Company formation in Australia
Proprietary limited (Pty Ltd)
Legal minimum, year 1£2,475
Legal minimum, per year after£1,165
Typical year 1£5,825
Corporation tax30%Ease Banking
Every fee
Setting up
Government fee£310
About A$611 ASICAustralian-resident director£900 to 2,600
RequiredNominee service
Registered office£100 to 300
Required
Formation agent£0 to 400
Optional
Share capitalA$1
Time to form1 to 2 days
Running it, per year
ASIC annual review£165
RequiredAbout A$321
Australian-resident director£900 to 2,600
Required
Registered office£100 to 300
Required
Accountant£0 to 2,500
Practically needed
Legal minimum after year 1£1,165
Audit: Exempt for small proprietary companiesForeign ownersAt least one Australian-resident directorRemote, but resident director required
Tax25% for base-rate entities, 30% otherwiseDividend withholding: 30% unfranked, 0% frankedVAT/GST: 10% GST
BankingBig four banks usually need the resident director present
Questions
- How much does it cost to set up a company in Australia?
- The legal minimum for the first year is £2,475, counting only what the law requires and doing every filing yourself. A typical first year, with an accountant, costs about £5,825. The government fee is £310 (About A$611 ASIC). Share capital is not included.
- How much does it cost per year to run a company in Australia?
- The legal minimum after the first year is £1,165 a year. Running costs including optional and practically needed services range from £1,165 to 5,565. Audit: Exempt for small proprietary companies.
- Do I need a local director in Australia?
- Yes. At least one Australian-resident director.
- Can a non-resident form a company in Australia remotely?
- Yes. Remote, but resident director required.
- What is the corporation tax rate in Australia?
- 25% for base-rate entities, 30% otherwise. Dividend withholding: 30% unfranked, 0% franked. VAT/GST: 10% GST.
- How long does it take to form a company in Australia?
- 1 to 2 days.
Elsewhere in Asia-Pacific
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