At Navado we are able to assist you with establishing your company.
A company is a distinct entity, able to be prosecuted, sue others or be sued. A company is also able to acquire and dispose of assets and liabilities.
A company must be incorporated under the Corporations Act as either a proprietary company (limited by shares or unlimited with share capital) or a public company (limited by shares or guarantee, unlimited with share capital or a no liability company). A proprietary company is limited to 50 non-employee shareholders and are less regulated than public companies. They are normally used for the purposes of operating smaller businesses.
The first step in registering a company is selecting a business name and going through the process of registration. Registration or the use of a business name does not create a legal entity, or allow the use of privileges to which a company is entitled, such as a corporate tax rate or limited liability. This will occur once the company is registered.
Prior to registering your company you will need to decide how the company will be internally governed. Internal governance of your company will either be under replaceable rules found in the legislation, its own constitution that has been drafted or a combination of both. A proprietary company cannot be governed by replaceable rules if there is only a single director and member.
Before applying to register a company you must obtain written consent from people who agree to accept the following positions:
- Secretary; and a
- Member (every company must have at least one member).
A proprietary company must have at least one director, but does not need to have a secretary. The director and secretary (if any), must ordinarily reside in Australia.
If you require assistance with setting up your company, you may wish to contact our office and arrange an appointment to see one of our Business & Online Start-Up Solicitors in our Sydney office. For a complete listing of our offices, please see our "Locations" tab.
This webpage (and any material or wording appearing on this webpage) is provided for general information purposes only and does not constitute any Legal Advice. It does not take into account your objectives, your instructions or all of the relevant facts and/or circumstances. Navado accepts no responsibility to any person who relies on the information provided on this website. We further refer you to our Disclaimer.
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