If you want to register a company in Australia, you can register it directly with ASIC or register through an ASIC Registered Agent. Before deciding on how to register a company, know the basic things about the company and the ways to register it.
Characteristics of a company:
The general characteristics of a company are:
- it is a corporate body created by law
- it can sue and be sued in its own right
- it has perpetual succession (i.e. it continues even if its members die or resign).
- it has officeholders (director(s), secretary(ies))
- it has a registered office
- it has member(s)
Who can register an australian company?
Anybody can register an Australian company, provided they comply with the provisions of the Corporation Act.
To form a Proprietary Limited Company, you need at least:
- one resident director,
- one shareholder, and
- a physical Australian address for the registered office of the company.
Is appointing secretary mandatory?
Appointment of secretary is optional for private Australian companies. If they appoint one, should be resident of Australia.
Why should one register a Company?
The reasons why people opt to form a company are as below -
- Separate legal entity: The company would be held liable for payment of its debts unless the shareholders or the directors of the company have provided a personal guarantee for any transaction.
- Perpetual succession: A company also possess perpetual succession which means that the life of the company does not depend upon the life of its members. It shall continue forever irrespective of continuity of its members or directors except in case of winding up or liquidation of a company.
- Limited liability: If the company is a limited liability company, the shareholders' liability, should the company fail, is limited to the amount, if any, remaining unpaid on the shares held by them.
- Only the company can be sued for its obligations and can sue to enforce its rights.
- A company can carry on its business activities throughout Australia without the requirement to register another time in individual States and Territory jurisdictions.
- Asset protection.
- Corporate tax structure.
- Protection of business name.
How to register a Company?
You can register a company fast and easily on the website link provided on this website. They are ASIC registered agent and help to register Proprietary Company limited by shares with ASIC. Their website is used by many Accountants and Legal professionals across Australia. It is one of the trusted website in Australia for company registration.
The company registration process on their website is very easy and simple. You are just required to answer simple structured questions in the application. They have direct connectivity with ASIC for registration of company. You can register a proprietary limited company on their website 24/7. The whole registration process usually does not take more than 20 minutes - It’s easy, simple, fast and efficient.