Why Australian Company Formation Can Benefit Your Business
If you have been considering overseas incorporation in Australia, you no doubt want to know how and why Australian company formation can benefit your business. While it is true that more and more foreign-owned companies find a profitable home in Australia each and every day, their success does not guarantee yours. And the different corporate entities in Australia each offer their own unique pluses and privileges. But there are certain benefits that all foreign-owned businesses in Australia enjoy. Let’s take a look at several “bennies” you can access as a foreign business owner in Australia.
Few regulatory stipulations
After the global banking crisis, several programs were put in place to ensure that foreigners would continue to seek corporate ownership in Australia, and bring in overseas dollars. One of the most attractive, and definitely most popular, reasons for Australian incorporation is the very free hand foreign-owned business is given there. By allowing a very loose set of regulatory requirements, Australia guarantees they will always have a steady stream of revenue from abroad. In return the overseas business owner gets hassle-free Aussie business ownership.
The Australian Reserve Bank offers some very low interest rates for many foreign-owned corporate structures, and the Federal Rudd Government helps out as well. When the global banking crisis that we mentioned earlier hit, Australia wasted no time, and the Rudd Govt. enacted an immediate 50 billion dollar incentive program while other countries were just praying for a turnaround. The result is a corporate attitude where businesses owned by foreigners may qualify for cash incentives, as well as get low interest rates on loans.
A positive economic landscape
In a positively unmatchable feat, Australia experienced an amazing 68 consecutive quarters of business growth before the global banking crisis of 2008 hit. That is 17 straight years of economic growth, and even after the 2008 downturn, Australia turned in a positive growth of 1.5% for all of 2009. Because the Rudd Govt. acted so swiftly, Australia outperformed all 34 nations that made up the Organization for Economic Cooperation and Development during that period. That includes such large economies as the U.S., China, the U.K., Germany and Canada. And the economic forecast is still very positive.
If you really want to know why Australian company formation can benefit your business, you need look no further than the three attractive reasons above. With a great economy, government backing for a corporate-friendly atmosphere for foreign business owners, and financial incentives on the banking side, Australia presents one of the best choices for non-native business ownership on the entire globe.