The benefits of setting up a business in Australia are numerous. With 26 years of consecutive positive growth, Australia has a stable economy. The business culture in Australia is well-regulated, and the political climate is stable.
Australia has a very hostile attitude toward foreign investors or businesses. Establish successful long-term business operations in these countries by learning how to register your business.
If you are thinking about how to register a company in Australia, this guide is perfect for you. You require ACNs (Australian Company Numbers) for businesses wishing to register in Australia. You can only get an Australian Business Name (ABN) only after receiving an ACN. When setting up your business structure, you must keep this in mind.
The Australian government makes registering your business easy with the use of the internet. You can receive your ACN, ABN and confirm your company name through the Business Registration Service. The Business Registration Service can process tax registration applications.
For Registering Business Names, You Can Use ASIC Connect
Australian Securities and Investments Commission (ASIC) is the market, corporate, financial, and consumer credit regulator of Australia. The Business Registration Service is not available separately from or beside the registration of your business name online with ASIC.
How To Register A Business Name/Company In Australia?
- Register the business name under the ‘Licences and Registrations’ tab on the top of the page by logging into ASIC Connect.
- You need an Australian Business Number (ABN) for the registration of a business name. Applying for an ABN online is possible. You mustn’t leave any space when entering your ABN.
- Please enter the proposed name of your business here. You should enter the business name you wish to be registered in the form exactly as you would like it to appear. The case of business names is essential.
- Register for a period. For one to three years, you can register a business. After the expiration date, you need to renew your license.
- A business owner’s information must be entered. Don’t forget to include the date of birth of the business owner.
- Enter the address where your business will be located. Your personal address should be allowed if you do not have a business address.
- Make sure that you can use the business name. Criminal offence or criminal involvement cannot be a part of the holder’s past or present. According to the Business Names Registration Act 2011, you should register business names.
- Look at your application carefully. When you have finished, make sure your application has no grammatical or spelling mistakes. You can finally apply after you have confirmed everything is fine.
- Confirm your transaction and make the payment. Once you are finished, pay for your application. It costs $479 to apply.
- An email is going to be sent after you make your payment confirming the submission of your application.
Private Service Providers Can Assist With Company Registration
If you want to register a private company, you must use a private service provider (PSP). A company that assists with the registration process could be an accountant, a solicitor, or another company. You will be charged based on who you choose to partner with for this work.
Local experts may cost a little more, but they protect you from delays and complications related to formation and registration. Establishing your business following this step will also keep you in compliance with local regulations.
An Application Process Based On Paper
ASIC will register your company for you directly if you file Form 201 – Application for registration as an Australian company and mail it to them.
The form should be filled out entirely in order to be signed if you are posting your application, including the application fee (use a check or money order).
Making Sure Your Business Is Registered And Completing The Registration Process
ASIC will give your company an ACN once the officials have approved your application; after that, you can apply for an ABN. You’ll receive the official company registration certificate once they’ve registered for your company. It is easier to register in Australia with an all-online process. To make the process more straightforward, you can even quickly get in touch with experts online.
Author Name:Alison Lurie