Hopkins Corporate Solutions >> Foreign Companies registered in Australia

Foreign Companies registered in Australia

Trading in Australia

Foreign companies can be registered under Australia’s Corporations Act 2001 (CA) allowing them to carry on a business in Australia. Without such registration, they must not trade in Australia.

Registration requirements

Apart from providing corporate details (directors details, registered office in place of origin, etc.) and appropriately certified copies of certain documents (certificate of registration, constitution/memorandum and articles of associations/by-laws, etc.), in order to register in Australia, a foreign company must appoint a local agent and have an Australian registered office address.

Local Agent

A Local Agent of a foreign company is an appointment under the CA and, in many respects, has duties and responsibilities similar to the CA requirements of a company secretary, other than the signing of agreements and other corporate documents. Amongst other things, the local agent is responsible for all documents lodged with the Australian Securities and Investments Commission (ASIC) and can sign on behalf of the company any forms to be lodged with ASIC.

A Local Agent can be either a person aged 18 years or over who resides in Australia or an Australian company.

Compliance and Financial Reporting

Foreign companies must notify ASIC of any changes to its details (directors, addresses, etc.) within 1 month of the change.

Generally speaking, foreign companies must also lodge a financial report with ASIC each calendar year. That financial report must consist of:

(a) a balance sheet;
(b) a profit and loss account;
(c) a cash flow statement; and
(d) any other documents (if any) that the company is required to lodge in its place of origin.

Exceptions to this financial reporting requirement apply to most New Zealand registered companies and some foreign companies to which certain ASIC class orders apply.

Local Agent services

To assist companies to meet the above requirements, Hopkins Corporate Solutions provides the services of a local agent and registered office address and can also assist foreign companies with their registration in Australia and their compliance with the requirements of the CA and associated legislation.