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Published On: Thu, Jan 9th, 2020

Understanding Australian resident director services

The financial service industry is one of the most significant industries in the world. This should not come as a surprise, considering that finances are one of the instrumental components in life. Like it or not, your finances play an important role in the lifestyle that you can successfully live and maintain. That is the way it is. For business owners, this is especially true, given that they are in control of not only their personal finances but the finances that surround their business too. When you run a business, it can be challenging to stay on top of the financial aspect of the company.

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That is why having financial services like resident director services on your side (especially if you are expanding your company overseas) makes such a phenomenal difference to not only how your company’s financials play out immediately, but how they continue to perform on an ongoing basis. Financial services are all about working with clients to give them the optimal results. One of the most worthwhile investments in financial services is without a doubt resident director services. So, what are resident director services?

Introducing resident director services

The Australian law surrounding operating businesses across the nation requires for every business in question to appoint an Australian resident who is registered as a director. In most cases, this is a non-issue, because the owners or directors of these said businesses already reside in the country. In the case of internationally based businesses, however, it is important to appoint an Australian Resident Director in order to set up the business properly on Australian soil. It sounds simple enough – and in some ways, it is that simple – but there are important factors to consider when approaching the appointment of a Resident Director.

The smaller details in fine print

International companies looking to expand their exposure and reaches into Australia have the opportunity to offer the role of Resident Director to a member of their own staff, so long as the staff member in question is a resident within Australia during the time of appointment and having the job. The other option available to fill the necessary role of Resident Director at any given company is to utilise the third-party service of a firm that is dedicated to carrying out this specific role.

What the Resident Director does

Essentially, the individual appointed as the Resident Director is in charge of assisting with the setting up of a business in Australia, as well as the aftermath of setting up said business. From ensuring the business in question meets all legal and regulatory requirements to open and run a business in Australia, to assisting with ongoing commercial support, and every aspect of business operations and the like in between and beyond, the individual given the role of Australian Resident Director is going to have an active front-row seat to the operations and general management of the business for the duration of its operation in Australia (or as long as the chosen individual is in the role), so it is important to get it right.

Author: Ulyati Jaya

On the DISPATCH: Headlines  Local  Opinion

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- Outside contributors to the Dispatch are always welcome to offer their unique voices, contradictory opinions or presentation of information not included on the site.

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