Frequently Asked Questions (FAQs)

Have a question that needs answering? Check our list of FAQs below

Starting a Company/Registration Process

The cost of registering a company depends on which of our plans you select. However, all of our plans are inclusive of the $576 ASIC fee. Please review our pricing page for a full breakdown of the different options.

If you select one of our DIY options, the company registration application generally takes 10-20 minutes to complete. Providing there are no issues with your application, the company will usually be registered within a few minutes of submission.

If you select our Guided option, the process may take up to 2 business days to complete.

Before you begin your registration application, ensure you have the following information readily available:

  • A company name;
  • A registered office address (this must be a physical street address, not a PO box, as ASIC will send specific notices and on occasion deliver service documents in person);
  • Place of business addressed (this must be a physical street address and is often the same as the registered office address);
  • Director and/or Secretary details (full name, residential address, date and place of birth is required. One director must reside within Australia); and
  • Shareholder details (full name and/or name of company, residential address and share distribution).

Once you’ve submitted your company application, you will receive an email from Sophie Grace. If all information has been entered correctly, your company will be registered on the same business day. We will email you afterwards with all of the company documentation including your Company Registration Certificate.

If there is an issue with some of the information included in your application, we will contact you to rectify the issue and assist you with resubmitting.

Signing forms

Once you have received the legal documentation issued with your company registration from the Corporate Manager (emailed through in PDF form), it is important that you have the consent forms, shareholder applications and directors minutes signed as appropriate. These forms do not need to be submitted to ASIC; they are to be filed with your company records.

Distributing share certificates

Shareholders must be issued with their share certificates once the company has been registered. A copy of these should remain with the company records as well.

Maintenance

It is crucial to maintain an updated register of all company documentation, including signed director’s minutes from meetings, any changes to share distribution etc. ASIC will require this information to be presented when conducting a company audit.

Once you receive your registration confirmation email, you can start trading immediately.

During the online application you will be asked to select a state or territory in which your company will be registered. This refers to the legal jurisdiction within which your company will function. You must observe the legislation, regulations and legal principles of the state.

Often the biggest consideration for companies is the jurisdictional difference in stamp duty payable on share transfers. However, the company does have legal capacity and powers in and outside this jurisdiction. 

If you require further information on which state to register your company, please contact us directly.

The ASIC Corporate Key is an 8-digit code that enables you to view your company records, update company information, lodge forms and receive annual statements online.

ASIC automatically generates a corporate key for each company and this is posted to the registered office address within 10 days of company registration.

If you don’t receive your corporate key within 10 days, you can:

  • Call ASIC on 1300 300 630;
  • Request a corporate key online ; or
  • If you have an ASIC Connect Account. log in and request your corporate key

An Australian Company Number (ACN) is generated upon company registration and is a unique 9-digit primary identifier for the new entity.

It is important to note, you cannot alter your ACN number but you can change your company name. An ACN is only issued to new companies and allows ASIC to monitor and administer your company. 

During the online application you will be asked to select a state or territory in which your company will be registered. This refers to the legal jurisdiction within which your company will function. You must observe the legislation, regulations and legal principles of the state.

Often the biggest consideration for companies is the jurisdictional difference in stamp duty payable on share transfers. However, the company does have legal capacity and powers in and outside this jurisdiction. 

If you require further information on which state to register your company, please contact us directly.

No, if you want to start a company you will need to apply for a new ABN as the company is a separate entity.

The role of Director is an essential appointment for an Australia proprietary company. To be eligible to assume this position, an individual must meet the following criteria:

  • Be at least 18 years of age; 
  • Not be an undischarged bankrupt;
  • Not be subject to an unresolved personal insolvency agreement;
  • Have not been convicted of an offence under company law, such as fraud or breach of duty within 5 years of the new appointment; and
  • If imprisoned for an above offence, must not accept the appointment within 5 years of release from prison.

Please note you are required to have at least ONE director who resides in Australia.

Yes, if you haven’t settled on an office address at this stage then you can use your residential address to register your company. You must use a physical street address, not a PO Box. 

Once you have confirmed an office address, let ASIC know as soon as possible. To do so you will need to lodge a Form 484 online detailing the change of address. It is important that you do not delay this process. This is no fee attached to lodging this form, however if you fail to advise ASIC of the address change within one month you will encounter a late fee.

ASIC sets out three requirements for the nomination of a company’s registered office address:

  1. The company must be able to receive correspondence at this address;
  2. It must be a physical stress address, i.e. it cannot be a PO Box;
  3. If the company does not occupy the premises it must have the written consent of the occupier.

A company’s principal place of business is an address where it primarily carries out business activities. It must also be a physical street address.

