Moving from Singapore to Sydney

Hello everyone. My family and I are making arrangements to move over from Singapore to Sydney. My current employer (based in the UK, has an office in Singapore) wants to retain me but is unwilling to set up an office/business entity in Australia. Doing my research, it seems the work arrangements that would make most sense would be:

1. Engage a labour hire company to be the employer on record (EOR)
2. Set up my own company and they engage me as a contractor (i'm a strategy consultant)

This is totally new territory for me so would appreciate anyone else who has done this or has this type of arrangement before or currently? Thinking #1 would be the least painful for both parties with just the added cost of the EOR company fees. #2 is more work for me since i would be doing most of the legal tasks (tax, super, etc) and i wouldn't have the security of a full-time employee but would be more flexible if ever i wanted to leave for another opportunity or work on my own business.

Some context - I have full work rights (would be coming over on a 190 PR visa). The company also has an office in New Zealand (not sure if relevant).

Thanks all!