Frequently asked questions.
The Australian local director requirement, the resident director's role, timing and fees.
Does my Australian company need a resident director?
Yes, if it is a proprietary company. At least one director must ordinarily reside in Australia (s 201A Corporations Act 2001). The other directors can live overseas. Reservoir Legal covers the requirement in more detail in Does my Australian company need a resident director?
Is a resident director a real director?
Yes. A resident director is a director of your Australian company in every sense, with the same legal duties as any other director. That is why we take time to understand your group before we are appointed.
Will you be involved in running the business?
No. Day-to-day management stays with your team. Our role is board-level oversight of Australian governance and compliance, and prompt review and signing of board documents.
Do you give personal guarantees?
No. We do not guarantee the company's obligations, for example to banks or landlords.
What do you need from us before appointment?
Information about your group and its owners for our identity checks and a signed engagement letter. We usually also ask for a deed of access, insurance and indemnity and directors' and officers' insurance. For early-stage companies, we discuss the options that suit the business.
How quickly can you be appointed?
Once our checks and engagement are complete, appointment can usually be made promptly. Every director needs a Director ID before they are appointed, including overseas directors, so we discuss the timing with you as part of planning your set-up.
Can you also act as company secretary or public officer?
Yes, through Reservoir Legal, together with company set-up and ongoing governance support.
How much does it cost?
Fees depend on the size of the company and the scope of the role. We quote on request once we understand your requirements.
What if we no longer need a resident director?
We manage an orderly resignation and handover, giving you time to appoint a replacement.