![\"\"](\"https:\/\/intas.com.au\/wp-content\/uploads\/resident-director-780.jpg\")
<\/figure>\n\n\n\nWhat is a resident director?<\/h3>\n\n\n\n
One of the requirements stipulated by ASIC<\/a> when setting up a company in Australia is that all private companies registered in Australia must have a local Australian resident appointed as a director of the company at all times.<\/p>\n\n\n\n To be eligible to be a director of a company, they must:<\/p>\n\n\n\n A proprietary company (Pty) must have at least one director.<\/p>\n\n\n\n A public company must have a minimum of three directors, with at least two of whom must ordinarily reside in Australia.<\/p>\n\n\n\n The resident director plays a significant role in the strength and success of a business and comes with responsibilities imperative to supporting and ensuring compliance of an Australian business.<\/p>\n\n\n\n Responsibilities include:<\/p>\n\n\n\n It is an important decision and even challenging to choose a Resident Director given the obligations that go with the nomination. It is advised that you proceed with caution before appointing a nominee.<\/p>\n\n\n\n Whether you have appointed a resident director in a nominee capacity or as a managing director, this person must be familiar with and meet all corporate governance responsibilities under the Australian Corporations Act 2001.<\/p>\n\n\n\n The director must have sound financial skills, to ensure financial records and reporting requirements are compliant and adequate financial systems are in place to manage and control all accounting activities.<\/p>\n\n\n\n Under the director penalty regime, directors can become personally liable for:<\/p>\n\n\n\n The resident director will also need to be familiar with and compliant in all business registration obligations and requirements, ensuring their accuracy and on-time lodgement with the necessary regulatory bodies.<\/p>\n\n\n\n Further reading about our Australian Resident Director<\/a> services. <\/p>\n\n\n\n A public officer is the Company\u2019s representative to the Australian Tax Office and is responsible for the Company\u2019s obligations under the Income Tax Assessment Act 1936.<\/p>\n\n\n\n A public officer can be appointed at the time of company registration. If you have not appointed a person as a public officer at incorporation, you can nominate one within three months of the company commencing to carry on business (registration).<\/p>\n\n\n\n The notification of appointment must include the public officer’s name and a contact address. There are daily fines (as of 2018, the fine is $110 per day) for every day the business does not have a public officer appointed.<\/p>\n\n\n\n The public officer is answerable for everything that is required by the company on tax-related purposes.<\/p>\n\n\n\n If the company is in default, the public officer is liable to these same penalties however, they are not liable for the payment of tax due by the company.<\/p>\n\n\n\n A public officer must have the capacity to understand the role and responsibilities that come with the appointment. Detailed knowledge of accounting and tax obligations is required as they will be the liaison between the tax department and the company. They need to ensure the company is registered with the appropriate authorities and is paying all required taxes.<\/p>\n\n\n\n For detailed information on the role of a public officer, read our blog \u2018What is a Public Officer and why do I need one?<\/a><\/p>\n\n\n\n\n
The responsibilities of an Australian resident director<\/h3>\n\n\n\n
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The skills needed by the resident director<\/h3>\n\n\n\n
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Public Officer<\/h2>\n\n\n\n
![\"\"](\"https:\/\/intas.com.au\/wp-content\/uploads\/public-officer-780.jpg\")
<\/figure>\n\n\n\nWhat is a public officer?<\/h3>\n\n\n\n
What are the duties and responsibilities of a public officer?<\/h3>\n\n\n\n
Skills required of the public officer<\/h3>\n\n\n\n
Local Agent<\/h2>\n\n\n\n
![\"\"](\"https:\/\/intas.com.au\/wp-content\/uploads\/local-agent-780.jpg\")
<\/figure>\n\n\n\nWhat is a local agent?<\/h3>\n\n\n\n