Australian Resident Director
For all private companies registered in Australia, ASIC (Australian Securities and Investments Commission) requires that a local Australian resident be appointed as a director of the company at all times. This regulation is designed to help ensure that the company remains compliant with its regulatory obligations.
The director residency rule can be a major hurdle for overseas businesses wishing to establish a subsidiary or other business presence in Australia. KGBM Corporate Services has designed a cost-effective and seamless solution, which in many overseas jurisdictions is referred to as a ‘Nominee Director’. Refer to the Corporations Act, ASIC and the ATO (Australian Taxation Office) for more information on the applicable regulations and requirements.
Due to the regulations in Australia, a company director is responsible for certain aspects of the business regardless of whether he or she is appointed in a nominee capacity, or as an actual managing director. For this reason, we use the term “Resident Director” for all directorship appointments that our pool of directors provides.
Appointing a Resident Director can be a complex matter, with so many obligations, questions, regulations and rules to be aware of. KGBM provides you with fast access to a pool of directors who have passed our standard background, credit and police record checks.