For all private companies registered in Australia, ASIC (Australian Securities and Investments Commission) requires that at least one local Australian resident be appointed as a director for the company at all times.
The director residency rule can be a major hurdle for overseas businesses wishing to establish a subsidiary or other business presence in Australia. Director Corporate Services (“DCS”) has designed a cost-effective and seamless solution, which in many overseas jurisdictions is referred to as a ‘Nominee Director’. Refer to the Corporations Act, ASIC and the ATO (Australian Taxation Office) for more information on the applicable regulations and requirements.
Due to Australian regulations, a company director is responsible for significant aspects of the business regardless of whether he or she is appointed in a nominee capacity, or as an actual managing director. For this reason, we use the term “Resident Director“ for all directorship appointments that our pool of directors provides.
Appointing a Resident Director can be a complex matter, with so many obligations, questions, regulations and rules to be aware of. DCS provide you with fast access to a pool of directors who have passed our comprehensive credit and background checks.
How to engage an Australian Resident Director Enquiry Form
Step One: Complete and submit our obligation free, online enquiry form
Our senior staff will review your enquiry and will respond to you as soon as possible.
We will request some additional information from you, in order to prepare a quote that will meet your needs.
You may discuss any supplementary corporate services with our staff that you would like further information on. Our suite of additional corporate services includes but is not limited to:
- Company Registration
- Registered Office
- ASIC Registered Agent
- Pre-registered Shelf Companies
- Access granted to our network of local professionals (premium clients only)
Our staff will listen to you and if you request any add-on services, will prepare a package for you that will best suit your needs.
There is no obligation for you, DCS, or any director to proceed with an order at this stage.
Step Two: Receive an initial quotation
Consider your package and our quote and when you are ready to move forward, contact our staff and confirm your order.
Step Three: Accept our initial quotation and pay the appointment fee
Our accounts team will prepare your itemised invoice which will include the director appointment fee and any additional services that you may have selected.
Step Four: Receive, review, execute and return our on-boarding document set
The on-boarding document set contains all of our terms and conditions and will include the Director Appointment and Indemnification Agreement.
We recommend that you seek independent professional advice on any term/s, condition/s and/or requirement/s that are unclear, or of concern to you, before signing any of our documents.
Our on-boarding document set will be provided to you electronically.
Upload identification documents in accordance with our terms and conditions
Step Five: Receive electronic versions of the full, counter-signed, on-boarding document set.
From this point, your ASIC Registered Agent will be required to update the statutory documents (see ASIC info sheet 76) of the company, which are to be filed in the Registered Office. Your Registered Agent will also update the company details with ASIC, usually by filing an electronic ASIC Form 484. If you do not have a Registered Office or ASIC Registered Agent, we can include these services as part of your package and assist you with these obligatory requirements also.
Resident Director Enquiry Form
Benefits of using our Australian Resident Director Service
There are more reasons than we can list as to why you may need a nominee director, however here are some examples:
- Cost-effective solution – for businesses that are expanding into, or starting a new venture in Australia, it is particularly important to keep expenses to a minimum while you establish your brand and grow your client base. Appointing an DCS resident director to your company will greatly help you to keep your overheads low and will ensure you retain effective managerial control of your business.
- Comply with the Australian Corporations Act 2001 – which requires every company incorporated or registered in Australia to have at all times, at least one director who ordinarily resides in Australia. An DCS Nominee Resident Director will keep you compliant at all times in terms of the residency requirement.
- Maintain your personal privacy – clients large and small are often in a position where it is unwise for their name to appear on the corporate registers of a company, especially where such registers are available to be viewed via a basic company search. We can provide you with a Resident Director (formerly known as Nominee Director) who will help to protect your reputation, other business interests, current employment, family & associates.
- Suitable name to represent your business – it may be desirable to keep your own name off the company registers. Perhaps your own name sounds undesirable for the type of business you operate. Maybe your name is similar to that of a famous (or infamous) person, or maybe you simply need a name that sounds Australian.
DCS is dedicated to gaining a thorough understanding of your current company structure and future needs. Our comprehensive understanding of these central aspects of your enterprise, will better enable us to tailor a directorship package that will suit your company and budget, while ensuring always, that you remain compliant with Australian director requirements.