When you are setting up a business, a question that usually haunts is whether to form a company or not? Well, it actually depends upon your business structure and type of your business. We recommend you to seek professional advice from your accountant, solicitor or financial adviser.
However, there are several benefits for setting up a company that you should consider before deciding the business structure, such as –
- A company has a distinct legal entity separate from its shareholders or officers.
- The liability of shareholders is limited.
- Ownership of shares can be easily transferred by selling shares to another party.
- Company can trade anywhere in Australia.
- Corporate taxation rates are usually more favourable.
What are the steps to start a company in Australia?
The steps involved in starting a company are as follows:
- First, you will have to decide if a company structure is right for your business needs.
- Choose a company name.
- Decide how you want your company to operate – under constitution or replaceable rules.
- Understand your legal obligations as an officeholder.
- Get the required consent before setting up a company.
- Register your company either directly with ASIC or using the services of ASIC registered agent and
- Understand your legal obligations regarding your company name, Australian Company Number (ACN) and Australian Business Number (ABN).
Why to use services of ASIC Registered Agent for registering Company online in Australia?
You can choose to register a company directly with ASIC or use the services of ASIC registered agent. The process for registering company directly with ASIC is tricky and if you are registering company for the first time you might require some help or assistance in your application. You would not get any incorporation documents from ASIC apart from ACN and certificate of registration.
So, if you are looking for something more, the best way is to form a company online through ASIC Registered agent.
There are several benefits for using the services of registered agents such as –
- Registered agents have expertise in company registration process as they register several companies in a day. So they are aware about the ASIC requirements and can help you in case you go wrong.
- The company registration application on their website is very easy, simple and fast.
- Registered agents are directly linked to ASIC and you can lodge documents with ASIC by using registered agent’s online services from anywhere anytime 24/7.
- When companies are registered through registered agents, they often provide all the registration documents which are compliant with the Corporations Act.
Which Registered Agent to choose?
There are several ASIC registered agents in the market. You have to be careful in selecting one of them. To make it easy for you, we have provided a link of ASIC registered agent whose website is used by several accountants & legal professionals. Their website is very user friendly and simple. The entire process does not take more than 20 minutes and you can register company any day any time 24/7. When you register company using their services, you will get all the instantly generated company incorporation documents which includes Certificate of registration, minutes, constitution, registers, consents and share certificates. You can check whether your company’s proposed name is available or not on their website. You can make payment by credit cards as well. You get support from professional staff on phone or online chat to answer your queries. Their FAQs section will remove your major doubts regarding to online company formation process, rules, payments and documents. Your documents are stored on their website and you can view and download them anytime anywhere using your secure ID & Password.