How does Australia define a foreign company?

A foreign company is an entity that satisfies the definition of ‘foreign company’ in section 9 of the Corporations Act 2001 (Corporations Act) – i.e., generally, a company registered outside Australia.

Foreign companies can invest in Australia subject to complying with:

• The Foreign Investment Review Board (FIRB) rules and legislation.
• ASIC’s requirement to register as a ‘Registered Foreign Company’ if operating a business in Australia.

Implementation process:

• Register as a ‘Registered Foreign Company’ with ASIC if operating a business in Australia.