RESIDENT DIRECTOR SERVICES
Resident
Director Services
Resident Director Services in Australia
Companies in Australia are required to have a resident director. For a director to be considered a resident, he or she must be considered to ‘ordinarily reside’ in Australia. Effortlessly meet Australia’s regulatory requirements by appointing a resident director. Choose BD Welsh as your reliable partner in navigating Australia’s regulatory landscape.
Three Easy Steps to Appointing
a Resident Director
3 Easy Steps
Step 1:
Nominate a resident
director
Step 2:
Obtain formal signed consent to the
company
Step 3:
File letter of appointment and disclosure to the Australian Securities and Investments Commission (ASIC)
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Why BD Welsh?
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Frequently Asked Questions
Faq’s
Do all companies need a resident director?
Under the Australian Corporations Act, all registered Australian companies must have a resident director.
Who can be a director of an Australian company?
Any person over the age of 18, who has not been disqualified from managing an Australian corporation, is eligible to be a director of an Australian company.
How many directors are required for an Australian company?
There are two types of company structures in Australia. One is a proprietary company (Pty Ltd.), the other is a public company (Ltd.). Proprietary companies require a minimum of one resident director. Public companies require a minimum of two resident directors, as well as one company secretary.
Can a foreign person be a director of an Australian company?
It will depend on the circumstances of your business strategy. If you choose to have a business trading in Australia, it is generally recommended to set up a company in Australia.
How long do I need a nominee director for?
A nominee director will generally be required until the company sends a senior manager or executive who will reside in Australia and can act as the resident director of the company.
What risks does a director of an Australian company face?
While a director’s involvement in the day-to-day management of the company is limited, their accountability is comprehensive. In certain cases, directors can be held liable where a company is involved in breach of law. This underscores their pivotal role in ensuring the company’s compliance with all legal and regulatory obligations.
What does it mean to ‘ordinarily reside’ in Australia?
Sections 201A(1) and 201A(2) of the Corporations Act 2001 contains information on residential requirements of directors, which differs between public and proprietary companies. However, the act does not clearly define the concept of “ordinarily resides” as it pertains to directors. Ordinarily resides can generally be interpreted as being settled or regularly living in Australia. This can include both Australian and non-Australian citizens.
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