Proprietary Company Requirements
Proprietary companies, commonly known as Pty Ltd companies, are one of the most used structures for a business. To qualify as a proprietary company, specific
The short answer is yes! Businesses may choose to change their company type as they grow, shift their purpose, or amend their governance needs.
In order to change to a different type of company, you must pass a special resolution resolving to change the company type and comply with sections 163 and 164 of the Corporations Act 2001 (Cth) (“Corporations Act”).
Some company types have restrictions on what they can transition to. Below are some examples of available company types that companies can change to under the Corporations Act.
Types of company changes available:
A proprietary company limited by shares may only convert to:
An unlimited proprietary company may convert to:
A public company limited by shares may convert to:
This process is regulated by the Australian Securities and Investments Commission (“ASIC”) and currently costs $98. To complete this process you must lodge 2 forms with ASIC; Form 205 – Notification of Resolution, and Form 206 – Application for change of company type.
If you have any questions about changing your company type, please contact us.
Proprietary companies, commonly known as Pty Ltd companies, are one of the most used structures for a business. To qualify as a proprietary company, specific
If you are thinking about starting a business in Australia, one of the first decisions you’ll need to make is the structure. Understanding the types
To change an entity’s company type, there are three steps you must complete in accordance with sections 162 and 162 of the Corporations Act 2001
The short answer is yes! Businesses may choose to change their company type as they grow, shift their purpose, or amend their governance needs. In
Registering your company is simple. To register your company, you will need to provide specific details about your new company when lodging your application. This
Level 14, 4-6 Bligh Street,
Sydney NSW 2000
ABN 20 122 434 584