FAQs
Who can register a company in Australia?
Anyone is eligible to register a Pty Ltd company in Australia. You must have at least one director that resides in Australia and a physical Australian address (not a PO box) for the registered office of the company.
If none of the directors reside in or are eligible to work in Australia, you will be able to register a company and you can engage us to provide you with a resident director. You will not be able to trade without a resident director.
Who is a resident director?
A resident director in Australia is a natural person and at least 18 years old. Provided that there is at least one local director, the company may appoint one or several foreign directors.
All directors who are Australian residents or non-residents must complete declarations to state they are eligible to be a director of an Australian company.
I don’t have a resident director, how can I find a resident director?
Contact us at info@cslb-australia.com and we can chat with you about how we can support you and provide a resident director.
How long will it take to register my company?
When you sending us proof of identity documents, we can begin the registration process. Most applications are registered in one day, many within an hour or two. However, it will depend on a few factors; your application is flagged for a manual review because it includes queries relating to the business name you have chosen, a foreign director or shareholder, or providing incorrect details in your application. Once your company is officially registered with ASIC, we will send all certification and company documentation ASAP.
If your application is flagged for manual review by ASIC usually take an additional 15-60 minutes to be registered if submitted during business hours. If your application is submitted outside of business hours and requires review, it will be processed the following business day. In some cases, a hard copy of your application will need to be submitted with ASIC
Can I choose any business name?
Yes, there are guidelines to consider when choosing a business name such as:
is not identical or nearly identical to a name that is already registered to someone else;
is not undesirable for registration, and
does not include any restricted words or expressions.
There are also restrictions on certain words and language and other pitfalls if your chosen name is too similar to a trademark.
Company names featuring made-up names or foreign words often require manual approval by ASIC, which takes longer than the automated service.
Additionally, if you want to trade under a different name to the company registered name, you will need to register a business trading name.
What do I need to register my company?
Full name, full residential address, date and place of birth of the director(s) of the company.
Full name, full residential address and number of shares for each shareholder.
The address of the registered office and principal place of business.
To onboard you with us, we undertake an ID check for your protection and will need proof of identity.
Why do you do identity checks?
Information about customers/clients, agents, connected parties, beneficial owners and politically exposed persons are all necessary to do business in Australia. Also, we need to ensure there has not been identity theft. To prevent your name and information from being misused.
When will I receive my ASIC corporate key?
You’ll receive your corporate key within 3-5 business days by mail to your registered office address. Unfortunately, you cannot receive it over the phone or online.
Can I form a company on my own?
Yes, a Pty Ltd company can be formed with one person. That person will be both the director and shareholder of the company.
I don’t understand the part about shares. What does it mean?
All companies must issue shares as a way of giving ownership of the company to one or more people. Anyone issued shares in the company are the owners of the company. Owners of the company are considered a shareholder and have the right to make decisions based on the number of shares they hold.
Generally, shares issued are “Ordinary” shares, meaning that the rights of the shareholder are general rights and nothing special. However, in some cases, you may need to issue different types of shares that have come with special rights and we can help with preparing those documents to create those shares.
It is typical to have between 1-100 Ordinary shares with between 1c and $1 paid per share and $0 unpaid.
What do you fees cover?
Our fee includes professional review and lodgement of your application, as well as all government liaison. We also prepare all of your required legal documentation such as consents, the share registry, share certificates and opening minutes.
How much does it cost to register a company?
Incorporating an Australian Pty Limited company can be done relatively quickly and cheaply. The cost under AU$1,000 in set-up fees. However, additional fees apply if you need a resident director.
How can fix a mistake in my application or make changes to my company?
Email us at info@cslb-australia.com we can correct mistakes or make any changes you require to your company. *Fees will apply*
Does my company need an ABN?
We consider it important to have an ABN as it simplifies your dealings with the Banks, Customers and the ATO. However, it is not compulsory if the company is earning under $75,000 per annum. Without an ABN, businesses buying your goods and services will have to withhold 49% of your purchase price and pay this directly to the ATO.
What is an ACN?
Your ACN identifies your company, however a company ABN identifies you to other businesses, the ATO and various government agencies. Your ABN is based on your ACN, with an additional two digits.