Good governance and management are crucial components to any business success. At Australian Corporate Governance, we provide you with the support you need to achieve your business goals in Australia.
Our Services Include
Resident Directors
Company Secretary
Corporate Secretarial and Administrative Support
Resident Directors
The director residency rule can be a major hurdle for overseas businesses wishing to establish a subsidiary or other business presence in Australia. ACG provides a cost-effective and seamless solution to meet this requirement for our clients through the appointment of a Resident or ‘Nominee’ Director.
Due to Australian regulations, a Company Director is responsible for significant aspects of the business, regardless of whether he or she is appointed in a nominee capacity, or as an actual Managing Director. Resident Directors provided by ACG perform the duties that are ordinarily required to be performed by a Director under the Corporations Act, including:
- Sign documents for filing with local regulatory authorities such as ASIC and ATO
- Act as the point of contact for regulatory authorities and financial institutions
- Act as the authorised representative of the company in Australia
A Resident Director is not expected to be actively involved in the day-to-day commercial operations of the local company beyond the extent necessary to discharge their legal responsibilities. These include:
- Acting in good faith in the best interests of the company and for a proper purpose
- Exercising care and diligence
- Avoiding conflicts between the interests of the company and the Director’s personal interests
- Preventing the company from trading while insolvent
You can be assured that an ACG appointed Resident Director will always act in your best interests. A Resident Director’s legal obligations include:
- Acting in good faith in the best interests of the company and for a proper purpose
- Exercising care and diligence
- Avoiding conflicts between the interests of the company and the Director’s personal interests
- Preventing the company from trading while insolvent
All our Resident Directors have a wealth of experience in C-suite positions in a range of industries including defence, health, sport, finance, construction and education.
Company Secretary Service
ACG also provides you with the dedicated services of a Company Secretary to manage the local legal and regulatory requirements for corporate compliance. Tax and accounting services and appropriate Director’s insurance arrangements will also be managed.
Corporate Secretarial and Administrative Support
ACG assists the Resident Directors and our Clients by providing administrative support and the generation and completion of required reports, returns and documentation. This support includes:
- Organising and conducting board and shareholder meetings
- Preparing and lodging official forms with State and Commonwealth authorities
- Maintaining statutory registers
- Managing all correspondence and communication with authorities such as the ATO and ASIC
Why Does My Business Need Support?
Conducting business in a new country has numerous challenges. Australia is a highly regulated market and you need someone on the ground who is familiar with the professional and bureaucratic landscape. A representative in Australia that you can trust to act in your best interests is priceless. ACG fulfils not only the legal requirements by appointing an Australian-based Resident Director but also provides administrative services through the appointment of a Company Secretary and Corporate Secretarial and Administrative Support staff.
The Australian Corporations Law stipulates that companies incorporated in Australia must have at least one director residing in Australia. The Australian Corporations Law imposes significant obligations and responsibilities on a Company Director. As a director, you are responsible for managing the affairs of your company. You must comply with your legal obligations as a director under the Australian Corporations Act 2001, even if you appoint an agent to look after your company’s affairs.
Company structures available to foreign-owned companies are:
- Proprietary Companies (Pty. Ltd.) – A proprietary company is not required to have a company secretary. If it does, they must reside in Australia. A proprietary company must have at least one director. That director must reside in Australia. If the company has crowd-sourced funded shareholders, it must have at least two directors. A majority of these directors must live in Australia.
- Public Companies (Ltd.) – A public company must have at least one company secretary who must reside in Australia. A public company must have a minimum of three directors (not including alternate directors). At least two of three directors must reside in Australia.
If a company does not have sufficient officers, it will be in breach of the Corporations Act 2001. This may result in the company being prosecuted for not fulfilling its obligations.
Get In Touch Today
At Australian Corporate Governance, we have extensive experience working with a wide variety of clients from various countries and circumstances. Our specialist advisory and consulting team take the time to develop a complete corporate solution, tailored to support your business's needs. To find out more about how we can help contact the team on +61 (0)7 3181 4305 or email us at enquiries@austcogov.com.
