- 1 Post By Team 'W'
Setting up a LTD company
I will be setting up my own business when over in Adelaide. Is it pretty much the same as to setting up a ltd company as in the uk or is totally different?
Any pointers dos and donts would be great or if there is a good book to purchase to help with the ins and outs.
What type of business? Are you starting from scratch?
Whether you should first trade as a sole trader or start a trust or start a proprietary limited company right from the go really depends on what you're going to do, whether you need employees, what your turnover is going to be, and a number of other things.
I'd be seeing an accountant before you get anything established to get advice on how to get going.
To be on the safe side I've used Allan Collett of Go Matilda, an accountants and migration company. More expensive this way but one less headache and he's a trusted and respected person on here so worth the extra money in my opinion.
If you are going limited you need to be a resident in the country, hence again the use of an Australian accountancy firm who will use their address as a short term registered office and the accountant will register as a director of the company until you arrive. He will simply then resign as a director leaving you to enter the country with a company all set up and ready to go.
You need to allow about 2 weeks for all the formalities of a Ltd co and about 3 weeks if you use a Trust structure.