Australia

Ease of Doing Business Rank: 15

Overview

Geographic location

The commonwealth of Australia is a sovereign country comprised of the Australian continent, the island of Tasmania and numerous smaller islands. It is in Oceania between the Indian Ocean and the South Pacific Ocean.

Neighboring countries include Indonesia, East Timor, and Papua New Guinea to the north, the Solomon Islands, Vanuatu and the French dependency of New Caledonia to the east, and New Zealand to the southeast.

Spoken language

English is the de facto language of Australia and spoken by 73% of the population. The next most common languages are Mandarin, Arabic, Cantonese, Vietnamese, Italian, and various Indigenous tongues.

Population

The 2019 population estimate for Australia is approximately 25.41 million. Almost 80% of the country’s population resides in the south-eastern part of the country and almost all residents live on the coast. The largest urban centers are Sydney, Melbourne, and Brisbane.

Popular industries

The top ten industries in Australia are health and education, finance, mining, construction, manufacturing, agriculture, public administration, utilities, professional, scientific, and technical services, and transport, postal and warehousing.

Education

US News ranked Australia 6th globally in 2019, unchanged from the previous year.

World University rankings awarded the University of Melbourne third in the class of best universities in the Asia-Pacific region in 2019. Australia also has eight universities in the global top 100.

Popular entity types

The most common business entities in Australia are Sole Trader, Proprietary Limited Company, Partnership, and Trust.

Proprietary limited companies are the most common company structure in the country and the one usually most suitable for foreign investors.

Australian incentives for business 

Australia offers many tax incentives for foreign-owned businesses, including Foreign Income Tax Offsets to avoid double taxation. 

Australia also has considerable incentives for capital investments in oil and gas, venture capital, innovative projects, the film industry, mineral exploration, and offshore banking. They also offer substantial incentives for R&D. 

History & Features 

 

Main business areas 

Australia has many major business centers including Adelaide, Brisbane, Canberra, Darwin, Gold Coast, Hobart, Melbourne, Perth, and Sydney. 

According to the 2019 Global Financial Centres Index, Sydney is the top financial center in the country followed by Melbourne. 

Popular historical & tourist attractions 

Australia is a vast and diverse country with plenty to offer. Popular tourist attractions include the iconic shell-shaped Sydney Opera House on Bennelong Point and the Sydney Harbour Bridge. 

However, Australia is also known for the outstanding natural beauty of the Great Barrier Reef, the largest living structure on the planet. Venture further inland and you’ll find Uluru (formerly Ayers Rock), a stunning 348 meter high red rock monolith. Fabulous beaches, countless national parks, unique native animals, and 8,222 islands are available to explore too. 

Australia also has 19 UNESCO World Heritage Sites, including cultural, natural, and mixed sites. These include the 11 penal sites built by the British government for prisoners. 

History 

Australia’s Aboriginal may have arrived on the continent over 50,000 years ago. However, the first European explorers didn’t sail the coast until the 17th centuryCaptain James Cook claimed the continent for Britain in 1770 and established a penal colony. 

The first prisoners arrived in 1788 and free settlers arrived in the early 1790sBy the 1820s, many soldiers, officers and emancipated convicts started successful farms. News traveled quickly, and many more British migrants arrived. 

In 1851, the discovery of gold lured thousands, including many Chinese prospectors. Unrest due to imposed mining licenses finally led to a bill that allowed any digger with a miner’s license to stand for elected office, which some historians consider the start of Australian democracy. 

Australia officially became a nation under a single constitution in 1901. Both World Wars had a significant impact on the country. However, when WWII ended hundreds of thousands of migrants from across Europe and the Middle East arrived in Australia and the economy boomed. 

Over the following decades, the country underwent massive economic reforms, including deregulating the banking system and floating the Australian dollar. Today, Australia has a thriving mixed-market economy with an estimated GDP of over $1.69 trillion AUD. 

Other relevant facts 

According to the Australian Bureau of Statistics, over half of all Australians are Christian, but many other religious affiliations exist in the country. These include Islam, Buddhism, Sikhism, Judaism, and more. 

Most residents of Australia are of English decent, followed by other European ethnicities such as IrishItalian, and German. A fairly significant Chinese and Aboriginal representation and lesser numbers of IndianGreek, Dutch and other ethnicities also exist. 

Additional Information for Business 

According to Forbes’ 2019 Best Countries for BusinessAustralia ranks 9th globally due to its free trade agreement (FTA) with Chinathe Republic of Korea, Japan, Chile, Malaysia, New Zealand, Singapore, Thailand, and the US, and a regional FTA with ASEAN and New Zealand. 

The 2019 Index of Economic Freedom rates Australia number 5 globally and states, Australia’s robust free-market democracy has benefited from an effective system of government that facilitates vibrant entrepreneurial development. With almost all industries open to foreign competition and a skilled workforce readily available, Australia remains an attractive and dynamic destination for investment. 

Australia Entity Support Services by Blueback Global

Blueback Global provides a one-stop integrated solution to managing all aspects of your global operations. We can take the burden off you or your company’s internal resources by managing Entity Setup, Local Payroll, Accounting, Tax Reporting, HR Admin and Regulatory Compliance matters associated with operating in a foreign country. Our services are designed to be flexible and customized, so whether you are starting from entity registration, or have already registered but need support in setting payroll or hire employees, we can help at every point of the process.

The common scenarios that may give rise to the need for Blueback Global’s services include the following:

  • Your business is expanding and you need a registered presence in Australia
  • You need to hire employees in the local country, and you do not want to hire the candidates as a consultant or as a contractor due to the risks
  • The candidates you intend to hire need to have employee status in order to enroll in local social security programs
  • You do not have resources to manage multiple vendors ranging from legal, HR, accountants, tax CPAs to immigration experts, all of which are typically involved in managing a foreign operation
  • You are looking for a cost-effective solution to manage your foreign entity
  • You want to avoid risks of non-compliance with local regulations
  • You want to ensure that your employees in the foreign location is well taken care of in terms of timely and accurate payroll, access to HR resources and other matters related to labor regulations

With our integrated approach, you can expect the following experience:

We have an initial complimentary meeting to discuss the scope, objectives and plans for your expansion plan into Australia. After this meeting, you can expect a follow-up proposal from Blueback Global within 1 to 3 business days, that outlines that the approach, scope of work and expected deliverables and outcome. Thereafter, our implementation team will then work closely with your team to register the local entity, set up payroll, accounting process, employee social security and benefits. We will then develop a mutually agreed timeline and approach for ongoing payroll, accounting, tax reporting and HR support. Blueback Global will set up a compliance calendar so that you know exactly what and when compliance items such as tax reporting and payroll returns are due. We will of course facilitate all of these, so you do not have to keep track of the compliance dates.

Our goal is to make the process as smooth, simple and successful as possible, and remove the anxiety of operating in a foreign location, to deliver a great customer experience.

Other countries

Check out some other countries we serve below.