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How To Start A Company In Australia
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Starting a company is never easy and the processes can be very lengthy, time consuming and confusing as well for a fresher. With the number of criteria constantly piling up, it becomes extremely stressful. So it is best to objectify the scenario one by one and taking things slow. Firstly, you should really think and decide whether a business or company structure really is what you are looking for and if it suits you.
Also, registering for a business name does not mean the same thing as registering for a company, the business name here does not create a legal identity. While deciding upon the name you should show its legal status. For example, adding ‘Pty’ if it is a proprietary. If the liability of members is limited, the term ‘Limited’ must be added at the end. Plus you can only choose a name that has not already been registered and do go through the list of certain names that cannot be used, like university etc.
You can also reserve your name if you do not want others to take before your registration is complete. Then you have to see how the company will be internally operated and it will need its own constitution if not the replaceable rules. Special rules for members of a proprietary and a share structure need to be read through.
You should have a clear idea about your obligations and you must comply with the rules. For example, keep company details updated, pay appropriate fees, maintain records etc. the officeholder is main person responsible for all this. Then a written consent needs to be provided from people agreeing to occupy the roles of a director who needs to be residing in Australia, a secretary though it is not compulsory to have one and a member.
A record of the consents must always be kept. You can register through a number of service providers who are easily available. The company will be registered when the correct fee has been paid and the completed application has been received. A certificate of registration and a unique eight-digit number associated with your company’s corporate key will be issued.
The company name should be displayed wherever business is carried out and you will also have to apply for an ‘ABN’. Plus, you can also order for a commemorative record of the registration if you would like one. In a summation, this is what you basically need to do but it is always advisory to take proper information before taking any step. Forming a company is a great achievement and help is always available.
Caution should be taken to avoid misinterpreting any information and contacting the right people who can help you out.
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