COMPANIES (from $650)

New CompaniesRegister New Company Australia

• All new companies are registered and regulated with the Australian Securities & Investments Commission (ASIC).

• Companies are legal entities which are governed by the Corporations Act 2001.

• Legal entities are separate from their officers and shareholders.

• You can have your own choice of name, or use one of ours.

• Companies may have their own set of rules which are outlined in a Constitution.

• Our comprehensive Constitution is drawn up and periodically updated by our solicitors who specialise in the area of Commercial Law. If companies do not have their own Constitution, they rely on the “replaceable rules” of the Corporations Act, 2001.

• In Australia, there are two main types of companies. Proprietary (private) and public companies. The most common type being the proprietary company which often is indicated by the “Pty” at the end of the company’s name.

• The main benefit of registering a company as opposed to a business name, is that members have limited liability towards debts.

• Directors are ultimately responsible for the company in general, including the day to day running, as well as obligatory requirements with the Corporations Act 2001.

• A person cannot be a director of a company if:-

1. he/she is an undischarged bankrupt
2. he/she has been convicted of an offence
3. he/she is under the age of 18 years

 

ASIC Requirements

Australian companies have obligations that must be met. If there are changes to directors, secretaries, registered addresses, business addresses, shareholders, etc., ASIC must be notified about these changes.

 

ASIC Forms

Depending on what changes, etc. are to be made, there are a number of forms available.

 

Annual Statements

Australian companies must complete Annual Statements and pay an Annual Review fees. This must be done within 2 weeks after a company’s annual review date which is usually the date of registration. ASIC sends out statements of company details which display details about the company which needs to be confirmed or updated, as necessary.

 

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