When setting up a business in Australia one of the requirements is to nominate a resident director, also known as a nominee director.
Your Australian company will need –
- One nominee director/resident director who must ordinarily reside in Australia for a proprietary company (with ‘Pty’ in its name).
- Three directors for a public company (with shareholders), with at least two resident directors, who must ordinarily reside in Australia. For example, two directors can be permanent residents and the third can be a non-citizen.
For global companies setting up business in Australia it may be difficult to find a suitable or eligible nominee director. Abdera offers resident director services, where you can nominate one of our qualified partners as your company’s nominee director.
Our resident director services provide an experienced director to fulfil this position on behalf of your company and ensures your business is compliant with all tax and legal obligations, allowing you to focus on your business’ strategy and growth (we can add value here too!).
What our resident director services includes –
Abdera’s resident director service includes all the compliance activities that are required to be performed by a local director –
- Incorporation of your Australian entity, including Australian Tax office setup and ASIC regulatory requirements, If required for new business set ups.
- The ongoing management of and signing of documents for on time lodgement with regulatory authorities.
- Liaising with and being the contact person for regulatory authorities and financial institutions.
- Acting as the shareholders representative to ensure appropriate compliance procedures are held.
The appointed Abdera resident director will only oversee compliance, ensuring all regulatory requirements have been administered and reporting to head office. They do not run the Australian entity, only oversee compliance and bring any issues to your attention.
Additional accounting services can be provided by Abdera if needed. For new businesses setting up in Australia we offer fast and efficient company incorporation, registered office set up, bank account set up, company secretarial service.
For ongoing support, our outsourced accounting services include managing the day-to-day outsourced accounting, preparation and submission of accounting and reporting systems with regulatory authorities and global head office operations, as well as payroll services.
Why choose Abdera for resident director services?
- Competitive monthly charge
Depending on the risk and the role you require from our resident director services, our monthly fee will vary. We are happy to provide a quote for the resident director service specific to your needs.
We provide a comprehensive resident director agreement setting out the services to be provided, details of the arrangement to provide your business with the necessary legal protection.
- Experience in managing the needs of international business
We understand the responsible role of engaging a resident director, it is not a role that should be taken lightly. Our partners have over 20 years’ experience acting as resident directors for the Australian subsidiaries for international companies from the US, Singapore, China, United Kingdom, and New Zealand.
- Can be for any time frame
You are free to engage us as resident directors in the short-term until you find the right person to represent your business. Alternatively, we can provide long-term nominee director services, so you know your business is always compliant. Whatever your business needs to be ready to do business in Australia.
- Resident director services customised to fit your business
What role do you want the resident director to play? From ensuring all compliance and legal requirements are met to overseeing your Australian operations – it’s all about your business.
We will need a few things from you as your resident director –
- Your business plan (if available) or an outline of your company’s activities in Australia.
- Your compliance with related Australian regulations applicable to your business and industry. Local licensing requirements such as TGA approvals for medical equipment, financial services licenses, food licenses etc, as well as relevant tax, consumer, and importation laws.
- Your agreement to indemnify the resident director for any liabilities the company is not able to meet in Australia.
Don’t let finding a suitable resident director prevent you from setting up business in Australia – our solution gets your business into business!
For more information, read our Resident Director FAQ’s
The Abdera team is ready to help you. Call our office on +61 2 8916 6259 or contact us here.