by touchifstyle  21/02/2018  231 Page Views
3 Comments  Commercial law, litigation, contracts, IP, property law
I got approached by a friend to assist with him opening an Import/export company in Australia for Airplane parts, with myself acting temporary director and due to advice he received bellow
To apply for an ABN number with the minimum of hassle I would recommend you appoint a temporary director to your company that is Australia resident that has a TFN number.
Because you are non resident and do not have a TFN number it will take about two month to get the company a ABN number.

So this is what the accountant has recommended and makes it 100% legal.

1) Appoint a friend or someone you know to be a director with the agreement that they will resign after two months leaving as sole direct.
2) When your friend or someone you know is add as a second director use their TFN number to apply for the company ABN number.
3) An indemnity letter that no trading or bank accounts to be opened until the proposed director has resigned and has been removed as director.
4) When your ABN number arrives, your friend will resign as director so he is out it.

I do have a concern here with protecting myself both legally and financially both during the period I am director and once I’ve resigned

I don’t have the knowledge to know all the legal and financial consequences
Here is a link the indemnity letter draft, I’ve removed person details