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Setting up a subsidiary

 

If you are a company and you are considering starting operating in Australia, you are required by law to either set up a local subsidiary (incorporate an Australian company) or register as a foreign company and set up a Branch Office.

If a branch structure is preferred, you must first register with ASIC (Australian Securities & Investment Commission) and then appoint a local agent. Thereafter, you are required to file your accounts annually with ASIC. Your company remains liable for all debts and other contracted obligations of the branch.

On the other hand, a subsidiary is a separate legal entity that you own, with it’s own management, costs, profits and losses.

These require a lot of financial investment, but can be used to make a big impact on the market. By setting up an office you are able to offer a full range of products and services. It also gives you complete control over your products, services and brand.

Before making a decision about starting a branch office or subsidiary, as well as the best ways to do these it is important to gain professional advice. Send your questions to us in an online enquiry or contact us on +61 2 9223 9166 or 1300 QUINNS.