Many companies consider conducting international business in Australia for a multitude of reasons but are far less clear on their options for Australia hiring. Many businesses love Australia for it’s economic stability and resiliency; according to the Australian trade commission it has had 25 years of uninterrupted GDP growth averaging about 3.3%. Australia’s GDP did not drop even in 2008. Australia can also serve as an english-speaking hub for companies who want to do more business in the Asia-Pacific region; 42% of Australia’s GDP can be attributed to trade with Asia. Lastly, Australia has a great workforce and embraces innovation; Australia’s CSIRO (Commenwealth Science and Industrial Research Organisation) ranks in the top 1% of the world’s scientific institutions in 15 research fields.
So if it looks like you are on the path to do some hiring in Australia and doing business there, here are your options for employment relationships.
Each one of these methods has positives and negatives. Many times the deciding factor simply comes down to budget or timeline and that makes many companies lean towards just entering a foreign independent contractor route. We will go into more details below, but we want you to know that there are many hidden risks in that method.
Traditional Method: Australian Foreign Subsidiary Company Establishment