Australia company set up applications are lodged through the Australian Securities & Investments Commission (ASIC). Official fees amount to AUD$400. The process is quick, with ASIC normally issuing a Certificate of Incorporation on the same day the application is received.

Following Australia company set up, it is not normally necessary for a company to obtain a business license. Approval must be gained from the Foreign Investment Review Board before entrepreneurs can conduct real estate brokerage, banking, shipping or media services.

Following Australia company set up, company details are available for public viewing on the ASIC online public register. Available information include shareholders and directors' names and addresses.

Most entrepreneurs use a corporate services firm to handle all Australia company set up formalities. This firm will legally incorporate your company and act as the Australia-resident director, company secretary and registered office, assist your firm fulfill your statutory legal obligations in Australia and apply for employment visas for foreign staff. Procedures typically evolve with i) company name reservation with ASIC ii) submission of shareholders and directors’ due diligence and corporate documents to ASIC including Memorandum and Articles of Association and a Statutory Declaration of Compliance and  Registered Office details.

An Australian private limited company must prepare annual financial statements complying with Australian financial accounting standards. The financial statements accompany an annual corporate tax return submitted to the Australian Taxation Office (ATO) based on the Australian financial year of July 1 to June 30. Because of the complexity of Australian accounting and tax laws, it will be necessary to engage the professional services of qualified accountants and tax advisors.