Nominee Director Service Australia

Nominee Director Service Australia

Tetra Consultants offers Nominee Director Service Australia for our international clients. Our full-service package includes Australia company registration, nominee director services, company secretary, public officer, registered office address and corporate bank account opening.

If you are just about to expand your business into Australia, you may be confused about the terms such as “nominee director” and “resident director”.

To put it simply, a resident director is someone who is either an Australian citizen or a permanent resident. He should also be located in Australia at least 183 calendar days per year.

A nominee director is a qualified individual who is appointed as your Australian company’s resident director. This individual will only be appointed in name and will not have any authority in your company. His main duties will include communicating with government authorities and banks, as well as ensuring that your company timely files annual returns and financial statements.

Regardless of the above, Australia Securities & Investments Commission (ASIC) states that as long as an individual is appointed as a company director, he or she will be responsible for the company’s corporate governance.

As such, finding a suitable candidate to take up the position of nominee director in Australia is time-consuming and challenging, especially if both parties are unsure of each other. This may result in delays during the Australia company registration process.

Tetra Consultants serves to bridge this gap by providing cost-effective resident director service Australia, ensuring that all our clients can fulfil the Australia minimum officeholder requirements.

What is the resident director requirement in Australia?

• According to the Australia Corporations Act 2001, all private companies or limited liability companies (LLC) registered in Australia are required by Australia Securities & Investments Commission (ASIC) to appoint a resident director in Australia. This is to ensure that every company has a point of contact in Australia.
• The Australia nominee director should be at least 18 years of age and must ordinarily reside in Australia.

How Tetra Consultants provide resident director service Australia?

• It is important to appoint a nominee director that has experience in corporate governance and annual reporting/filing. Our compliance team has done enhanced due diligence on the nominees, who are either our in-house employees or long-term partners. They are mostly professionals in the field of accounting or tax or law.
• Once engaged for resident director service Australia, Tetra Consultants will provide you with the KYC documents of the Australian nominee director, including his passport copy, proof of address, non-criminal records, and CV.
• Tetra Consultants’ legal team will also draft a nominee director agreement and statutory declaration to be signed by all parties. This is to ensure that the company is 100% under your management and that you are indemnified as well. Unless requested specifically, our nominee director service Australia does not include playing an active role in your business nor acting as a bank signatory.
• After settlement of the nominee director fee, Tetra Consultants will proceed to register the Australia company and appoint the Australian nominee director with the Australia Companies Register.
• The nominee director in Australia will not have access to your corporate bank account. This is to ensure that you can conduct business, without worrying about your funds being mishandled.
• If required, Tetra Consultant’s nominee director in Australia can also be appointed as the Public Officer (PO).

Advantages of using Nominee Director Service in Australia

• As it is mandatory to appoint an Australian resident director when incorporating an Australian company, this may result in foreign investors incurring additional costs during the business set up process. By appointing a nominee director, your business will be able to save overhead expenses while remaining compliant with the regulatory obligations.
• During corporate bank account opening in Australia, most Australian banks will require a local representative to visit the bank for identity verification purposes. Our nominee director will assist with this task, at no additional costs.
• If you prefer not to have your name appear on the Australia Companies Register, signing up for nominee director service Australia may be an optimum solution or you to maintain personal privacy.
• Tetra Consultants is able to provide the full suite of services for your Australian company to remain compliant.
• Our Chartered Accountant will be able to communicate directly with the nominee director for annual government tax reporting with Australian Taxation Office (ATO), minimizing communication breakdown or inconvenience for you.

What is required of you?

By being appointed as a resident director, our nominee will ultimately have to face litigation and fiduciary risks. As such, Tetra Consultants’ compliance team will require some input for our KYC checks. Some of these documents and information include:

• Identity documents of the Ultimate Beneficial Owners (UBOs) and non-resident directors.
• Documents of the parent company (in the event a corporate shareholder is appointed)
• Nature of intended business activity
• Whether this Australia company is a dormant or active company

Contact us to find out more about Australia nominee director services. Our team of experts will revert within the next 24 hours.

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