Can One Person Set Up A Company Without Partners Or Shareholders?

Are you planning to operate a small business on your own? There are two business structures that may be appropriate for a small outfit like yours: a single proprietorship (sole trader) or a registered company.

While you may consider setting up a single proprietorship, the Corporations Act of 2001 does allow you to set up a company with just one person to own and run everything.

If this is the way you want to go, then all you have to do is indicate your choice in the ASIC registration application as “a proprietary company with limited liability”. You will be both the sole shareholder and the sole director of your company. Thus, your type of company is legally referred to as a sole shareholder/director proprietary company.

You may wonder why anyone would choose to register as a sole proprietary company rather than as a single proprietorship. Well, there are some real advantages to being registered as a sole shareholder/director company. Some of the reasons people choose a company over a proprietorship are: Read More Here