The Laws And Corporate Structures Are Selected For A Variety Of Purposes

910 Words Aug 14th, 2015 4 Pages
Entity structures are selected for a variety of purposes. However, the primary objectives are to minimize the tax burden, shield assets from liability, protect the shareholders from personal liability, and promote the ability to raise capital (Miller & Cross, 2011). The laws and corporate structures in Australia are slightly different from the USA, and they are managed by the government entity, the Australian Securities and Investment Commission (ASIC); whose function is very similar to the United States Securities and Exchange Commission (SEC) in its regulation of the capital markets (ACIS, nd). During the course of setting up our companies we had to sort through the myriad of regulations to ensure were legally compliant yet still strengthening our position as shareholders. In the end, we used a multiple entity configuration in Australia, which was duplicated more less when we opened a second facility in Fiji, except for bringing in an investor.
The idea for setting up the group came out of relationships established while consulting for a company with a large contract with Optus Singtel. At the time, it was the second largest Telco Company in Australia and had contracts with seven service providers to engage in sales and customer service activities in the residential telco space. Oceania Customer Interaction Services, Pty Ltd (OCIS) was founded with a small Optus contract which was just enough to get us started. From the small 36 seats we grew to over a couple hundred…

More about The Laws And Corporate Structures Are Selected For A Variety Of Purposes

Open Document