Hi there. It is possible to start a business in Australia as an Australian citizen, a permanent resident or the holder of an Australian business visa. There are 2 business visas that may apply to your situation: the Business Innovation and Investment (Provisional) visa (subclass 188), and the Business Talent (Permanent) visa (subclass 132).

Most foreign national business owners start on the Provisional Business Innovation and Investment visa (subclass 188) and then, after 4 years, apply for permanent residence under the Business Innovation and Investment (Permanent) visa (subclass 888). You can apply for a provisional visa (subclass 188) by submitting an expression of interest through the Department of Immigration and Border Protection (www.border.gov.au).

Alternatively, you may be eligible for the Permanent Business Talent visa (subclass 132). This visa is for applicants who (a) own or partly own an overseas business, have net business and personal assets of at least $1.5 million AUD, and an annual business turnover of at least $3 million AUD, or (b) have at least $1 million AUD in venture capital funding in Australia to develop a high-value business.

You can read more about these visas by entering their names and subclass numbers into the search bar on the Department of Immigration and Border Protection online portal (www.border.gov.au).

For a step-by-step guide on how to start a corporation in Australia, see the Australian Securities & Investments Commission website (www.asic.gov.au). At the registration stage, it is best to engage a solicitor, accountant or company formation agent to complete the registration. While it is possible to lodge all the required documentation yourself with ASIC, there can be penalties for individuals who lodge documents containing inaccurate or misleading information.

A company and its directors and officers must observe the many legal obligations contained in the Corporations Act 2001 (Cth) plus associated rules and regulations. This Act regulates the formation of a company, its operation and administration, and the responsibilities of the directors and officers. The ASIC website has more detailed info on this topic (www.asic.gov.au).

The requirements for setting up a corporation, and complying with Australia’s corporate laws are broad and complex topics. For this reason, the information here is a guide only and should not be used as a substitute for professional legal advice.

Suggested way forward

If you have further questions about setting up a business in Australia and complying with local laws, try contacting ASIC on 1300 300 630 (or +61 3 5177 3988 from outside Australia) or submit an online enquiry. You may also want to speak to a professional lawyer with experience in immigration and business to provide detailed advice, prepare your legal documents and guide you through the process. By pressing the “Consult a Lawyer” button, LawAdvisor can help you search for experienced lawyers and obtain fee proposals for their services. Costs for legal advice and representation will vary between providers based on experience and the scope of services.