Company registration in Australia is handled by the Australian Securities and Investments Commission (ASIC)
which is a Federal Government body established by the Australian Securities and Investments Commission Act (2001)
To register a company, an applicant needs to fill out a Form 201 and pay the application fee, which is currently $469 for most companies. Once ASIC has approved the registration, an ACN will be issued and the name approved. A company constitution is not mandatory for companies, and in the absence of a constitution the company will be governed by the replaceable rules of the Corporations Act (2001).
There are online company registration companies that will guide you through the incorporation process and create a constitution for your company. It is important to understand that a constitution will not bind a company that has a sole director who is also the sole shareholder, and so it may not be necessary.
Online company registration companies interface directly with ASIC so that your company will usually be registered in 15 minutes. If you submit the paper form, it can take up to 28 days.
Upon registration, a company becomes a separate legal entity which means it can be sued or prosecuted separately from its owners or directors. That said, the directors of a company have a responsibility to act in good faith.
Read more about company directors duties, or contact us to arrange a consult to discuss your company registration.
Company Registration just $550
Register your company for just $550 including ASIC fees.
How to Register a Company
To register a company, it is recommended that the incorporators (i.e. those forming the company) work through the following steps to ensure compliance with the Corporations Act (2001) and ensure the company is setup according to the wishes of the incorporates.
- Hold a meeting with your fellow shareholders to determine the companies aims, objectives and characteristics.
- If a constitution is necessary, then it should be drafted first. If you are going to rely on the replaceable rules, then no constitution will be required.
- Prepare Form 201 and distribute it to the directors for their review.
- Prepare the consents to act as a director and have all directors sign to agree to their appointment.
- Hold a meeting to sign the constitution (if applicable); and the Form 201.
- Collect the amount paid on the shares from the proposed members.
- Send the Form 201 to ASIC.
Once these steps have been undertaken, a certificate of registration will be issued by ASIC.