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