| Australia ranks No. 3 among 181 economies for "ease | | | | breakdown of the amounts paid and owed from each |
| of starting a business" according to a summary of a | | | | shareholder must also be indicated. There may be no |
| study entitled, "Doing Business 2009". | | | | minimum amounts required, but it is a practical measure |
| Indeed, it is relatively easy for anyone to set up a new | | | | for you to raise an amount that is sufficient for your |
| company in Australia. Registration can be completed | | | | company's operations. |
| online and in as early as one day. Other business | | | | Once your shareholdings and those of your other |
| requirements such as business name registration and | | | | shareholders are stated in the registration form, the |
| goods and services tax registration may also be | | | | same shall form part of your company's details. Any |
| completed online. | | | | changes therein will have to be reported within |
| Existing corporation laws make it possible to register a | | | | twenty-eight (28) days under pain of penalty. |
| company quickly. Unlike most countries, Australian law | | | | Furthermore, since your liability for your company's |
| does not require a new company to have a | | | | obligations is limited by the value of your shares, you |
| constitution or a set of articles for its incorporation. | | | | will have to keep all information about the status of |
| Corporate seals for Australian companies are also | | | | your shareholdings current. |
| optional now. | | | | Another point to consider is how much capital you |
| In other countries, regulatory agencies usually require | | | | should be able to show to prospective business |
| incorporators of new companies to come up with a | | | | contacts. It is a fact that new clients normally consider |
| minimum amount to support an application for | | | | the shareholder base of a company in assessing its |
| registration. This amount is divided into shares and | | | | stability. Meager capital resources may put your |
| must be verified by means of a bank certificate stating | | | | company at a disadvantage. Other companies also |
| that the minimum paid-up capital is in deposit. | | | | maintain minimum standards when dealing with new |
| In Australia, however, this is not the case. Australian | | | | companies. They may consider capital size as a |
| start-up businesses are not unduly burdened by strict | | | | prerequisite for entering into business contracts with |
| minimum capital requirements. | | | | you. |
| Australian corporation law does not specify how many | | | | Determining just how many shares should be issued |
| shares a proprietary company must have nor how | | | | and how much capital should be infused is a business |
| many shares each shareholder must own or hold in his | | | | decision for you to make. The right value should be an |
| name. The only requirement is for a proprietary | | | | amount that is realistic to your shareholders, sufficient |
| company to have at least one shareholder. | | | | for your operations and acceptable to your clients. |
| In the Form 201 to be submitted to the Australian | | | | This information will vary from country to country so |
| Securities and Investments Commission, the applicant | | | | make sure you research your local regions regulatory |
| for company registration must also include a list of its | | | | body before starting your company. |
| shareholders and their respective shareholdings. A | | | | |