Helping entrepreneurs, small business & multinationals set up, start & expand in Australia.
Achieve your strategic business goals & invest in Australia’s thriving economy with the assistance of Penguin Management.
If you’re a business looking to expand into Australia, there are plenty of complexities, regulations and costs to address.
With a range of business customs and practices, import and export regulations, as well as plenty of unique business protocols, having a local expert to help you navigate through the process of setting up a business in Australia can set you on the path to success.
Australia offers thriving opportunities for businesses looking to tap into a market that offers safe, low-risk investment backed by strong growth opportunities.
Reasons why businesses invest in Australia
It’s fair to say Australia is a popular choice for investment and business expansion for companies and organisations across the globe.
Reasons businesses choose to start a business in Australia include:
- Decades of uninterrupted business growth
- World class innovation and high-quality research institutions
- World’s fastest growing region
- Well regulated commercial environment makes it easy to establish business
- Highly skilled workforce
Due to its convenient location and proximity to some of Asia’s most lucrative and bustling nations, Australia offers plenty of exciting opportunities for companies looking to expand and grow.
With a fast-growing population of over 24 million, a strong investment landscape and some of the highest standards of living in the world, Australia really is the lucky country.
Relishing in superb business opportunities for investors as well as enjoying a stunning natural environment, it offers top education facilities, excellent flight linkages globally and quality cultural infrastructure.
Stable government and a solid legal system make doing business in Australia a safe and incredibly lucrative opportunity for international businesses looking to expand globally.
How can Penguin Management help your business?
Open up a world of possibilities for your business with Penguin Management.
Our experienced Sydney-based team is available to help your company navigate the complexities of setting up a business in Australia.
We work closely with globally based clients to establish complex company structures, taxation regulations, and ensure your financial compliance needs are met to operate in Australia.
As a trusted business advisory and accountancy practice, we offer a wide range of accounting, payroll, HR, virtual CFO and financial services and are dedicated to helping your business be successful in the Australian market.
Our financial services include:
- Company structure planning and registration
- Resident director and public officer support
- Statutory compliance
- Bookkeeping services
- Preparation of annual accounts
- Financial reports to parent company
- Treasury and credit control
- Business systems setup & ongoing development
Our team tailors financial management services to suit your needs and can oversee existing operations for your business and provide guidance and support to help them run more efficiently.
Whether you’re a small business, independent subsidiary or a network of branch offices, Penguin Management specialises in accounting and business advisory services to assist overseas SME’s, non-profits and multinational companies set up and manage operations in Australia.
With over 20 years experience, we are specialists in financial management for international businesses, offering quality and personalised service for business clients across the globe.
Steps for setting up your business in Australia
Thinking of doing business in Australia? We can show you how…
The steps for setting up a business in a new country are unique.
Australia holds a broad range of laws, regulations, requirements and cultural differences businesses should be aware of if they are looking to enter the Australian marketplace.
Here are some basic steps for setting up your business in Australia.
Arrange relevant visas
For non-Australian citizens, visas are required for entering the country and are based on the reason for your business. A visa is essential to work or operate a business.
Thanks to Australia’s passion for free trade, there is a wide range of visas available to encourage business for international business owners and companies looking to expand into the Australian market.
As the first port of call, getting a suitable visa and ensuring you can operate your business in Australia is essential.
Set up your business structure
Business types to choose from in Australia include Sole Trader, Partnership, Trust and Company.
To set up your business, you will need to select one of these business structures to operate in the country.
You may need guidance from a specialist to help you decide which business structure best suits you and it is important to keep in mind your plans and growth goals for the future to ensure you ensure your business structure suits your growth forecasts.
Register your business
Businesses require an Australian Business Number, Tax File Number and a registered business name to operate in Australia.
All of these steps can be done simply and are essential when setting up your business banking accounts.
For international businesses looking to turn over at least $75,000 per annum, GST registration is required in Australia.
The goods and services tax is 10% and is added onto the total price of items or services.
More information can be sourced from the ATO or your financial management professional.
Australian taxation considerations
When operating your business in Australia the following taxes are payable, all based on your business structure:
- Income tax
- PAYG for employees
- Fringe benefits tax
- Fuel tax credits
An accountant or financial management professional with knowledge of Australian business will be able to help advise you on all taxation matters and can guide you through the process to ensure you are paying appropriate taxes to do business in Australia.
Legal obligations and insurance
There are many legal requirements businesses must comply with when operating in Australia including laws based on employing staff, minimum wage standards of pay and workers entitlements.
If you require help working through the laws, it’s important to speak with a financial management professional to ensure you are setting up all of your legal business matters correctly to meet Australian requirements.
In Australia, many businesses require insurance including worker’s compensation, public liability, professional indemnity and/or contents liability insurance.
Benefits of doing business in Australia
If your company is looking to expand operations to the Asia-Pacific region, Australia is a prime location for doing business and offers plenty of exciting strategic growth opportunities to help your company thrive.
An attractive location for foreign investors due to a highly skilled workforce, thriving economy, trusted legal system and stable government make Australia a popular choice for foreign investment and trade globally.
Whether it is the resources sector, agribusiness, higher education, medical research, or retail trade, Australian businesses are keen to collaborate with partners from across the globe to reap the benefits of international collaboration.
Australia’s economic statistics snapshot
|GDP Annual Growth||2.4%|
|Household Wealth||A$8.9 trillion|
|Industry Share of Output||Services 59%,|
Retail trade 5%
|Average Weekly Earnings||$1164|
|Average House Price||$656,800|
Data: ABS / RBA, May 2017
Australia’s Trade Partners
With free trade agreements in place between major trading partners including China, Japan, USA, South Korea, Singapore & the UK, and with data showing unprecedented predicted levels of growth, the future is bright for Australia.
If your business is looking to expand operations to the Asia-Pacific region and focus on new business in Oceania, Australia is a prime location for growth opportunities.
About Penguin Management
Penguin Management specialises in assisting SMEs, Not For Profits, and multinational companies set up, manage or expand business operations in Australia.
We offer a comprehensive management service to clients across the globe working to offer the highest level of business advisory services to help you to successfully set up and start doing business in Australia.
Ready to start your business in Australia?
Want to join the long list of global companies enjoying the lucrative benefits of doing business in Australia?
Start your business in Australia the right way – with trusted financial management and guidance from the professional team at Penguin Management.