When starting a new business in Australia, you can choose to have any one of the below structures:
- Sole trader
- Partnership firm
Registering a company is a lengthy process. You can get it done via two ways:
- Reach out to any private experts like Crown biz. We have access to ASIC’s system. We can apply on your behalf and keep a track of your application.
- Submit the form directly with ASIC. As you are starting the business, doing this yourself can cost a lot of time and efforts. Also, if any documents are missing, the process can take much longer.
When registering the company, there are many aspects to be looked upon, like:
- Decide if it will be limited or unlimited liability.
- Will the company operations be based on replaceable rules or constitution?
- Select appropriate company name.
- Choose the state where you want the company to be registered.
- Are majority shares of the new company owned by another parent company?
- Decide who has the main titles like Director, secretary etc.
Some of these need acumen and deep understanding of company and tax laws. This comes only with experience. Thus having a right partner in the process of company formation can make a lot of difference to the game.