For any foreign company looking to establish an Australian resident subsidiary company, it is a regulatory requirement to appoint at least one director who is an Australian resident. XO Accounting provide this service to some of its international clients.

Establishing a business offshore is difficult enough and the geographical distance of Australia can add to the stress. XO Accounting are here to support you and your business by providing you with the guidance needed to ensure you get it right the first time.

How can XO Accounting Help to establish our business in Australia?

If you haven’t already established your business in Australia our Corporate Compliance services can assist with

  • Recommend the appropriate legal structure
  • Establish the agreed structure including where necessary incorporation of an Australian Company and establishment of trusts(s).
  • All your registration requirements with the Australian Tax Office (ATO) based on your business needs.
  • Establish Australian Bank Accounts with the pre-requisite signatories.
  • Register the Australian operation to have a substituted tax year-end in line with head office operations if required.
  • Apply to Australian Securities and Investment Commission to be exempt from the annual audit requirement for foreign owned companies.

How can XO Accounting Help to establish our business in Australia?

XO can assist with the implementation of financial control sand systems to manage the business affairs of the Australian operations in line with the reporting requirements of your head office operations through our various packages:

Business Accounting and Tax Compliance – Xcellerator Package (Compulsory)

Is a package for the accounting and tax management of your business which will also provide you with 24/7 access to the business accounts online.

Bookkeeping – Xact Package

Is a package for the daily processing of your business financial records including Accounts Receivable, Accounts Payable and Payroll.

Reporting – Xpress Package

Is a package to provide monthly reporting to head office in a format as required.

Virtual CFO – Xpand Package

Is our consulting service in regards to the strategic management of your business in Australia.

Are there any conditions that must be satisfied before XO Accounting will agree to act?

The simple answer is yes.  Acting as a Director in Australia is to assume many obligations, some have a financial risk whilst others may be the risk of criminal prosecution.

  • Proof of your identity and proof of address (utility bill/bank statement not older than 3 months) of the beneficial owner. Scan copy to start the process but we will require certified original copies by post within 2 weeks.
  • If incorporate proof of incorporation and details of officer and shareholders of incorporated entity.
  • A Letter of Reference from your bank, employer, accountant OR solicitor who has known you for over 2 years.
  • We will need to know reasons for requiring a Nominee Director
  • We will need to know the nature of the business
  • The Australian Company must agree to use our Accounting and Tax services through our Xcellerator Package.
  • The company’s registered office will be our registered office.
  • Appropriate Insurance coverage shall be taken out (Or proof of coverage is in place) such as
    • Directors and Officers Insurance
    • Workers Compensation Insurance as mandated in each state or territory of Australia
    • Other business insurance as required by the nature of the business

How much does our Nominee Director Program cost?

Standard Company *      $825 per month (Inc GST)

Non Standard **              POA

*   Business with a turnover less than $5M and minimal operational business risk

** Business with a turnover greater than $5M and operational business risk that is higher than normal

Want to know more?

Get in touch

AUSTRALIA OFFICES:
Adelaide | Brisbane | Melbourne | Melton | Perth | Shepparton | Sydney | Weribee
NEW ZEALAND OFFICES:
Auckland | Pukekohe
1 800 106 141