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9.How to register a Proprietary Company in Australia?
Setting up a Proprietary company in Australia seems to be a big task especially if you are forming a company for the first time. There are several questions popping up in your mind. Forming a company has several advantages than trading as an individual or partnership. Some of the benefits for forming a company are - limited liability for members, tax structure and separate legal identity of the company.

What are the steps to register a company?

The steps for registration of company are highlighted below:

Step 1: Determine the type of company to be formed.

First step for registering a company is to determine the type of company that you would like to register, whether to register a proprietary (private) company or public company. Understand the requirements and obligations attached to each type of company.

A proprietary company must have at least one director, but need not have a secretary. The director and secretary (if any), must ordinarily reside in Australia.

A public company must have at least three directors and at least one secretary. At least two of the directors and one secretary must ordinarily reside in Australia.

Step 2: Choose a Company Name

After you decide the type of company to be formed, you will have to decide the company name. You should choose a company name that is not similar to already registered company or business name.

While deciding company name you will have to keep in mind certain words and phrases which cannot be used in company name or can be used be only with approval of minister or government agency. ASIC may also refuse to register certain names if they are offensive or suggest illegal activity.

A company name must indicate the company’s legal elements and liability of its members. For example, a proprietary company must include the word ‘Proprietary’ or the abbreviation ‘Pty’ in its name and also indicate the liability of its members in its name. For example, when the liability is limited, the company name must end with the word ‘Limited’ or the abbreviation ‘Ltd’.

However, it is not necessary to give a company a name. You can choose that the name of the company on registration be its Australian Company Number (ACN). So, if you want the ACN to be the company’s name, while filing the company registration application, you do not need to nominate a name and ASIC will allocate the ACN as the company name.

You can even reserve company name if you are not yet ready to register the company and want to make sure the name is still available when you make application for registration of company.

Step 3: Decide if the company will be operated under the replaceable rules or a constitution or a combination of both.

Before you lodge an application to register a company you must decide how the company will be internally managed. You will have to decide if the company is going to be operated under:

• The replaceable rules in the Act (not applicable for sole director/member proprietary companies as special rules apply);
• Its own constitution;
• A combination of both.

Step 4: Obtain necessary consents before registering a company.

Before making an application to register a company, you must get necessary consent from Director and Secretary before appointing them for the said position. If the company does not occupy the premises where its registered office is located, the occupier of the premises must agree in writing to having the company’s registered office located there. In such case, consent of the occupier is required to allow company to use its premises.

Step 5: Complete and lodge your Application Form

You will have to complete the Application form and lodge it with ASIC.

The details you will need to provide in Company Application are as mentioned below:

• The proposed company name
• Type of company
• Address of Registered Office & Principal place of business
• Details of Ultimate Holding Company
• Details of Director(s) and secretary
• Share structure details; and
• Members’ share details

Step 6: Certificate of Registration

After lodging application for registration of company, ASIC may approve or reject it. If the ASIC approves the application, you will receive the Certificate of Registration.

How to register a company hassle free?

We are an ASIC registered agent and have direct connectivity with ASIC for registration of company. You can register a proprietary limited company 24/7 on our website.

The procedure for registration of company on our website is very simple, fast and cost effective. Once you have registered your company, you get all incorporation documents such as minutes and consent letters, constitution, registers, share certificates along with certificate of registration by email. You can download these documents anytime anywhere from your secured page on our website by logging in with your user name and password. Our experienced and professional staffs are available to answer your questions and assist you.
 
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