When registering a company in Australia, you need to consider the following:
Things to note when registering a company in Australia
1. Australian Company Registration – Choose Company Type
The most common type of company is a limited liability company (Pty Ltd), which provides liability protection and facilitates tax planning.
2. Australian Company Registration – Name selection
The company name must be unique and cannot be the same or too similar to an already registered company.
3. Australian Company Registration – Registered Address
A company must have a physical address in Australia for registration purposes.
4. Australian Company Registration – Directors and shareholders
At least one director and one shareholder are required, and the director must be an Australian resident.
5. Australian Company Registration – Share capital structure
Determine the company's capital structure, including the number of shares and the value of each share.
6. Australian Company Registration – Comply with regulations
Understand and comply with the Company Law and other relevant laws and regulations.
7. Australian Company Registration – ABN and TFN
Apply for an Australian Business Number (ABN) and Tax File Number (TFN).
8. Australian Company Registration – GST Registration
If your expected turnover exceeds a prescribed threshold, you will need to register for Goods and Services Tax (GST).
9. Australian Company Registration – Internal Governance
Prepare a company constitution or adopt alternative rules from the Australian Securities and Investments Commission (ASIC).
10. Australian Company Registration – Annual obligations
Understand and fulfill annual reporting and audit requirements.
It is recommended that you consult with legal and financial advisors before registering a company to ensure that you understand all responsibilities and compliance requirements.
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