Start a Business in Australia from Overseas
                     Start a Business in 
Australia from 
Overseas
Starting a business is exciting but can also be 
challenging if you are not prepared or are overseas. 
This guide will take you through each step of starting 
your own company in Australia and help make sure that 
all aspects are taken care of before launching into this 
new adventure in Australia!
1. Make key decisions early on to avoid the hassles and 
headache later down the road
Key decisions have an enormous impact on your 
business - these are the ones you want to make early, 
so they do not come back and bite you in the ass later. 
Some key questions include: What licenses do I need? 
How much tax am I going to owe if this goes through, 
anyway? And what paperwork did someone else tell me 
was necessary but turns out not be at all...?
• Decide on a business structure - There are many 
different legal entities you can choose from to run 
your small businesses, but it is important that the 
one chosen suit both yourself and what needs doing. 
It is also wise for an expert opinion before moving 
forward!
• When starting a business in Australia, it is important 
to find out if you are hiring an employee or 
contractor before entering contract negotiations. 
There are many benefits and drawbacks of each type 
that could affect your bottom line so make sure not 
only do they have the appropriate permissions but 
also know their legal status for taxation purposes as 
well!
2. Plan your Business 
Business planning is the process of strategizing about 
your future and seeing how it all comes together. There 
are many aspects to this, but first you need to analyse 
yourself as an entrepreneur so that way can plan for 
what is ahead with clear eyes. Planning out your 
business gives you direction and keeps your business on 
track. You will also need a business plan if you seek 
finance.
• One must also create your risk management plan - 
Having a good risk management plan in place will 
help guide the business decisions you make and 
reduce the impact of unexpected events on your 
business.
3. Get the help you need
Finding a way to stay afloat in business can be tough. 
We have got everything from general advice for 
entrepreneurs and other small-business owners, 
finance options no matter what level they are at - all 
combined with mental health support so your mind 
does not get too bogged down by worries or concerns!
• Know the law - It is no secret that every business, 
whether it be big or small has legal requirements for 
running their company. If you do not protect 
themselves legally then you are exposing yourself to 
risk. An effective way starts off strong in this 
department is by speaking with a qualified 
professional about what you need and how best we 
can go about meeting those goals together
• Know your finances - It is essential to take charge of 
your business and know how you are going make the 
most out it. It could be a matter of life or death for 
some, so do not procrastinate - speak with an expert 
today!
4. Register your business
To make it official, you will need to register. This makes 
sure your business gets taxed at the right rate, avoids 
penalties, and protects your brand and ideas. 
Once you have decided on your legal structure 
(Company, Trust, Sole Trader), you are required to 
register:
• Australian business number (ABN) - An Australian 
business number (ABN) is unique to your business. 
Customers, suppliers, and the Australian Taxation 
Office (ATO) use this number to help identify your 
business. An ABN is free to register.
• Business name - A business name helps your 
customers identify your business from others. If your 
business name is different to your own name, you 
will need to register it.
• Tax registrations for your business - Not all taxes will 
apply to your business so it's important to know 
which taxes will apply before you register or seek 
professional help.
5. Protect your business
You invest too much time and money in your business 
to lose it. Protect your investment by planning. 
• Manage work health and safety - As a business 
owner you are responsible for managing health and 
safety for you and your employees in the workplace.
• Understand business insurance - Insurance can help 
protect your business and your employees against 
the worst of situations. Find out which types of 
insurance are essential for your business and those 
you may want to consider.
6. Prepare for tax
Knowing when various lodgements are due is essential 
to staying on the right side of the ATO. As a starting 
point, we suggest that you put your BAS lodgements 
and Tax Return due dates in, as these are mandatory for 
all businesses. Getting on top of your taxes now can 
make things easier overall. It can help you avoid 
penalties and make sure your business is taxed at the 
correct rate.
• Keep the records right - It's important to keep up 
with your records. A good record keeping system can 
help you get on top of the mountain, but also track 
progress and seek finance if necessary!
• Understand taxation for your business - 
Understanding tax requirements is important for 
making sure your business has the correct paperwork 
and avoids penalties. Get an overview of record 
keeping, registering with the government to file taxes 
as well as paying them when they are due!
• Learn how to lodge and pay for tax - You need to 
know what type of business structure you have and if 
a Business Activity Statement (BAS) is needed.
It's very important to have an experienced advisor 
guide you through the set-up of your business in 
Australia. Specially from overseas, iKeep Bookkeeping is 
well placed with the backing of one of the top 
accounting firm and access to the best legal advisor. If 
you are looking to set up business in Australia speak 
with one of our consultants today!