Buying or setting up a business in Australia

Last blog I was writing about how any visa holder can own a business. I will now follow that up with this post, about buying or setting up a business in Australia. 

Buying or setting up a business in Australia is quite straightforward. It doesn't have anything to do much with Australian migration law. It will be more on commercial law and you need to engage a solicitor or lawyer to act on your behalf.

Buying or setting up a business in Australia doesn't require many documentation from your end. The thing that you really need is "your signature" as majority of the paperwork will be done by the solicitor and accountant.

Setting up your business name registration with ASIC can be done either by yourself, your account or your solicitor. If you set this up either as a "sole trader" or "partnership", personally I would just do that by myself. It probably takes you less than 15 minutes to organize that on the ASIC website. Yeap, the Australian government wants to make things easier for people to set up a business here and create job & boost the economy.

However, if  this is set up as a company or trust, the best way to do it is to leave it to the experts, either your solicitor or your accountant. As the company structure or trust structure can be quite confusing for some (for me as well).

Lots of people wonder what type of documentation they need? Not much really. Just your passport & IDs.