0:02
Well, hi, everyone, This is from our friends, down under, in Australia.
0:06
I’m gonna take you step by step, and show you how to register a limited liability company in Australia, and it’s going to work just almost like, probably exactly like a New Mexico LLC, or pretty much any LLC in the states.
0:18
The only exception is that, it’s gonna, there’s a little more formality in Australia, but it’s no big deal.
0:25
You can avoid some of the tax numbers. There is one tax number that we have to get, but that’s part of the process.
0:31
And you can use it for the same exact purposes that I describe in all my videos from, based on my research here. So it’s going to work out pretty good.
0:39
If you have a, an LLC already in the States, and you want to domesticated in Australia, the easier way to do it I think, is to just register a new company in Australia that is under the same name as whatever LLC or using the States. The way it’s called, the waste referred to in Australia is a proprietary company.
1:02
OK, or Proprietary Limited Company, that’s an LLC, and the designation there is not LLC, it’s going to be P T Y, so not much difference there.
1:14
So, let me flip over, and, um, I’m going to share my screen here.
1:20
So, you see here, before I even started this. I just went and I’d recommend this to anyone. I mean, I do this, I’ve done thousands of these, I always do it like this. So I go and I set up the details.
1:31
I can tell you that all right.
1:34
There’s a couple more items I wasn’t aware of.
1:36
So anyways, I went ahead and I created this file.
1:38
I called myself the director Call myself the agent I created a private membership association, which is going to be really useful for the pretty guys down there And I got this address here. I’m gonna show you where I got that, how I got it. You don’t need to do it. Like that You can just use your home address or your actual office address. I don’t live there. I don’t have anything over there, so I had to do it this way, and I’ll show you how.
2:02
Then, there’s a residential address, And then I gave myself a date of birth.
2:05
I just made that up, made myself younger.
2:09
And then, um, there’s an ID. So, what I had to do first is I’m gonna show you just right now, I had to create a user ID and a password so that I can access their registering process.
2:20
So, if I flip over here, you’ll see I go to this website, register dot business dot gov dot EU.
2:26
So, when you go there, you just register a company, OK, you click on this link here, In, my computer is kind of slow, but anyways, Um.
2:35
It’s going to be, OK. So it’s gotta be an Australian company, and company name. That’s what I was forming here.
2:42
So I’m telling the website, I’m going to be doing this thing, and I have to register. So it’s going to say Fine.
2:50
I don’t need all these things here.
2:51
I don’t need the GST. I don’t need any of that. I can just ignore all that.
2:56
Don’t need to apply for tax registration. Do not need an ABN.
3:01
And then we go next, and you’ll get your account open. OK, so when you get your account open. It’s gonna look like this. Now.
3:07
Let me just start from the end and go backwards if I want to do it today, So I’ve got some step by step once I did this Then I Collected this these steps here. So let me just take you to the actual website.
3:20
This is after. I’ve completed all the steps.
3:22
I’m going to show you, so you see, I’m given a summary, so I’ve gone through this, so I select the registration, getting, started business, name, company details.
3:30
All I’m doing here is just entering really this information, OK.
3:35
So anyways, you can see I’ve been given a summary, now, let me explain something to you.
3:40
The P T Y Limited is the Proprietary Limited Company. This is your LLC in Australia.
3:47
The ASEAN is a tax number and I don’t remember what ACN stands for, I’m sorry, it almost doesn’t matter.
3:53
Because here’s what I did as I was registering, I selected the option to not choose a name for the company.
4:01
And it defaulted to the ACN.
4:03
So whatever number is being assigned by this, by your government is going to be considered the company name, you can just do that because that name is going to be fine, you can operate under whatever business name, trade, name, trademark, whatever you want. It doesn’t have to be the actual name of the registered company.
4:21
It’s interesting because I’ve never seen anyone understand that. I’ve never seen anyone recognize that fact. For example, I can register a company or any name I want.
4:29
That doesn’t have to be the name of the business that I interact with the public, with, or whomever.
