Why Australia Is A Great Place To Set Up A Business!
Why Australia Is A Great Place To Set Up A Business
Australia is a success story, a culturally diverse and free country that boasts a stable financial system, healthy exports, low unemployment, and many opportunities for global investment. These attractive qualities make Australia one of the best destinations for business owners from around the world who want to expand into a friendly, thriving economy that welcomes them!
There are very few barriers to entry for those interested in opening their doors in Australia, and you can create your company business name registration in no time! Let’s examine some of the great advantages doing business down under can give you!
Business Friendly – The laid-back, friendly environment that Australia provides for those interested in doing business in the country is a major draw to companies from all over the globe. The World Bank Guide For Doing Business gave Australia a rank of 7th out of hundreds for ease of starting a business.
A great example of this is the fact that the process for registering a business in Australia only has three simple steps!
- Complete and submit the Australian Securities and Investment Commission Form 201, which goes by the name “Application for Registration as an Australian Company”.
- Obtain a certificate of incorporation and an ACN, (Australian Company Number).
- Register with the Australian Taxation Office for an Australian business ID.
On average, it takes only about three days to complete these steps!
Intellectual Property Protection – These are always of grave concern for businesses interested in expanding into new countries. Australia has some of the world’s strongest IP (intellectual property) protections in place, and they cover a wide range of areas including copyrights, patents, designs, trademarks, and even the rights of plant breeders to keep control of the special varietals they have bred!
These important protections extend to trade secrets and other confidential information with safeguards in place to prevent unauthorised actors from unlawfully claiming your goods or services to be their own.
Australia is also a signatory to the World Trade Organization’s agreement regarding the trade-related aspects of intellectual property rights. The country is also a member of multiple multinational treaties administered by the World Intellectual Property Organization.
Welcoming Environment – The government of Australia maintains a very welcoming environment for international businesses to join in with, making the country one of the world’s most favoured destinations for companies who want to expand internationally.
While a comprehensive regulatory framework is in place, it is very fair and equitable, cementing the nation’s rank as one of the most business-friendly nations in the world.
Australia is revered for its unshakable stability, including its legal system, corporate debt, and banks.
S&P, Moody’s, and Fitch, the top three international credit bureaus, have all granted Australia a “Triple A” credit rating, making it a very low-risk economy for business purposes. The Australian stock market is highly efficient, and the nation’s banking and finance regulations are among the world’s most equitable and well-enforced.
The Australian Trade and Investment Commission’s website contains more information for those interested in setting up a business in Australia. We hope this inspires you to consider bringing your business down under, we are always open!
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