Business in Australia is available to investors in other countries, the government is friendly to those who want and can participate in the development of the Australian economy. Entrepreneurs from Russia especially love this country.
In Melbourne and Sydney there are entire neighborhoods with exclusively Russian companies. There are several reasons to open or buy a business in Australia and permanently stay in this country. But the main one is the isolation, stability and reliability of the Australian economy.
Benefits of Business Immigration to Australia
Almost everything the country needs is produced by local enterprises and companies, from the manufacture of essential goods to the development of natural resources, which are then sold abroad.
A well-functioning and positively taxed business system is operating here and there is practically no inflation. It should be noted and the absence of corruption, which surprises many entrepreneurs who are considering how to open a business in Australia. Since this country has a lot of land and natural resources, and there are much fewer entrepreneurial residents, the immigration laws work perfectly and harmoniously.
Australia attracts investors from Southeast Asia, China and South Korea. Russian businessmen often open business here together with Thais. True, these are mainly restaurants and cafes. In addition to the traditionally emigrant occupation - opening restaurants - Russian businessmen are engaged in the sale and supply of meat of exotic animals such as kangaroos, for example.
How to open your own business in Australia
Own business in Australia can be established in several ways: buy a ready-made company or open your own. Both options are worth considering, since they are perfectly tuned both in terms of the experience of other businessmen and in terms of law. Australian business is divided into small, medium and large slightly different than ours.
For example, a small enterprise is called an enterprise in which the staff does not exceed 50 people, and the authorized capital is in the range of five million dollars. That is why many open a small business format. If you believe the statistics, then with proper organization, companies begin to bring a steady income two to three years after opening. The registration process is quite simple, and the amount of starting investments does not exceed one hundred thousand Australian dollars.
How to acquire an existing business
Buy a ready-made business in Australia is not difficult. For this, there is no need to become a resident or even obtain a temporary residence permit. In this country there are many entrepreneurs who manage their business remotely. In this case, entrepreneurs get an annual business visa to Australia, and they fly to the country only in very important cases. The company is managed by local managers.
Buying a business in Australia is possible only with the approval of the transaction in the Treasury of that country. The entrepreneur receives property rights after signing the contract of sale. The final decision regarding the possibility of buying a business is made by the Foreign Investment Supervisory Board. Acquiring an existing business will cost more than opening your own enterprise, as it is customary to use an added cost of 30% or more of the value of the business when purchasing.
Starting your own business
In order to open your own business in Australia, you must first include the constituent documents, documents for a registered office and registration forms to the Australian Investment and Share Commission. An office space is a mandatory requirement during registration, as well as the presence of a local agent representing your interests in this country.
In addition, you must pre-reserve and check the admissibility of the name of your future enterprise in this state. The process of registering a new business lasts a maximum of two weeks, if all the documents are prepared.
Possible business options
You can open your own business in Australia in different statuses:
- As an individual entrepreneur.
- In partnership, the organization of a limited and unlimited liability company.
- Creation of a trust.
- Establishment of a joint venture.
Most often, foreign companies operate under the name of a subsidiary registered in Australia or from a subsidiary established here. In the financial reporting of company affairs, small enterprises receive preferential terms. If we talk about the Australian tax system adopted for business, then taxes must be paid on all income, regardless of which country they are received from. If a certain part of the tax is paid abroad, the taxpayer has the right to rely on some exemptions. It should be noted that Australia has a fine for not paying taxes, not a prison.
Business immigration
Business immigration to Australia allows a foreign entrepreneur to enter this country an unlimited number of times. If you have certain skills, know the language and have business experience, then you can very well choose the most suitable category of visas. If not, you can try to get permission for unlimited entry under the professional immigration program.
Business Visa Requirements
There are special requirements for each category of business immigration visas. But basically you can count on getting a permanent visa for a period of four years, and then, when you reach a certain business level, you can get a permanent residence permit. For high-level immigrants whose investments are sponsored by the state or territorial government, a business immigration category is available that gives the right to obtain a residence permit in Australia on an ongoing basis.
Business Visa Categories
For business owners and co-owners, the category "Business Owner" is provided. For executives in major companies and senior employees, the category "Senior Manager" is available. Senior executives and business owners must adhere to certain obligations, which will be checked upon the arrival of applicants in Australia. Investors and those wishing to invest in the country's economy receive a visa of the Investors category.
Please note that applicants who wish to come to Australia in one of the above categories may be funded by the Australian state and ask for more lenient entry requirements for business purposes. Business people of the highest level, sponsored by the state or the territorial Australian government, receive a visa category "Business Talent", which gives the right to permanent residence in the country.
In general, we can summarize: Australia is an attractive country for organizing its own business. Nevertheless, before investing in starting a business abroad, you need to have some experience in creating and running your own business.