4:34
So in any case, I get to, um, look through here I can edit whatever I had typed in. So again, this is the end of what I’m registered when I’ve registered everything. It’s a private company.
4:45
It’s limited by shares, OK.
4:48
There you go. The subclass is Proprietary Limited.
4:52
OK, what name did I use? Well, like I just said it was the ACN OK?
4:58
Of course, it’s available. It’s a unique number that makes it easy and OK.
5:01
So I got a, an address here’s how I did that, just like I do in the States.
5:06
I actually went and searched on the internet for office space for lease. And I picked Sydney Australia because that was the first name, that came to my mind.
5:14
You guys would probably pick New York, right? So, I’m going to pick Sydney, Australia.
5:19
And I just grabbed this address.
5:21
OK, went back here, and what I did, actually, is I put it in this file here. So now I have it.
5:27
I did the same thing for the residential address.
5:29
I went just searched on residential address in Sydney, New South Wales, New South Wales, Sydney, and I, I got this address.
5:39
OK, and I look for an apartment address.
5:42
I liked his apartments because I can name the apartment complex, and it’s a real residential, and it never identifies an individual unit or someone’s place.
5:52
So, that’s just one of the things I like to do.
5:55
That way, that’s my style.
5:57
So you can do it however you want.
5:59
All right, So I’m going through this.
6:02
It’s in the State or Territory of New South Wales.
6:07
It’s under ultimate holding company.
6:10
I picked, yes, now I called my PMA, which is going to be key here, because everyone talks about offshore companies. When you’re using a PMA.
6:21
It has the same effectiveness without all the scrutiny.
6:25
You’re going to see how this works, so I chose the Coral Reef Society, PMA.
6:30
It’s asking me, Now, Where’s the place of incorporation?
6:33
Well, it’s a private membership association. Now I don’t know if they’re going to come back and say, Now that’s not good enough.
6:39
Let’s just find out, well, wait and see. I mean, if we read, I didn’t register, by the way. So we should be fine.
6:47
So, yeah, this organization exists and doesn’t really have a nationality until I say, tell somebody what it is or use an address for it. I think it’s going to be effective here.
7:00
Then the principal place of business is the same. That way they don’t ask more questions, and it’s an occupied. Yeah, If it’s not occupied, I have to get permission regarding that address from somebody and we’re not going to do that now. In your cases you may do that.
7:12
In my case, not, I made myself the director.
7:16
That’s my name, Place of birth, make things simple, date of birth.
7:21
Here’s that residential address.
7:22
I was telling you role as a shareholder. Here’s the shareholder.
7:28
Now, you’re the shareholder. No, that means you have no liability, however, you have all the control. That’s really cool.
7:33
It’s exactly what we do for LLCs here in the states, been doing it that way since the nineties. So here you go this way, do for Australia. That’s the business address I found.
7:41
OK, the share or Class type of stock is a founder’s that makes sense. All right.
7:49
The … founded it, it’s the organizer.
7:52
I just made up a number of dollars, $100, OK. So let me back up a little bit.
7:59
Company details. My computer’s kind of slow but I’m going to backup.
8:06
So you see how it’s asking all this information?
8:10
Easy stuff, really?
8:12
I used my e-mail address you see, yeah, yes, yes.
8:19
Company occupies the address, then that way they ask less questions.
8:24
I’m gonna go back up another step business name OK It’s the number being assigned So you see you get it you get an option here.
8:33
Use the ACN Australian Company number OK ACM so go back to this step.
8:48
And that’s what it is, it’s a proprietary private company.
8:53
Not a public company, It’s not a home unit, it’s not a not for-profit, for-profit, because if you say not not for-profit, well, you gotta qualify, right? You probably have, it’s another series of questions. You’ve got an answer.
9:06
This is a proprietary Limited company.
9:09
I don’t know that I would do a superannuation trustee because again, you may have to come up with some sort of instrument.
9:15
Now, when I went to this process, instead of uploading my own constitution or articles, I just want with the government’s default terms of and LLC or proprietary limited company. I’m sure I can change them later. I know I can change them later, I’ll have to do is write my articles where I want and I can upload it.
