Opening an account with a bank in Australia in 2020

Opening an account with a bank in Australia in 2020

Australia is the smallest mainland, which is located between the Indian Ocean and the South Pacific. It provides convenient services for both small and medium businesses.

The main advantage is that in some Australian banks there are no requirements for the authorized capital. YB Case specialists will provide you with professional assistance in registering a company in Australia.

In which banks can a client open an account in Australia quickly? We offer you 4 largest banks in Australia:

  • ANZ Bank has been operating since 1835, and in the same year the first branch in Sydney was opened. If you decide to open an account for a company with ANZ, this will allow you to open and develop business in the Pacific region and protect your assets.
  • You can open an account with Commonwealth Bank of Australia remotely for non-residents of the country. The bank is considered to be one of the largest banks in Australia. If you decide to open an account with Commonwealth, then the minimum investment amount should be $10,000. It is believed, that it is in the Commonwealth Bank that online banking is the most progressive and easy to us
  • To become a client of an Australian bank, you can open an account with NAB, which has been providing its banking services since 2008, and operates in 10 countries. Currently, the bank serves more than 8 million customers.
  • Among Australian banks with many assets, Westpac is in second place. Westpac Bank has the largest ATM network. You will be able to open an account with Westpac, while receiving and carrying out an unlimited number of cash transactions.

Australian companies managed to gain a high reputation in the financial market due to the stable and developing economy of the country.

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In order to successfully carry out entrepreneurial activity in Australia, you need to consciously approach the choice of the company's business structure. You can register a company in Australia in the following forms:

  • As a company with unlimited liability and share capital (unlimited with share capital);
  • As a company with shareholder liability limited to paid shares in the company's capital (limited by shares);
  • As a business structure of an individual entrepreneur, where the entrepreneur is not a legal entity, and thereby bears unlimited liability for the obligations of the business (sole trader)
  • A company, limited by guarantee.

All banks issue Visa or MasterCard debit cards within a week. Australian bank cards are accepted at all banks in the world. But withdrawing personal funds from a card can cost about $5, depending on the bank.

YB Case competent experts can offer you the best solution for opening an account with Australian banks and provide qualified support services in setting up a company in Australia.

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