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
Section 114 sets out the minimum structure requirements for proprietary companies. That is, the company must have:
Section 113 restricts a proprietary company to have more than 50 non-employee shareholders, however employee shareholders (current or former employees who became shareholders during the course of their employment) are excluded from this count. Joint shareholders are treated as one (1) shareholder under this requirement.
Proprietary companies are restricted from raising funds from the public. Proprietary companies must not engage in activities that require disclosure to investors (e.g. issuing shares to the public), except in limited circumstances as to:
If you have any questions about your business structure or are looking to register a new proprietary company, 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