Australia & New Zealand 

Oceania is a region consisting of a large cluster of islands in the central and western areas of the Pacific Ocean. It includes 14 countries, among them are Australia, Micronesia, Fiji, Kiribati, Marshall Islands, Nauru, New Zealand, Palau, Papua New Guinea, Samoa, Solomon Islands, Tonga, Tuvalu, and Vanuatu. Today, we will talk about two that have the largest GDP per capita and the most developed markets — Australia and New Zealand. Both countries are also noted for their advanced economies, good investment climate, and favorable conditions for building up new businesses. 

Australia 

Australia is recognized as one of the most developed countries across the globe. It is a huge continental state with a vast market of services. The most popular of which are financial and medical services. The Australian government supports business structures as much as possible, introducing various types of funding, grant programs, and activities that help entrepreneurs to successfully develop and grow. 

Principal business entities. These are the public company (“Limited” or Ltd), private company (“Proprietary Limited” or Pty Ltd), partnership, corporate limited partnership, trust, superannuation fund, sole trader, and branch of a foreign company, — states Deloitte. 

Cost and terms of registration. The price for the company incorporation service with Clevver's support in Australia begins from 2,999 Euros. When all pre-incorporation documentation is in place, it takes from 3 to 5 business days to settle a company here. 

Advantages: 

• Australia has a reputation as an economically and politically advanced country with a high standard of living and GDP growth;  
• A state is a reliable place for trade and investment as it has strong business ties with the United States, China, Japan, India, and Korea; 
• Australia has free trade agreements with ASEAN, Chile, New Zealand, and the United States;  
• The country has signed over 40 double taxation treaties with other states.  
• Clevver assists with the remote Pty LTD. company registration in Australia. The documentation on incorporation is accessible digitally. 

Financial statements must be filed annually. 

New Zealand 

New Zealand is one of the largest and prosperous countries in Oceania. In the country, agriculture, manufacturing, food industry, and tourism are well-developed. The main trading partners of New Zealand are Australia, the USA, Japan, and China. In its annual World Bank's Doing Business Report 2020, out of 190 countries in the world, New Zealand is ranked No. 1 with a score of 86.8 for ease of doing business. 

Principal business entities. These are the public and private limited liability company, partnership, limited partnership, trust, sole proprietorship, and branch of a foreign corporation, — says Deloitte. 

Cost and terms of registration. Commencing pay for the business formation service with Clevver's help in New Zealand is 4,500 Euros. As soon as all pre-incorporation documents are submitted, it takes up to 4 business days to set up a company in the jurisdiction. 

Advantages: 

• New Zealand's legislation is considered to be one of the most loyal for setting up a business; 
• The country has a well-developed banking and legal services industry;  
• New Zealand has an excellent reputation in the international business arena;  
• The Kingdom of New Zealand signed agreements with almost 40 states on the avoidance of double taxation;   
• Clevver lends a hand in the online company registration in the jurisdiction of New Zealand that does not require the owner’s physical presence.   

Generally, SMEs are not required to prepare general-purpose financial statements. However, they are subject to special-purpose financial reporting under a minimum designated standard. 

Conclusion 

Both Australia and New Zealand are exceptional places to form your business in the area of Oceania. The governments of the countries have done a great job to make these jurisdictions attractive for business settlement. The online company registration service with Clevver’s assistance is fast and fully remote, allowing you to start up a company in New Zealand and/or Australia effortlessly. 

Together with a network of qualified legal partners, Clevver helps with remote business establishments globally, including the Oceania region. Find out details on our site or get in touch with our specialists. 

DISCLOSURE NOTICE:  Any legal or tax advice in this communication (including any attachments) is for information purposes only and is not intended to be used, and cannot be used against Clevver or its Sender. The sender is neither an Accountant nor a Lawyer and cannot be made liable. Please, contact your tax accountant for individual consultation. Clevver does not provide any legal advice itself. Clevver works together with a network of lawyers and tax advisors that provide all necessary individual legal advice.