Who can register a company in Australia?
Most people are eligible to register a Pty Ltd company in Australia. The only requirements are that the company has at least one director residing in Australia and a physical address (not a PO box) for the registered office.
Note that if none of the company directors are eligible to work in Australia, you will be able to register the company, but it cannot trade. People with a history of bankruptcy or those with certain criminal convictions may also be restricted from being a director.
How long will it take to register my company?
Most applications are registered in one day, many within an hour or two. It really depends on two factors; you sending us proof of identity documents and your application not being flagged by ASIC for manual review. The most common reasons for a manual review include using made up or foreign words in your company name, choosing a name that has already been registered, or providing incorrect details in your application. Once your company is officially registered with ASIC, we will send all certification and company documentation ASAP.
Applications flagged for manual review by ASIC usually take an additional 15-60 minutes to be registered if submitted during business hours. If your application is submitted outside of business hours and requires review, it will be processed the following business day.
When will I receive my ASIC corporate key?
You’ll receive your corporate key within 3-5 business days by mail to your registered office address. Unfortunately, you cannot receive it over the phone or online.
Can I form a company on my own?
Yes, a Pty Ltd company can be formed with one person. That person will be both the director and shareholder of the company.
I don’t understand the part about shares. What does it mean?
Much like companies on the stock market, many private companies also issue shares. This is true for Pty Ltd companies too. Issuing shares is a way of giving ownership of the company to one or more people. Anyone issued shares in the company is considered a shareholder, and has ownership of the company and decision making power respective to the amount of shares they hold.
In a simple example, if Beth holds 80% of the shares of a company, she owns 80% of the company and has the respective decision making power. If John holds 7% of the shares, he owns 7% of the company and has a much smaller say in the company than Beth.
The most common type of shares are Ordinary shares, meaning that there’s nothing special or different about the shares, and that they don’t come with special rights. For a company owned by one person, it’s typical to have between 1-100 Ordinary shares with between 1c and $1 paid per share and $0 unpaid.
What is your refund policy?
If you’d like to cancel your application and it hasn’t yet been lodged by us, we’ll refund your fees minus our administration fee of $44.85. If we have completed our service, we will be unable to offer a refund unless a mistake was made on our part.
How much does it cost?
Our company registration fee is $999 including GST.
Our fee includes professional review and lodgement of your application, as well as all government liaison. We also prepare all of your required legal documentation such as consents, the share registry, share certificates and opening minutes.
Can I choose any name?
Yes, within the guidelines. The name cannot be identical or too similar to a company or business name that has already been registered. Company names featuring made up names or foreign words often require manual approval by ASIC, which takes longer than the automated service.
I made a mistake in my application. What do I do?
Give us a call on 1300 587 203 or email firstname.lastname@example.org and we can amend your details for you. Please note that if your company has already been registered, extra fees may apply depending on the changes needed.
What information do I need to provide in my application?
Full name, full residential address, date and place of birth of the director(s) of the company.
Full name, full residential address and number of shares for each shareholder.
The address of the registered office and principal place of business.
As part of our process we also undertake an ID check for your protection and will need proof of identity.
Why do you do identity checks?
In recent years there has been some abuse and, in some cases, identity theft. To prevent your name and information being misused we confirm your identity and that it is you actually making the application.
What happens when my company has been registered?
Once we’re notified that your registration is complete with ASIC, we will immediately send you:
Your official certificate of registration and ACN issued by ASIC.
A comprehensive, customised and fully compliant corporate register and additional documentation.
Does my company need an ABN?
An ABN isn’t compulsory if the company is earning under $75,000 per annum, but it will simplify your dealings with the ATO and other businesses. Without an ABN, businesses buying your goods and services will have to withhold 49% of your purchase price and pay this directly to the ATO.
Your ACN identifies your company, however a company ABN identifies you to other businesses, the ATO and various government agencies. Your ABN is based on your ACN, with an additional two digits.
Does my company need a business name?
You will only need to register a business name if you plan to trade under a name different to the company name you registered in your application.
For example, if your company name is Smith Plumbing Pty Ltd and you plan to trade and advertise as Smith Plumbing Pty Ltd, you do not need a business name. However, if you wish to trade or advertise as Aussie Plumbing Services or any other name, you will need to register a business name.