... we are not holding our breath on the 175 visa considering all the changes recently.

Thanks
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Old Feb 21st 2009, 5:51 am
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Default Re: Starting a company in Oz

AT least one director and one company secretary must be Australian residents. (Most companies only have one secretary but it is quite permissable to have more).

The registered office must also be in Australia.

I set up companies in Australia and the UK as a business, if you want more help, pm me.
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Old Feb 21st 2009, 11:50 pm
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Default Re: Starting a company in Oz

Originally Posted by leemg78
Hi all,
Can any one answer the following?
I am in Sydney as a de-facto on my partners 457 (My 175 Non MODL / CSL was lodged in Nov 2008). I am currently working in IT on fixed term contract but am looking to set up my own Pty Ltd for some freelance work and a web based company.

Can anyone advise if there are restrictions to me doing this?, I have heard that to start a Ltd company you need an Australian resident to be a director?

Also going forward would this open another potential visa option to us?, i.e are there visas available specifically for business owners.... we are not holding our breath on the 175 visa considering all the changes recently.

Thanks
I set up a Company on a 457 without an issue.

From the ASIC web site:

A proprietary company must have at least one director, but need not have a secretary. The director and secretary (if any), must ordinarily reside in Australia.

Residing in Australia and being a permanent resident are 2 entirely different things. On a 457 or as a de-facto spouse of a 457, you are considered as a resident for tax purposes and other such matters.

Andrew
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Old Feb 22nd 2009, 12:34 am
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Default Re: Starting a company in Oz

Thanks for the response guys, I am going to have a chat with an accountant in the week to clarify exactly what my options are.

Andrew - it's good to know that someone else has managed it without issue

Thanks again

Lee
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Old Feb 22nd 2009, 9:30 am
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Default Re: Starting a company in Oz

Originally Posted by SunshineGirl
AT least one director and one company secretary must be Australian residents. (Most companies only have one secretary but it is quite permissable to have more).

The registered office must also be in Australia.

I set up companies in Australia and the UK as a business, if you want more help, pm me.
Happy to be corrected, but so far as I know a Pty Limited does not require a Company Secretary ...

Best regards.
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Old Feb 22nd 2009, 9:33 am
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Default Re: Starting a company in Oz

PS. Lee, speaking as a CA (UK and Australia - Go Matilda Accounting and Tax) and a migration agent (Go Matilda Visas) please feel able to telephone me during this coming week if you would like to discuss business issues and visa strategies - Melbourne 03 9935 2929.
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Old Feb 28th 2009, 11:34 pm
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Default Re: Starting a company in Oz

Hi Alan,

Apologies for the delay in responding I have been away for a few days this week, if the offer is still open I would really appreciate the opportunity for a chat

Thanks

Lee
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Old Feb 28th 2009, 11:44 pm
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Default Re: Starting a company in Oz

Originally Posted by Alan Collett
Happy to be corrected, but so far as I know a Pty Limited does not require a Company Secretary ...

Best regards.

Alan, you're quite correct, a Pty Ltd company does not need one but if it chooses to have one, they must be ordinarily resident.
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Old Mar 1st 2009, 12:25 am
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Default Re: Starting a company in Oz

Originally Posted by leemg78
Hi Alan,

Apologies for the delay in responding I have been away for a few days this week, if the offer is still open I would really appreciate the opportunity for a chat

Thanks

Lee
Absolutely - I'll send you a PM, Lee.

Best regards.
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Old Mar 1st 2009, 6:47 am
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Default Re: Starting a company in Oz

Have a read of this page for general information:

Your company and the law
http://www.asic.gov.au/asic/asic.nsf...w?openDocument
 

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