When registering a company with ASIC, there are guidelines to be followed. The process takes a short time if you have all the required details and can be done purely online. It’s also not a must that you have a name for the company you wish to register; ASIC issues you with a special number called an ACN.
The ACN, or Australian Company Name, is a number ASIC automatically generates for you once your company is registered. You can use this number as the name of your newly registered company and change it later when you have all the required documents and the name you wish to give your company. The process comes at a cost though, and you should be prepared to be charged for it.
In the case the company name you present to ASIC is held by another company, you will be required to find a new one. In addition to having a unique name for the company you want to register, there are also certain words that you cannot use as, or in the name, you give your new company. ASIC has a list of these prohibited names, and it would be advisable to look at it first, so the words you use in your company name are appropriate.
Types of Companies to Register
The business you set up and that can be registered by ASIC can take many forms. It can be a sole trader, a charity, a company trustee for unit trusts fund or a self-managed fund. So long as it conforms to the registration rules of ASIC, you’re good to go.
Company Addresses When Registering With ASIC
ASIC doesn’t allow you to use the conventional post office addresses when registering a company. They issue you with new addresses upon registration.
According to Australian law, for a limited company to be registered by ASIC, it must have at least one director. A company is allowed to have foreign directors so long as one of them is a resident of Australia. When registering a company, ASIC will need you to provide the details of the director or directors which include their full names, birthplace and date and more.
When registering your company with ASIC, you will be required to provide details of the shareholders in the company; their names, addresses, and the number of shares they hold in the company. ASIC will also want to know the type of shares your company has issued.
How to go About it
To know more about company registration steps and start the process of registering your new company, you can visit the ASIC official web through this link http://asic.gov.au/for-business/registering-a-company/steps-to-register-a-company/
To know if your company name is eligible for registration, here is the link to visit https://connectonline.asic.gov.au/RegistrySearch
To start the process of registering a company, visit the ASIC site here http://www.alshelf.com.au/company-incorporation-services/
Once you have filled the necessary online forms, provided the required details, and paid the fees, ASIC will send you the registration certificate and the ACN number through email. The process is fairly easy and straightforward.Related Tags: How to Register a Company in Australia?