9:31
But, I think, most of what you guys care about is the fact that you’re not the owner of the stock, OK.
9:37
So let’s go back to Let’s see, the first one.
9:41
Yeah.
9:42
So, like you guys have already seen, here we go from the beginning so that if I wanted to, no, I just go through, See.
9:51
Notice how there’s a reference number assigned here.
9:54
Notice, I have an account with them.
10:00
So let’s see if I can.
10:05
Rosas it’s telling me what type of information I’m going to be needing.
10:11
I mean, this kinda took care of itself. I didn’t really pay too much attention to that.
10:18
So, I’m going to work my way back to the last step.
10:23
Save and Continue.
10:25
So, this is saved in my account.
10:27
If I wanted to go login again, I can just go to this website here. What is it? This one here?
10:36
Login again, and now resume my formation of the company.
10:43
So, next, And here are the fees, In this case, whatever I registered, the way I’m showing you how to do this was $512.
10:54
It’s a little high, but hey, should be all right, it’s gonna pay off.
11:06
So, OK, that’s the begin the process again. So, let me just go the step go over the steps. Now, I have this file here.
11:11
It’s a proprietary company.
11:13
It’s a P T Y peaty why I think LTD sometimes the subtype is LTD Limited.
11:21
So, that’s why you might see it as TTY LTD sometimes.
11:24
See, I should I chose to use the ACM as the company name.
11:31
And then I picked, you know, pick your state, I’m gonna pick New South Wales.
11:37
Pick Sydney.
11:38
Then I chose yes. Will accompany Occupy the I. dress, yeah.
11:43
It’s the main place of business, yeah.
11:45
Is it a holding company, yeah?
11:48
Then no, for not registered in Australia that had to do with the PMA.
11:54
They accepted it so so far. I mean the software accepted it. So the PMA is this. So I listed this as you saw there as a shareholder, the sole shareholder.
12:05
And that’s it.
12:07
It’s that type of this, it’s a type of shareware I called Founder Cher, there’s like 20 different kinds of shares.
12:13
You just need founder shares, that’s going to be fine.
12:15
You can give a dollar amount, a reasonable Mows $100, really. If I’m really doing a company, it’s probably gonna be, like, $100,000 or $10 million, right?
12:24
If I have real partners and things like that. So or if you’re just getting started, this is fine.
12:29
It is not beneficially held. So I don’t want, I’m, I’m imagining that if I say it is, I’m gonna have to talk about who is it beneficial holder other than who I disclosed here.
12:40
So I want to limit the amount of questions I gotta answer, to get this thing registered.
12:44
Remember, all we’re really trying to do is get to the bank, and we’re also trying to, we’re trying to get a vehicle that we can use to go do our banking.
12:51
And we’re also trying to make it to where the thing we’re using is not going to have duties like filing returns and things like that.
12:56
So far, I don’t see that that is the case here. If you’re doing this, I believe it’s going to work just like in the States, OK, where we don’t follow return at all.
13:05
And I should add that. That’s, we’re doing that legally, not tricking, anything I’m going to, not tricking anyone, or tricking the system, and then choose to allocate Chairs, share, sorry, choose how to allocate shares.
13:19
Then save and continue.
13:20
So when you select, choose how to Allocate shares, you just allocate it to the PMA.
13:27
That’s it’s very easy there and so that’s it.
13:30
I mean that shouldn’t take you more than 10 minutes, maybe five minutes.
13:36
All right, so that is how you register it.
13:39
How we interact with the bank. I don’t know yet, I believe we should be just fine doing it the same way we’re doing it.
13:44
We’re probably going to need some kind of copy of the articles from the, the state or the province, or the territory.
13:51
I believe the bank will probably accept a, an unofficial copy of the certified copy.
13:57
If not, I’m sure you can order one very easily and get a certified copy.
14:00
So, great.
14:03
I’m sure we’ll have do a follow up, and I invite any questions.
14:06
Hope this helps.