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VB

Starting a Business With Ease

Legal Shot

The World Bank has ranked Australia seventh in the world for the ease of starting a business. Brisbane Economic Development Agency is the primary source for assistance in moving a business to Brisbane to access the Australian market.

Registering a business in Australia is simple. It takes on average of 2.5 days, involves just three procedures and can be done either by an organisation itself or through a specialist service provider. The Australian Securities and Investment Commission is Australia’s corporate, markets and financial services regulator and carries out most of the work under the Australian Corporations Act 2001. The registration of a business can usually be completed within a day, with tax registrations normally processed within a week.

Key Indicators of Doing Business (2015)

AUS

USA

UK

JAP

IND

CH

HK

SIN

Starting a business
Procedures (number) 3 6 6 8 11.9 11 3 3
Duration (days) 2.5 5.6 6 10.7 28.4 1.4 2.5 2.5
Enforcing contracts
Procedures (number) 28 33.6 29 32 46 37 26 21
Duration (days) 395 420 437 360 1420 452.8 360 150
Resolving Insolvency
Time (years) 1 1.5 1 0.6 4.3 1.7 0.8 0.8
Recovery rate (cents in the dollar) 81.9 81.5 88.6 92.9 25.7 36 87.2 89.7
Getting Credit
Strength of Legal Rights Index (0-10) 11 11 7 4 6 4 7 8
Depth of Credit Information Index (0-6) 7 8 8 6 7 6 7 7

Source: World Bank Group, Doing Business in 2015

Abbreviations: AUS: Australia, USA: United States of America, UK: United Kingdom, JAP: Japan, IND: India, CH: China, HK: Hong Kong, SIN: Singapore

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