• Business registration law in Australia is regulated at both a federal and a state level and the legal structure of a business dictates the business registration procedure. A business should always obtain independent legal and tax advice before registering in Australia. Business registration and tax registration are separate procedures. Additionally, foreign investors may need approval from the Australian government to own an interest in an Australian registered business.
  
  

Consider your Business Structure

• Your business structure dictates which registration and tax laws apply to your business and which registration procedures you need to follow in Australia. It is essential to get comprehensive legal advice from an Australian qualified legal adviser before attempting to register your business. In general, a business may be a sole trader business, a company, a partnership or a trust, and different registration rules apply for each. A sole trader is a person trading on their own behalf. A company is a legal entity separate from its shareholders. A partnership is a relationship between two or more parties engaged in business with a view to making a profit. A trust is also a relationship between different parties where one or more of the parties assumes obligations as a trustee on behalf of others.
  
  

Business Registration law in Australia

• In Australia, a company must register its constitution (the equivalent to articles of association), a business name and Australian Company Number (ACN) with the Australian Securities and Investments Commission (ASIC). It must also register its officers' details (for a private company, at least one director must be resident in Australia; for a public company, at least two must be) and details relating to its share capital. A company is regulated by the Corporations Act 2001 (Cth). Some trusts, some partnerships, certain charitable organizations and some not-for-profit businesses also must register with ASIC. If a registered company, trust or partnership trades under a different name to the name registered with ASIC it must register its trading name as well.
  
  A sole trader or unincorporated entity (an entity that has no separate legal status) does not need to register with ASIC, but each state or territory also has its own business registration legislation. Such a business should register a business name with the relevant Australian state or territory to obtain an Australian Business Number (ABN). This does not create a legal entity and is not a requirement if the business is conducted under the name of the sole trader or partners.
  
  

Tax Registrations

• Registered companies, trusts and partnerships also need to register for a Tax File Number (TFN) to file tax returns. A sole trader can use his personal TFN to file tax returns, but a partnership must file a separate tax return. A business must also register for goods and services tax (GST) if annual turnover is more than AU$75,000.
  
  

Foreign Investment in Australia

• A foreign investor will usually need approval from the Australian government to own an interest in an Australian registered business. This depends on the industry and the monetary value of the interest. Direct investment in an existing business may be an alternative to setting up and registering a new business structure in Australia as a free trade agreement between the U.S. and Australia exempts U.S. investors investing below certain monetary thresholds from having to obtain approval.