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How Do I Incorporate a Company in Australia?

A company structure is one of the most popular business structures in Australia. The fact that a company is a separate legal entity and has limited liability makes it an attractive option for business owners looking to grow their operations. However, company incorporation is relatively more complex than some other business structures (compared to sole traders and partnerships) and often requires more to comply with its legal obligations. This article details the process of how to incorperate a company.

Our Company Registration package includes the following:

  • DSC for one director and DIN for up to three directors
  • Drafting of MoA & AoA
  • Registration fees and stamp duty
  • Company Incorporation Certificate
Registration of a Company

Setting up a company is a complex process. The Australian Securities and Investment Commission (ASIC) oversees and regulates the company incorporation process. To set up a company, you must:

  • Determine the type of company you wish to incorporate
  • decide on an appropriate structure for internal governance
  • obtain the consent of each proposed director and a secretary
  • choose and reserve a name for the new company
  • locate an address for the company’s registered office
  • locate a principal place of business
  • settle on a share structure and members
  • make an application to ASIC and pay a registration fee
  • receive a certificate of registration

Type of Company

The kind of company that you wish to incorporate affects the documents you need to include in your application for registration. If you wish to set up a company limited by shares or an unlimited company, you will need to include information about:

  • what class of shares each member has agreed to take up
  • the amount they will pay
  • whether they will pay fully upon registration
  • if they will beneficially own the shares

Internal Governance

Most companies require an internal governance structure for company incorporation. The exception is a proprietary (private) company with a single shareholder and director. For these companies, the Corporations Act (the Act) prescribes rules which are non-negotiable.

  • procedures for meetings of directors and members
  • share transfers
  • the appointment and removal of directors

  • Directors and Secretary

    Every person who applies to register a company must have the written consent of all proposed directors to act in that role and, if necessary, that of a company secretary. An individual does not need to give these to ASIC when they register their company. However, they should keep them with their other records after company incorporation.

  • Business Name

    An individual can choose a name for their corporation. If they do, they need to reserve the name and then register it. ASIC manages both processes. Alternatively, a company can use the Australian Company Number issued to it by ASIC.

  • Shareholders Agreement

    All companies with more than one shareholder need a shareholders agreement. This is an agreement between two or more shareholders on their roles and responsibilities.

  • Registration

    To complete company incorporation, an individual needs to complete Form 201 and pay the prescribed fee. The form is available online. Once ASIC has registered a company, they send a Certificate of Registration to the company’s registered office. The Certificate must be visible in the company’s principal place of business.

  • Minute Book

    A company’s minute book records proceedings of meetings of directors and members. It also records any resolutions made during such meetings.

  • Documents To Be Submitted

    • Lease documents/agreement in case of premises are on lease
    • ID Proof
    • Occupancy Certificate
    • Address Proof
    • Cancelled Cheque
    • Certificate of Incorporation
    • PAN of Entity

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TaxFillingIndia: Legal Information for Indian businesses

Since 2011, ​TaxFillingIndia has been a one-stop solution for any business or entrepreneur looking for a lawyer, chartered accountant or company secretary. We have been particularly instrumental in ensuring startups are fully compliant with India's labyrinthine legal system. Over the past five years, the depth of our offerings, connection with reliable professionals, affordable prices and customer satisfaction has made us the largest online facilitator of legal services in India. We have already served over 120,000 customers and have a steadily growing network of over 1000 professionals from all the major cities (particularly the metros of Mumbai, Bangalore, Chennai, Delhi and Kolkata) on our online platform. In 2016, we launched way of working for legal professionals across India.

Starting a Business

Many founders are confused about what kind of entity to register when they start their business. Should it be a private limited company, limited liability partnership, partnership firm, one person company or a sole proprietorship. Each of these has very specific advantages and disadvantages. There is no one type for all businesses. A private limited company registration, for example, would be a good fit for any venture that will look for funding at a later stage. You can contact TaxFillingIndia for all the advice you need. We assure you of great service at a reasonable price. You can find a company name availability here.

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In modern business, there is no other asset as valuable as intellectual property, and yet so many startups end up neglecting it. But this is surely not advisable, as trademarks, copyrights and patents ensure that you have sole rights to your creation, be it your brand, your designs or your inventions. At TaxFillingIndia, we are well equipped to handle all your IP requirements. We facilitate trademark applications in just three days, copyright registration for all your software, pictures, audio and video content, and can connect you to patent attorneys to conduct a patent search and file your patent applications. You can find a Trademark availability here.

Government Registrations

In India, you need a license for everything in business. Started a manufacturing business? You need a GST Registration and a Trade License. For a food business, you need an FSSAI license. Have employees? You need a Professional Tax registration and Shops & Establishments Act Registration. If that's not enough, you also need to file GST Returns and Professional Tax Returns.

Legal Documentation

The worst way to approach business is to just get into new partnerships and arenas without examining consequences. By getting a lawyer to draft contracts or agreements with new vendors, employees and investors, you're ensuring that you have all the downsides covered. At TaxFillingIndia, we connect you to lawyers who will deliver complex documents, from shareholders' agreements and founders' agreements to terms of service/privacy policy and non-disclosure agreements, at a reasonable cost in a few days' time. Well-known startups, such as Holachef and Big Basket, have chosen to connect with a lawyer through us for their documentation work.

Mandatory Compliance

It's not enough to have started a private limited company or an LLP. You need to comply with all the requirements of the Ministry of Corporate Affairs and Income Tax Act once you do. You need to inform them of every relevant change you make, whether it is adding a director, removing a partner or increasing authorised share capital. You also need to file annual returns and maintain your accounts. In the case of a private limited company, you even need them audited. At TaxFillingIndia, we facilitate all these services completely online. Which means you can engage a professional on retainer for the year and we'll ensure that all the formalities are completed for you while you focus on your business.

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