Once you’ve submitted your company application, you will receive an email from The Corporate Manager. If all information has been entered correctly, your company will be registered on the same business day. We will email you afterwards with all of the company documentation including your Company Registration Certificate.

If there is an issue with some of the information included in your application, we will contact you to rectify the issue and assist you with resubmitting.

To register a company, you do not need to have your Director ID, but you MUST have applied for it. Read more.

Business/Company Name

Yes, an entity (individual or company) can register several business names using the same ABN. You must register any business name you intend to trade under to avoid penalties. It is an offence under section 18 of the Business Names Registration Act 2011 (Cth) to carry on a business under an unregistered business name. Failure to adhere to this provision will result in a penalty of 30 penalty units.

Yes, if you have already registered your company and need to change your name you will need to submit a Form 205 to ASIC. This can be done online using your ASIC Officeholder account.

Business Names

Business names must be registered with ASIC and are names under which entities can carry out their business activities. The ABR maintains a record of business names, including the identity of those who hold the business name.

Company Names

This is the name under which you register your business as. In some cases, an entity’s company name can be its ACN.

If you intend to trade under your company name without the legal element (Pty Ltd) then the name must be registered as a business name.

* Registration of a company name does not entitle you to use of the business name variation.

If you intend to trade under a name that differs from your registered company name, then you will also need to register a separate business name.

ASIC has restricted the use of certain words and phrases, in company names. Names that include the following will not be registered or may be marked for manual review by ASIC.

  • A name that is undesirable or likely to be offensive;
  • Any word that includes ‘Commonwealth’, ‘Federal’, ‘Crown’ or ‘Government’;
  • Words that are misleading such as ‘University’, ‘Trust’, or ‘Chartered’ or similar;
  • Names that are identical to an existing business name; or 
  • Names or words that are not on ASCOT or the Macquarie dictionary.

You can check the availability of a business name on ASIC’s website.

When registering an Australian proprietary company limited by shares (Pty Ltd) you are presented with many options as to the legal element (ending/suffix) which you can select.

These elements are legally identical. Therefore, the choice as to which one to register is purely a matter of style and preference. The different endings and suffixes available include:

  • Pty Ltd
  • Pty. Ltd.
  • Pty.Ltd
  • Pty Ltd.
  • Pty Limited
  • Pty. Limited
  • Proprietary Ltd
  • Proprietary Ltd.
  • Proprietary Limited

You can reserve a company name by lodging a Form 410A – Application for Reservation of a Name directly with ASIC. It is possible to extend the reservation by lodging a new request at a fee. ASIC generally only permits two extensions to reservations.

Updating your Details

If your company is registered, any amendments to company details must be made through ASIC.

To do this, you will need your ASIC Corporate Key to create an account with access to the officeholders portal. The corporate key will be posted to your registered office address within 10 days of company registration.

If your application is rejected, you can access your application via your The Corporate Manager account to update your information.

The Corporate Manager will highlight information in the application that needs attention. Once you’ve updated your details and reviewed your application, you can submit the application again. The amended company details are resubmitted to ASIC.

Yes. Once you have received confirmation from ASIC that your change of company name has been approved and is active, we can provide you with updated documentation. 

Simply email through an official ASIC reference (for example: the letter or email of confirmation) to sophie@sophiegrace.com.au and we will make the necessary adjustments to your documentation and send this through to you by email.

Yes, if you have already registered your company and need to change your name you will need to submit a Form 205 to ASIC. This can be done online using your ASIC Officeholder account.

Yes it is possible to appoint or remove officeholders and shareholders after company registration, however you must directly notify ASIC of any changes within 28 days of the appointment or removal. There is a specific process that you must follow to lodge these updates with ASIC. First, you must use the company’s corporate key (an 8-digit number generated by ASIC within 10 days of company registration and posted to the company’s registered office address) to create an ASIC Officeholders account. Please visit ASIC’s website to set up this account.

From within that account you will need to submit an electronic form 484 to appoint/remove officeholders and shareholders.

If you require assistance to navigate this account, please contact ASIC’s customer service team on 1300 300 630. Alternatively, you can contact us directly for further information on our Registered Agent Services. 

Fees and Costs

The cost of registering a company depends on which of our plans you select. However, all of our plans are inclusive of the $576 ASIC fee. Please review our pricing page for a full breakdown of the different options.

Each year ASIC will conduct an annual review of your company. Your review date is usually the anniversary of your company’s registration.

Within a few days of this date, ASIC will send out an annual statement for you to review along with an invoice for the annual fee. Currently this is set at $310 for most proprietary companies. Failure to pay the annual fee by the due date will result in a late fee between $93.00 to $387.00.

The Corporate Manager, as registered agents, can make lodgements to ASIC registers on behalf of your company. We provide this service for 12 months initially with the possibility to extend the engagement after. Please contact us for further information on this service.