[vc_row css_animation=”” row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern”][vc_column][vc_empty_space height=”15px”][vc_video link=”https://youtu.be/mmhPyLn6LNk”][/vc_column][/vc_row][vc_row css_animation=”” row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern”][vc_column][vc_empty_space height=”15px”][vc_column_text]
What is Company Incorporation?
One of the biggest decisions to make when starting a new business is what structure that business will take. Your choice of structure depends on the size and type of business and how you want to run it. The four main types are Sole Trader, Partnership, Trust, and Company.
An incorporated company, also known as a registered company, is a business that has gone through the incorporation process to become a separate legal entity run by its directors and owned by its shareholders. A company has the same rights as a natural person and can:
- acquire, hold, and sell property,
- enter into contracts,
- incur debt,
- employ people,
- sue and be sued.
In Australia, a company must be registered with the Australian Securities and Investment Commission (ASIC). The process is a little more complex than registering your business name or applying for an ABN. You will need to:
- Choose a company name (there are some rules around what you can and can’t use for a company name),
- each director will need to have/apply for a director ID,
- understand the different officeholder obligations (directors, secretary, members), and gain permission from those who will be an officeholder,
- figure out your internal governance – will you have a company constitution, use the Replaceable Rules from the Corporations Act 2001, or a combination of both,
- figure out the share structure,
- ensure that all the legal documentation and compliance documents are in order and ready to be sent off to ASIC.
These steps are not exhaustive. As you can see registering a company can be a lengthy process, so let us do all the legwork for you. To get started, fill out our online form (this will take around 15 minutes) and we will get the ball rolling.
[/vc_column_text][vc_empty_space height=”15px”][vc_empty_space height=”15px”][vc_column_text]Should you require any additional assistance please don’t hesitate to contact us.[/vc_column_text][vc_empty_space height=”20px”][vc_column_text]
[/vc_column_text][vc_empty_space height=”40px”][vc_separator type=”normal” color=”#bcbcbc” thickness=”4px”][vc_column_text]
Other Individual Tax Information & Articles:
[/vc_column_text][vc_separator type=”normal” color=”#bcbcbc” thickness=”4px”][vc_empty_space height=”20px”][/vc_column][/vc_row]