Question

is there any problem for a person being a director of his own sole trading company considering the fact that he is a foreigner in Australia?

Answer 1

Yes,there is a problem to some extent for a person being a director of his own sole trading company considering the fact that he is a foreigner in Australia.It is a bit difficult for a foreigner to set up a sole trading company in Australia since the procedure and rules and regulations are strict and lengthy.To set up sole trading company,the foreigner should complete the registration procedure and should strictly adhere to rules and regulations imposed by Australia.The person need to provide evidences of his past business experiences inorder to attain permission for setting up sole trading company.He need to submit his financial history to the respective officials about profits and losses of previous businesses.Then he should provide the structure and plan of the business which he is going to in Australia along with his business and technical expertise.After setting up sole trading company,the director's company is under observation of Australia and then it checks if director is violating any rules,regulations and takes necessary legal actions against the director.The financial position and activities of sole trading company are oftenly checked. Therefore,it is a problem for a person being a director of his own sole trading company considering the fact he is a foreigner in Australia.He need to abide with the restrictions and rules imposed by Australia and he is under constant observation.