Living Overseas and Company Directorships All Australian companies must have at least one director that is ‘ordinarily resident’ in Australia, section 201A(1) Corporations Act 2000, CORPORATIONS ACT 2001 - SECT 201A Minimum number of directors . Where the company does not have at least one director ordinarily resident then it would be a breach of the Corporations Act which could result in fines being imposed. Unfortunately the term ‘ordinarily resident’ is not defined in the Corporations Act and there are also no cases concerning this section (that I can find). Therefore the courts will interpret the phrase using it ordinary meaning. With ‘reside’ referring to the place where one ‘lives’ and ‘ordinarily’ meaning ‘normally’ or ‘usually’. So where a person, including an Australian Citizen, has moved overseas and set up a home it is unlikely they would be considered to be ordinarily resident of Australia. This has important implications for people living overseas and setting up trust structures in Australia to own property.