It has stable institutions, transparent regulatory systems, a highly skilled labour market, and favourable international reputation.
According to a 2020 World Bank survey, Australia is ranked:
Companies must notify ASIC as to whether they will adopt their own Constitution or use the ‘model rules’ contained in the Corporations Act 2001 (Cth). The model rules can be used if a company does not require any special provisions in their Constitution.
ASIC must also be provided with officeholder and shareholder details.
Australian businesses may be subject to the following taxation obligations:
If an Australian business is wholly, or partially, owned by a foreign entity, it must be approved by the Foreign Investment Review Board (‘FIRB’). This requirement does not apply to individuals.
Common funding options in Australia include:
The Fair Work Act 2009 (Cth) regulates employment law in Australia. This legislation established the Fair Work Commission, which has the power to adjudicate disputes between employers and employees. Employment law disputes can also go before the Federal Courts.
IP Australia reviews and approves trademark and design applications. If copyright exists, it is automatically protected in accordance with the Copyright Act 1968 (Cth). Those that wish to register a patent will need to meet the requirements of the Patent Act 1990 (Cth).
Infringements of IP rights held in Australia are adjudicated by the Federal Courts.
The Australian Consumer Laws govern activities such as refunds, misleading, deceptive, and unconscionable conduct. These laws can hold an employer liable for acts or omissions committed by employees.
The entities that can negotiate or enforce a debt dispute include: