Australia is a young country with a dynamic economy and when you come from Europe, we feel there is so much to do, to improve, to start , in all trade areas, especially in services, telecommunications, fashion…
Consequently exporting and investing in Australia has a lot to offer to have your go at the Australian market and we can see more and more overseas companies settle or sell their products in Australia.
The main consideration convincing foreign investors to invest in Australia is the security that your investment will have a great chance to succeed without any major drama. This comes from the following facts:
-A stable economy and a democratic political system, both suitable to all sorts of development.
-An abundance of raw materials (the mining areas nearly cover half of the Australian territory!).
-A legal system that protects all foreign investors: the Australian government encourages and incites all foreign companies to settle and invest in Australia by offering incentives as well as low production and installation costs.
-A constant growth (the highest among the OECD countries).
-Very modern and competitive banking and financial sectors.
-A strategic position in the Pacific and its narrow links with South East Asia, particularly with Japan and China. Australia could be a gateway to Asia for your company.
-A process of privatizing public services and infrastructures (there is nowadays a big debate about totally privatizing Telstra, the main telecommunication company, and Medibank Private the biggest medical insurance).
-Strong incentives to learn and practice all Asian languages: schools impose more and more Japanese, Mandarin, Indonesian, Korean, Thai and Vietnamese in their curriculum; universities also offer full degrees in Mandarin and most language centres offer at least one Asian language.
The only drawback to consider is that the population in Australia is limited to 20 million inhabitants, thus limiting your action. It would be worth considering its close neighbours such as New Zealand, the Pacific islands and South East Asia that heavily depend economically on Australia for its large amount of resources.
What surprises all visitors to Australia is the way Australians deal with their daily life: they constantly express genuine happiness and an easy going attitude that are perfectly reflected in the popular phrases which they use all the time: “No worries mate” or “She’ll be right, mate”. This means: life is great and all problems will be solved by themselves, so why worrying and being stressed! However the law is the law and it is important to respect it at all levels, otherwise you may lose some credit.
Be aware that the Australian government offers free assistance and advice as well as advantageous conditions if you plan to invest in ”Regional Australia”. Info.
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If you have decided to invest in Australia, the first step is to decide what type of business you want to run. There are different types:
-Sole Trader or Registered name: the most popular system to launch a product and open a small business.
-Partnership: interesting if you don’t want to invest in a Pty Ltd and you cannot finance your project on your own.
-Property Limited or Pty Ltd: the most secure legal type of business.
-Branch: if your head office is overseas and you need to be represented in Australia .
-Joint Venture: buying into an Australian company.
-Trust: more and more difficult to open in Australia due to its enormous advantages.
-Franchising: very popular system in Australia; Australia enjoys the highest rate of franchized business per inhabitant, 3 times more that in the USA!!
To better understand these legal structures, please consult the following websites: www.fairtrading.gov.au or www.asic.gov.au.
The second step is to overcome the employment and labour issues: be sure to have understood the employers obligations, salaries and employees conditions.
The procedures to follow are complex and time consuming; they will have to be done in 2 languages unless you are a native English speaker and live in an English speaking country. We can help you find a suitable expert to guide you through all those procedures. If you are interested, contact us at executive@boomerangaustralia.com. Thanks for presenting your project and we will communicate you the feasibility, details and costs.
-Sole Trader or Registered name: the most popular system to launch a product and open a small business.
-Partnership: interesting if you don’t want to invest in a Pty Ltd and you cannot finance your project on your own.
-Property Limited or Pty Ltd: the most secure legal type of business.
-Branch: if your head office is overseas and you need to be represented in Australia .
-Joint Venture: buying into an Australian company.
-Trust: more and more difficult to open in Australia due to its enormous advantages.
-Franchising: very popular system in Australia; Australia enjoys the highest rate of franchized business per inhabitant, 3 times more that in the USA!!
To better understand these legal structures, please consult the following websites: www.fairtrading.gov.au or www.asic.gov.au.
The second step is to overcome the employment and labour issues: be sure to have understood the employers obligations, salaries and employees conditions.
The procedures to follow are complex and time consuming; they will have to be done in 2 languages unless you are a native English speaker and live in an English speaking country. We can help you find a suitable expert to guide you through all those procedures. If you are interested, contact us at executive@boomerangaustralia.com. Thanks for presenting your project and we will communicate you the feasibility, details and costs.
Importing products into Australia from any country is subject to very strict conditions, so before developing and implementing your project, be sure that you can import your product!
First step: can I import my product?
You have first to contact the AQIS that is part of the DAFF (Department of Agriculture, Fisheries and Forestry) and look for all restrictions. Importing dairy products, animals, vegetables, connex products and vegetal -based manufactured products (include also packaging!) into Australia is either forbidden or subject to severe quarantine measures or involving spray sessions at arrival. An import permit is compulsory for some products. To sum up, be aware that there is a certain prohibition to trade in certain products into Australia.
Info about AQIS: www.daff.gov.au/aqis.
Second step: custom rules in Australia.
Another hiccup includes the custom rights: a certain percentage is retained according to the value of the imported goods. Those taxes aim at protecting the domestic industry rather than increase income. Consequently, products that are not in direct competition with the Australian industry are not taxed while entering Australia. The Australian government applied a progressive reduction of these rates ( 5%) in 1988. Australia has already signed several free trade agreements with New Zealand, Singapore, Thailand and the USA.
Some special documents may be requested such as: - An official form for all imported products worth over AU$ 250 (if sent by freight) or AU$ 1000 (if sent by post). - An official form detailing the nature of the imported products, evidence of insurance cover, invoices, etc. If you send some samples, indicate “no commercial value” on parcels and no tax will apply.
For further details, please consult the official website of the Australian Customs Services.
Third step:lmport taxes in Australia.
The list is long and each rate depends on the nature of the imported products. Click here to receive more relevant information.
Conclusion: whatever your project, selecting a competent freight broker specialized in Australia is crucial, knowing that he can assist you through all the procedures and he masters the rules and tips to make sure your trading project be achieved successfully. He is the person responsible to clear all administrative and custom red tape (import permit…).
To identify niche markets, contact the Chambers of Commerce in the city you are planning to trade in.
First step: can I import my product?
You have first to contact the AQIS that is part of the DAFF (Department of Agriculture, Fisheries and Forestry) and look for all restrictions. Importing dairy products, animals, vegetables, connex products and vegetal -based manufactured products (include also packaging!) into Australia is either forbidden or subject to severe quarantine measures or involving spray sessions at arrival. An import permit is compulsory for some products. To sum up, be aware that there is a certain prohibition to trade in certain products into Australia.
Info about AQIS: www.daff.gov.au/aqis.
Second step: custom rules in Australia.
Another hiccup includes the custom rights: a certain percentage is retained according to the value of the imported goods. Those taxes aim at protecting the domestic industry rather than increase income. Consequently, products that are not in direct competition with the Australian industry are not taxed while entering Australia. The Australian government applied a progressive reduction of these rates ( 5%) in 1988. Australia has already signed several free trade agreements with New Zealand, Singapore, Thailand and the USA.
Some special documents may be requested such as: - An official form for all imported products worth over AU$ 250 (if sent by freight) or AU$ 1000 (if sent by post). - An official form detailing the nature of the imported products, evidence of insurance cover, invoices, etc. If you send some samples, indicate “no commercial value” on parcels and no tax will apply.
For further details, please consult the official website of the Australian Customs Services.
Third step:lmport taxes in Australia.
The list is long and each rate depends on the nature of the imported products. Click here to receive more relevant information.
Conclusion: whatever your project, selecting a competent freight broker specialized in Australia is crucial, knowing that he can assist you through all the procedures and he masters the rules and tips to make sure your trading project be achieved successfully. He is the person responsible to clear all administrative and custom red tape (import permit…).
To identify niche markets, contact the Chambers of Commerce in the city you are planning to trade in.
The Property market in Australia
Australians have a very strong tradition to buy a property as soon as they are employed; they feel this is the most secure value and a long term investment. Nearly 70% Australians are home owners! Consequently the market is dynamic and since 2000 it has experienced spectacular growth in the main Australian cities, especially in Sydney and Melbourne, due to vast empty lands in the city centres and warehouses in the ports, all of them transformed into luxury apartments; an extraordinary boom that made happy millionaires. This movement has slowed down in the last 3 years except in Perth, where the property market has been exploding for the last 2 years!
This generates high confidence among urban Australians (17% in 2005) to invest in real estate without living in it and renting it out.
Buying a property
Buying a property or a land in Australia is complex, knowing that each state has its own particular rules. You have to be aware that certain states will forbid you buying a property if you are not an Australian resident. It is well known that Queensland is the state that encourages foreign investment in the property market. But being a home owner in Australia does not guarantee you permanent residency in Australia.
You will be subject to a Stamp duty (an Australian government tax) on the total amount of the property value.
Australians have a very strong tradition to buy a property as soon as they are employed; they feel this is the most secure value and a long term investment. Nearly 70% Australians are home owners! Consequently the market is dynamic and since 2000 it has experienced spectacular growth in the main Australian cities, especially in Sydney and Melbourne, due to vast empty lands in the city centres and warehouses in the ports, all of them transformed into luxury apartments; an extraordinary boom that made happy millionaires. This movement has slowed down in the last 3 years except in Perth, where the property market has been exploding for the last 2 years!
This generates high confidence among urban Australians (17% in 2005) to invest in real estate without living in it and renting it out.
Buying a property
Buying a property or a land in Australia is complex, knowing that each state has its own particular rules. You have to be aware that certain states will forbid you buying a property if you are not an Australian resident. It is well known that Queensland is the state that encourages foreign investment in the property market. But being a home owner in Australia does not guarantee you permanent residency in Australia.
You will be subject to a Stamp duty (an Australian government tax) on the total amount of the property value.
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Website by Francois Verollet
Website by Francois Verollet